This extremely well appointed business is very well presented and has recently been completely redecorated. The concern has been in the present vendors hands for a little over one year and is now offered for sale as the current owners wish to pursue other business opportunities. The business occupies an outstanding trading position in one of the South Coasts busiest cash trading thoroughfares. Having been established as a cafe for many years the concern is assured of an excellent all year round trade and benefits from a strong support from the local population and visitors to the town.
THE PREMISES: The restaurant has seating for 21 persons inside whilst a valuable licence exists for al fresco trading for an additional 10 persons. The business has been recently fitted with an excellent bar/servery area. There are a number of valuable items of trade fixtures and fittings. To the rear of the service area is a food preparation area, which leads onto a dry storage area and a 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.
TURNOVER: The vendor informs us that the business averages between £1,500 - £1,800 per week exclusive of VAT. (At the time of our inspection we were unable to inspect the trading accounts or the lease, prospective purchasers should make their own enquiries to verify same). The business is at present run by a husband and wife team, operating from 9am to 5pm, Monday to Saturday. There would however be enormous scope to operate during the evenings to take advantage of the lucrative evening trade and Sunday brunch trade.
TENURE: The entire premises are on a full repairing and insuring lease which has 5 years remaining at a current rental of £14,500 per annum. We have been informed that the lease is under the protection of the 1954 LTA, therefore it shouldn’t be a problem to have it renewed.
RATES: We have been verbally informed that the Rateable Value amounts to £17,000 and the current rates payable amount to £8,155 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 reduction £40,000 SAV
VIEWING: no account should any approach be made to the Manager or the staff without a prior appointment through the vendor’s agents, Watkins Commercial, Telephone: 01273 709090.
- Fully Fitted
- Accounts Available
- Established Business