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SEAFRONT WEDDING FUNCTION VENUE AND RESTAURANT, HAMPSHIRE

Lee on the Solent, Hampshire
Leasehold Price:
£1,800,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
237846
Reference
E7652RB / Rightbiz

Details

LOCATION:                  In a rare and fantastic position within one of UK’s most beautiful surroundings on the south coast on the beach overlooking the Solent with unobtrusive panoramic and forever changing, always interesting views over the sea with shipping movements of large container ships, sailing boats and cruiser liners. 

 

DESCRIPTION:            The path from the road to the beach leads to the sea facing terrace spanning the entire wide property which comprises the main restaurant with 80 covers, the fully fitted and equipped kitchen area, a kiosk serving drinks, takeaway food and ice cream, a glass fronted conservatory which seats 20 plus 90 in the wind break area overlooking the beach, the panorama lounge (15 x 10 m) which also caters for the evening bistro/brasserie seating 80 persons, the evening cocktail bar seating 80 inside and 120 outside on the beachfront veranda and the the new beachfront wedding and function venue seating 120 for banquet or 200 for buffet. The daytime coffee and snack lounge seats 80 with the daytime restaurant serving breakfast and lunch. The restaurant and kitchen measures some 229 sq m (2,454 sq ft). Marquee only added recently so not really promoted yet.

                                   

BUSINESS:                  Established in 2006, run with 8 full time and 11 part time staff taking current £515,574 pa @ 65% g.p. Potential for over £1 million annual income. Ill health forces sale.

 

EQUIPMENT:               Fully fitted and equipped for the trade. Inventory available on request.

 

HOURS:                       Winter: 9 am to 4pm and in summer 8 am to 10 pm. The function room openings are based on bookings.

 

COMMENTS:                Potential to promote as a beach wedding venue, private, commercial parties/functions, evening dining and the cocktail lounge.

 

TENURE:                     99 year head lease from 16 January 2007 at the rent of 5% of the net takings with a minimum of £10,000 pa.

 

RATES:                                 £6,032 pa payable.

 

VIEWINGS/

NEGOTIATIONS: Strictly through PEGASUS BUSINESS SALES on 020 7935 3939

 

Seller Details
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Listing Details
Leasehold Price: £1,800,000
Tenure: Leasehold
Sector: Restaurants, Cafes, Wedding Service Businesses
Financials
Annual Turnover: £515,000
Annual Net Profit: Available upon request
Key Features
  • Unique Business
  • Offers Invited
  • Accounts Available
  • Trade Gardens Available
  • Incentives May Be Available
  • Fully Fitted
  • Open Plan Trading Area
  • Retirement Sale
  • Close to Local Amenities
Listing Statistics
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The data showed regarding this advert 'SEAFRONT WEDDING FUNCTION VENUE AND RESTAURANT, HAMPSHIRE - E7652RB / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.