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FULLY LICENSED LEASEHOLD RESTAURANT WITH A3 A5 USER,

West Grinstead, West Sussex
Leasehold Price:
£100,000
Status
FOR SALE
Advert ID
256130
Reference
6521C / Rightbiz

This business was purchased by the present owners some ten years ago, since their acquisition considerable sums of money have been spent on the premises being fully renovated throughout including modernization of the upstairs living accommodation with electrics, plumbing, etc., together with the main structure of the property and is now fully alarmed.   This concern has the benefit of superb location with the ability to have an outstanding opportunity to expand upon the firm foundations of the existing business which has been established.  This is a successful business with enormous scope to increase the present turnover. 

A recent traffic survey indicates that between 18,000 and 20,000 vehicles pass the premises daily and nearby is a Country Park which carries one of the main cycling routes from the South Coast to the Guildford area.

THE PREMISES:  The premises were originally constructed as a Public House and is built on a good sized plot providing Car Parking for upwards of 40 vehicles and adjoining the main building is an Excellent Trade Garden which during the summer months has proved very popular and with scope to improve its present functionality.

The accommodation comprises:- 

Reception Area measuring 3.68m x 3.3m. 

Main Central Restaurant Area measuring 3.8, x 4.2m plus 3.6m, x 10m.  The seating at the present time has approximately 90 covers.

Eastern End Restaurant measuring 5.5m x 4.56m

Kitchen measuring 4.9m x 6.2m overall including Preparation Area

Rear Lobby and Small Office measuring 1.7m x 3m

Freezer Store and Dry Store, Small Staff Room and WC and Store.

Separate Male and Female Cloakrooms together with Disabled Toilet facilities towards the front of the restaurant.

The entire premises are fitted to a very good standard with a full extensive inventory of valuable trade fixtures and fittings which will be available to any bona fide purchaser at the appropriate time.

LIVING ACCOMMODATION:  The self contained modernized living accommodation is arranged on the first floor comprising: 

Central Entrance Hall, 3 Bedrooms measuring 4m x4m, 3.9m x 3.9m and 3.2m x 3.4m, Kitchen measuring a4.2m x 3.9m.  Lounge measuring 5.4m 4.7m, Dining Room measuring 4.1m x 3.9m, Bathroom/WC, Separate Shower Room/WC.

NOTE:  Please note that main drainage does not exist, but is dealt with by sceptic tank.  No mains gas this is provided by LPG system.  There is mains electricity.

LICENCES:  The property has the benefit of a Late Night Refreshment Licence, Friday and Saturday to 2300 hours.  The retail sale of alcohol – Sunday to Thursday 8am to 11pm, Friday and Saturday 8am to 11.30pm.  Use of the outside seating and dining areas between the hours of 10am and 9pm each day.  All details of the licences held will gladly be provided on request.

TURNOVER:   The business is run at the present time by the vendors and their family.  Assisting the vendors are 2 full time chefs, 2 full time waitresses and a nucleus of part time staff available, as and when required.  Staff Wages: £1,750-£2,000 per week.

Under the present ownership of this business they have seen a steady increase of turnover and we feel that there is an abundance of scope to exploit the outside trade garden.  The business trades a 7 day week 8am to 9pm.  We are informed that the current turnover averages £7,000 per week, excluding VAT. Re constructed net profit circa 40K.

TENURE:  The entire premises are held on a full repairing and insuring lease which has approximately 9 years unexpired, the current rent passing is £50,000 per annum, exclusive of rates with 5 yearly rent reviews. The lease has the full protection of the 1954 Landlord and Tenant Act.

RATES:   The business at present benefits from the Small Businesses Rate Relief and pays approximately £7,700 per annum.  Prospective occupiers should make their own enquiries to verify same.

GENERAL REMARKS:  In assessing this very well presented business we earnestly advise prospective purchaser to make immediate inspections.  It is very rare that a premises with beautiful accommodation located in the heart of the Sussex countryside becomes available.  The business has a strong goodwill derived from passing trade and local residents.  Scope exists to take more advantage of functions and al fresco activities in the trade garden.   Other Points to Consider:  Long secure lease, magnificent self contained flat, excellent trade gardens, large seating capacity.  Excellent inventory of trade fixtures and fittings.

Because of the spacious accommodation this will be an ideal business for a two family management team

PRICE:  We are instructed to quote for the lease, goodwill, equipment, trade fixtures and fittings £100,000 SAVLEGAL FEES:  Each party to be responsible for their own legal costs.

VIEWING: On 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. 

ENERGY PERFORMANCE CERTIFICATE: F

DISCLAIMER: Neither the Vendor nor the Agent gives or implies any warranty that the premises are fit for any particular use or that they comply with any relevant regulation or statutory requirement.

The agents have not tested any apparatus, equipment, fittings or services so cannot verify that they are in working order.  The buyer is advised to obtain verification from their solicitor or surveyor before proceeding with the purchase.

VAT: All prices and rents are quoted exclusive of VAT.  Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.

MORTGAGE  & FINANCIAL       PLANNING:  We shall be pleased to assist any purchaser in arranging finance to acquire this business or any other business you may be considering subject to status. 

Prop. Ref: 6521C

These particulars are believed to be correct but their accuracy is not guaranteed and they do not form any part of any contract.

 

Listing Details
Leasehold Price: £100,000
Tenure: Leasehold
Location: West Grinstead, West Sussex
Sector: Restaurants, Take Aways Businesses, Cafes
Financials
Annual Turnover: Available upon request
Key Features
  • Accounts Available
  • Established Business
  • With Accommodation
  • Fully Fitted
  • Trade Gardens Available
Contact Agent
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Agent Name: Upgrade to view
Advert Reference: 6521C / Rightbiz

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