Covent Garden, London. WC2N

Indian Restaurant & Cafe Business for Sale near Leicester Square in West End, Central London

A lucrative opportunity to acquire a high-spec Indian restaurant and cafe in the heart of Londons vibrant Covent Garden (WC2N). This exceptional establishment boasts a prime location with a strong trading history and significant growth potential.

Note: It is compulsory for prospective enquirers to have an existing business with strong accounts.

Key Features:

- Impressive Weekly Sales: Generating £13,000-£15,000 per week, with sales increasing to £18,000 during peak season, combining both restaurant and catering revenue. This translates to an approximate annual turnover of £780,000 - £936,000.
- Prime Covent Garden Location: Situated in one of Londons most sought-after and high-footfall areas.
- Planning Use Class: Operates under Class E (Commercial, Business and Service), which incorporates the former A3 (Restaurant and Cafe) use class, allowing for the sale of food or drink for consumption on the premises.
- High-End Fit-Out: Fully fitted out to an exceptional standard, with a complete new kitchen and equipment, all still under warranty until July 2025. A significant investment of approximately £600,000 was made in the upscale fit-out.
- Spacious Premises: Spanning 1273 sq ft, the layout includes:
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- Ground Floor (805 sq ft): Seating for 40 patrons indoors, complemented by outdoor seating for 10, and a fully equipped bar area.
- Basement (468 sq ft): Comprising male & female W/C facilities, a modern kitchen, cold storage, an office, general storage, and a changing/locker room for staff.
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- Favourable Lease Terms: 5 years remaining on a renewable lease, with rent at £96,000 per annum or 12% of turnover over £800,000, whichever is higher.
- Rates: £28,500 per annum payable.
- Service Charge: £20,000 per annum plus VAT.
- Established Trading Hours: Open Monday to Thursday from 11 am to 9 pm; Friday to Saturday from 11 am to 10 pm; and Sunday from 11 am to 8 pm.
- Experienced Staff: A dedicated team of 7 full-time and 3 part-time staff members ensures smooth operations.
- Reason for Sale: The current owner is divesting due to commitments with other businesses.
- Asking Price: £300,000.

This is an ideal acquisition for an experienced restaurateur with an existing business and strong financial accounts, looking for a turnkey operation in a prime London location with a proven track record and considerable scope for further development.