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Asking Price
£925,000
Description
This is a excellent investment property with attached in house buffet service business. Although the premises in part, dates back over 60 years, various extensions and additions have resulted in the building having 4 different titles at the land registry office. The present vendors purchased the premises in 2006 and divided them up to be suitable for letting purposes and for function room hire. The vendors have now reluctantly decided to sell the premises as they are planning to emigrate. The current income for the 6 separate areas amount to £3608 per calendar month, payable monthly in advance. The two function rooms are booked on average 4 days per week by quality customers such as Bedford Borough and County Councils, the police and local security firms. This equates to a monthly income of £3600 on average. In addition to these incomes, the business provides a buffet service for those using the function rooms, for which the average cost is £2000 per month. Gross profit on the buffet service is approximately £1,300 per month. The whole site therefore contributes a gross income of £8500 a month or £102,000 per annum. The business only has the need to employ one full time employee to prepare and serve the buffets. REF: 8856MK
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