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EXCEPTIONAL RESTAURANT WITH ACCOMMODATION WEST SUSSEX

Undisclosed, West Sussex
Leasehold Price:
£90,000
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Status
FOR SALE
Advert ID
232675
Reference
6431C / Rightbiz

Details

 

The restaurant has established a loyal following among the local community and residents, as well as many customers travelling from Brighton and other nearby towns to visit the restaurant. The vendor has received excellent reviews on Trip Advisor, Google, Facebook and Just Eats, and has been in the present vendors’ hands for just over a year. It only now comes to the market due to personal reasons. The current offering includes pizzas, pastas, steaks and freshly prepared fish dishes.

 

THE PREMISES:  The restaurant is located on the south coast in West Sussex. The premises is located on a busy parade and has an abundance of free parking nearby.  The restaurant is also surrounded by a number of affluent homes belonging to families and young professionals. The restaurant was fully refurbished a year ago before opening and has been fitted and equipped to a high standard. The restaurant area has seating for some 58. There are separate ladies and gents cloakroom as well as a disabled toilet. Also located on the ground floor are the superbly fitted and equipped kitchens, which are regularly maintained and serviced. The kitchen has a service counter, which opens out into the restaurant so that customers can see the chefs cooking. A full list of the valuable trade fixtures and fittings will be made available to any bona fide purchaser. There is rear access available from the kitchen, which is ideal for deliveries and also leads onto a large garden. The garden is currently being landscape so that it can be used next summer and it is expected that you could sit 40 covers comfortably in the space once the works have been finished. At the very rear of the garden is a large garage which is used for dry storage and contains fridges and freezers.

 

ACCOMMODATION: Above the premises is a self contained flat. Which consist of 1 single bedroom and 3 double bedrooms, with a shower room and newly fitted kitchen. At present the rooms are rented to staff members, which generates a rental income of £2,400 per month.

 

TENURE:  The entire premises are held on a full repairing and insuring lease, which has approximately 19 years unexpired at a current rental of £25,000 per annum. The next rent review is due to take place in 4 years time.

 

RATES:  We have been verbally informed that the business receives the benefit of the Small Business Rate Relief and the amount payable at the present time is zero.  Prospective occupiers should make their own enquiries to verify same.

 

TURNOVER: At present the vendor works full time in the restaurant as the head chef, with the assistance of 2 full time members of staff and 2 part time members of staff. The front of house staff consists of 2 full time and 2 part time members of staff. We are informed that the average weekly turnover is £7,000 per week. The vendor has recently started using Just Eats, which has been incredibly popular and is proving to be an lucrative addition to the business. The vendor has also held a number of private functions since opening the restaurants, which have also been very well received.  The current opening hours are Tuesday-Saturday 12.00pm to 3.00pm and then 6.00pm to 10.pm. Sunday 12.00pm to 5.00pm. Closed Monday.This represents an outstanding opportunity to acquire a fantastic restaurant with living accommodation in West Sussex. The restaurant and kitchen  have been equipped to a very high standard. Obvious potential of this business will immediately be seen at the time of inspection. Secure lease. Proven turnover and profitability.

Seller Details
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Listing Details
Leasehold Price: £90,000
Tenure: Leasehold
Sector: Restaurants, Italian Restaurants
Financials
Annual Turnover: £364,000
Annual Net Profit: Available upon request
Key Features
  • Fully Fitted
  • Accounts Available
  • High Turnover
  • Prime Location
Listing Statistics
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