Business for Sale in Kings Lynn, Norfolk PREMIER CHINESE RESTAURANT – KINGS LYNN, NORFOLK (PE30)

Leasehold Price £350,000
Freehold Price £750,000

Key Information

Reference
R35428E
Tenure
Freehold, Leasehold
Status
For Sale
Region
Norfolk
Sector
Chinese Restaurants
Rent Payable
Leasehold Only - £40,000 per annum. This will be subject to a new lease being granted on terms to be agreed. The purchaser will be responsible for the landlords costs and fees in connection with the grant of a new lease.
Business Rates
£4,054 per annum. This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.
Accommodation
Yes

Business Information

  • Highly Regarded
  • Freehold or Leasehold Option
  • 5 Star Food Hygiene Rating
  • On-Site Car Parking
  • Scope to Extend Opening Hours
  • Substantial Turnover & Profit
  • Very Well Presented
  • 100 + Covers
  • 4 Bed Accommodation
  • Call to Arrange Viewing

AGENTS NOTE

This is a business for sale as a going concern, not an empty premises for sale or let.

PARTICULARS

We are delighted to be appointed to market what is considered by many to be the premier Chinese restaurant in Kings Lynn and the surrounding area and upon visiting it is not difficult to see why it is so highly regarded.

With a significant turnover and scope to further increase if desired, together with accommodation above, and the option to acquire on a freehold or leasehold basis, we expect interest to be high and would recommend registering your interest with us at your earliest opportunity.

THE BUSINESS ITSELF

The current owners have run the business for some 20 years and have developed and grown it into the hugely successful and profitable business that it now is. During that time they have reinvested in the restaurant ensuring that the décor remains modern and contemporary providing an inviting and comfortable dining environment. Similarly the kitchens have been well fitted out to provide all that is needed for an operation of this size and type.

Offering a fixed price, cooked to order, ‘all you can eat’ option, a traditional a la carte menu and of course a takeaway and delivery service, it caters for all preferences. They do not currently open for a lunchtime service though and this is an option should a new owner wish to increase turnover.

The business receives many recommendations and has a Facebook following of c.4.5k which could be grown further with a more concerted effort.

This is clearly a well performing business with all the right boxes ticked to enable a new owner to come in and continue to enjoy the success that is currently being achieved.

PREMISES

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The property sits within it’s own private site on a busy through road just off the town centre in Kings Lynn. The imposing building benefits from having parking for up to as many as 20 cars which is a big plus point for both customers and staff. It also benefits from CCTV, alarm and air-conditioning.

Entering inside into the lobby via the double set of glazed doors creates an impressive entrance and leads into the good sized and well presented bar area. There are 3 beer taps, a twin door drinks fridge, shelving behind for spirits and wines, epos till point and adjoining store cupboard.

Moving through into the main restaurant area you will find this to be of a very good size and well presented with quality fittings. Of particular note is the partial glazed wall and roof to 2 sides giving plenty of natural light which makes the whole space very bright and a comfortable place to sit and dine. There is a large fish tank built into the wall partially dividing the restaurant from the bar area which gives a sense of calm together with wood effect flooring and a variety of different light fittings. To one side is a hot drinks and dessert area with Nespresso coffee machine, ice cream freezer and plate warmer. The customer toilets are off of the restaurant and are similarly presented in line with the rest of the property.

The kitchen is of a good size and well fitted out with a 5+4 wok range installed approx.3yrs ago. In addition there is a 6 hob burner, walk in fridge, a recently upgraded extraction system, 2 fryers, bain marie, water heater, double sink, hand sink, hot cupboard, s/s work benches and s/s u/c fridges. There are s/s splash backs to the walls and a tiled floor to help maintain cleanliness. The main kitchen is open through to a second area which is used as a dry store with a range of shelving racks and vinyl flooring. This leads round to a wash up area with a commercial set up. There is a door from this area through to the restaurant as well as an external door to the side of the building.

There is an external door also from the main kitchen area which leads to the rear yard.  Situated here is a large walk in fridge and walk in freezer. Access can also be gained to the front from both sides.

ACCOMMODATION

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The upstairs residential accommodation can be independently accessed from a further side door with stairs leading up to the first floor. It is currently set up as 3 bedrooms and 1 office but this could be easily changed to provide 4 bedrooms. There is also a separate bathroom and W.C as well as a store room.

FURTHER INFORMATION

REFERENCE NUMBER

R35428E.

OPENING HOURS

5:00pm to 11:00pm Wednesday to Monday. Closed Tuesday.

TENURE

Freehold or Leasehold option available by negotiation.

RENT PAYABLE

£40,000 per annum. This will be subject to a new lease being granted on terms to be agreed.

The purchaser will be responsible for the landlords costs and fees in connection with the grant of a new lease.

RATES PAYABLE

£4,054 per annum.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

EPC

The Energy Performance Certificate shows a ‘B’ rating and a score of 44.

PRICE

Freehold: £750,000.

Leasehold: £350,000.

For the benefit of the goodwill, fixtures, fittings & equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

VIEWING

Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.

FINANCE

Finance may be available to suitable purchasers.

BUSINESS TO SELL?

Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

PREMIER MARKETING

We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!

UNHAPPY?

Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.

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East Anglia

Your Regional Director Chris Ruggles

EM&F East Anglia

116 - 118 Prince of Wales Road
Norwich
Norfolk
NR1 1NS