Folkestone Hotel, Restaurant & Events Venue: 10 Rooms, £400k Turnover, Parking, 50-90 Covers
Folkestone, Kent
- Status
UNDER OFFER
- Date Submitted:
24/02/23
- Advert ID
508927
- Reference
C1131 / Rightbiz
- Call Agent:
- Leasehold: £375,000 (Stock at valuation)
- Rent: £19,000
- Turnover: £300,000 (£5,769 Per week)
- Net Profit: On request
Key Features
- Accounts Available
- High Turnover
- Attractive Business
- With Car Park
- Prime Location
- Fully Fitted
- Price Reduced
- Established Business
Business Details
HOTEL RESTAURANT EVENTS VENUE
10 LETTING ROOMS - HELD ON 99 YEAR LEASE FROM 1984 - TURNOVER £300,000 P.A. - 50 COVER RESTAURANT - 90 COVER FUNCTION ROOM - CAR PARK FOR 14 CARS - S.C. 3 BED OWNERS FLAT
LOCATION - These substantial premises occupy a prominent trading location close to the centre of Folkestone, close to the Station, harbour and seafront. The business draws trade from over a wide catchment area along with a high level of passing trade.
BUSINESS - Well established having been in the present hands for 3 years and now only being marketed as a result of family partnership disolvement. Tremendous potential exists for the introduction of more functions and events.
TURNOVER - £300,000 P.A. Was £400,000 P.A. Prior to Covid.
STAFF - Vendors plus 6 part time staff
PREMISES - Imposing premises with main entrance to: Bistro Bar: with well equipped bar and 20 covers. Restaurant: with 50 Covers at quality furniture. Customer Ladies and Gents W.C facilities. Further Bar Area: with well equipped bar and 90 Covers. Function Room: 65 Covers (120 for Buffet) air conditioned. Customer Ladies and Gents W.C facilities. Kitchen: Full extractor canopy, 8 burner range, 6 burner range, bain marie, oven, 2 microwave ovens, griddle, 3 undercounter refrigeration units, 3 fridges, 5 freezers, twin door chiller, twin door freezer. Walk in coldroom. Prep Room: deep st/stl sink, commercial dishwasher, st/stl prep surfaces. Cellar: with keg storage, hatch from street. Dry store area: Outside: Trade Garden: with 50 covers laid to lawn with flower and shrub borders. Car Park: for 14 Cars.
LIVING ACCOMMODATION - Letting accommodation: comprising 10 Double Rooms over 2 floors (Each with ensuite bathroom or shower room) Note: All rooms are decorated and furnished to a high standard.
OWNERS ACCOMMODATION: Self contained flat comprising: 3 Large Double bedrooms on with dressing room and one with shower ensuite. Large Lounge. Fitted Kitchen: Bathroom: full suite.
OBSERVATIONS -The premises are decorated and furnished to a high standard throughout and benefit from gas fired central heating and part replacement double glazing.
TENURE - Held on a 99 year FRI lease from 1984
RENT - £23,000 P.A. (Fixed) EPC RATING Band B
BUSINESS RATES - £4,410 P.A. (22/23
Contact Agent
Listing Statistics
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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