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THIS BUSINESS IS NOW UNDER OFFER

LICENSED CAFÉ BAR RESTAURANT WITH 2 BEDROOM FLAT CENTRAL HOVE LOCATION HIGH FOOTFALL

Hove, East Sussex
Leasehold Price:
£65,000
Status
UNDER OFFER
Advert ID
238203
Reference
6443C / Rightbiz

This extremely well appointed business is very well presented. The concern has been in the present vendors hands for nearly 8 years and is now offered for sale as she wishes to return to her native Greece.  The business occupies an excellent trading position which benefits from a high footfall throughout the year. Having been established as a licensed restaurant and bar for many years the concern is assured of an excellent all year round trade.  During this time they have created an excellent reputation, receiving excellent reviews on Google reviews, Facebook and Trip Advisor.

THE PREMISES:  The restaurant has seating for 32 persons inside whilst a valuable licence exists for al fresco trading for an additional 24 persons.  The business has the benefit of concertina windows which during clement weather gives a beautiful continental atmosphere to the restaurant/bar.  The business has been fitted with an excellent bar/servery area.  Some of the valuable items of trade fixtures and fittings include:  2 group coffee machine, wealth of excellent back bar fittings, refrigerated units for both beer and wine.  To the rear of the service area is Modern fitted Kitchen – a full inventory of the valuable trade fixtures and fittings will gladly be supplied to a bona fide purchaser on request.  To the rear of the restaurant area is Separate Unisex WC and disabled facility.

LIVING ACCOMODATION :  Above the business is an  attractive flat comprising: 2 Double Bedroom (1 room is currently used as a storeroom), 1 single bedroom, Large Lounge, Bathroom/WC, Modern Kitchen fitted with a wealth of modern base and wall units.  The flat also has the benefit of a small patio area. The premises has the benefit of gas fired central heating (not tested). The flat is accessed via the business.

TURNOVER:  We are informed by the vendor that the business averages some £3,000 per week exclusive of VAT. The business is at present run by the lady vendor, her son, 1 chef, 1 kitchen porter and a waitress.  Hours of Opening:  8am to 5:30pm.  During the high summer season the business opens at 8.30am to 6.30pm.  There would however be enormous scope to operate during the evenings to take advantage of the lucrative evening trade of this bustling seaside town.  The business is licensed to trade until 11:30pm daily.

 

TENURE:  The entire premises are on full repairing and insuring lease which has approximately 7 years remaining on the lease with a current rental of £23,000 per annum, with the next rent review due in 2 years’ time.

RATES:  We have been verbally informed that the Rateable Value amounts to £19,000 and the current rates payable amount to £9,000 per annum. Council tax for the living accommodation is £1,500 per annum.  Prospective occupiers should make their own enquiries to verify same.

PRICE:   We are instructed to quote for the lease, goodwill, equipment, trade fixtures and fittings Price £65,000 SAV 

 

Listing Details
Leasehold Price: £65,000
Tenure: Leasehold
Location: Hove, East Sussex
Sector: Cafes, Restaurants, Bars
Financials
Annual Turnover: Available upon request
Annual Net Profit: Available upon request
Key Features
  • Prime Location
  • Accounts Available
  • Fully Fitted
  • Price Reduced
  • Established Business
  • Small Business
Contact Agent
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Advert Reference: 6443C / Rightbiz

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