PRIME LOCATION BAR FITTED KITCHENS, ALCOHOL LICENCE, 75 COVERS HOVE, EAST SUSSEX

This fully fitted cocktail bar/restaurant comes to the market in excellent condition and is located on in Hove, East Sussex.  The vendor opened the bar two years ago and now only comes to the market as they wish to relocate. At present the vendor has focused on operating a cocktail bar and serves a selection of small plates and burgers, etc and only opens for a lunch and dinner service on Friday-Sunday. There is significant scope to increase trading hours and capitalise on the morning breakfast/brunch trade as well.

THE PREMISES: The restaurant is located in a desirable location in Hove, East Sussex. It is close to Hove Library and a number of restaurants as well as the popular shopping area of George Street. It’s located on a very busy main road, with a number of main bus routes running along it and benefits from a high footfall throughout the year. This is an extremely smart premises and comes to the market in excellent condition. The ground floor provides covers for 35 at the front of the premises with an additional 40 covers in the covered garden at the rear of the premises. Towards the rear of the premises is the bespoke cocktail bar area. The garden at the rear of the premises has a temporary cover during the winter months and also has a number of outdoor heaters. The separate ladies and gents’ toilets are to the rear of the premises. The kitchen is located in the basement which is fully fitted with full extraction and a chiller room. The kitchen has a wealth of fixture and fittings and a full inventory is available on request. There is also a large storage room in the basement, office space and access to the staff toilet.

TURNOVER: The business is currently run by the vendor and his family with the assistance of 1 full time chef, 1 part time chef, 1 full time bartender and 2 part time waitresses. The current average weekly turnover is £7,000 per week. The current trading hours are Monday-Thursday 4pm-12am and 12pm-12am on Friday-Sunday.

ALCOHOL LICENCE: -

Sale of retail alcohol on the premises.  1. The sale of intoxicating liquor and other beverages shall be waiter/waitress service for consumption by persons seated at tables. 2. Substantial food shall be available at all times. 3. There will be no vertical drinking.

Monday – Sunday 7:30am – 11:30pm

TENURE:  The premises are held on a full repairing and insuring lease, which has approximately 12 years unexpired at a current rent of £28,000 per annum.  Rent reviews take place every 4 years.

RATES: The rateable value is £13,500 per annum and the current rates payable are £4,500 per annum. Prospective occupiers should make their own enquiries to verify same.

GENERAL REMARKS: This business was personally inspected by the vendor’s sole agents who can thoroughly recommend this as being an extremely well-presented business. Fantastic location in central Hove. Substantial opportunity for growth. Secure lease. High footfall throughout the year. 80 covers.

PRICE: We are instructed to quote for the lease, goodwill, trade fixtures and fittings £89,950 SAV Price reductions 

LEGAL FEES:  Each party to be responsible for their own legal costs. The purchaser to be responsible for the landlord’s legal costs.

VIEWING: On no account should any approach be made to the staff without a prior appointment through the vendor’s sole agents, Watkins Commercial, Telephone: 01273 709090. 

ENERGY PERFORMANCE CERTIFICATE:  The premises has been rated a band D. The full report is available upon request.

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:        6784C

These particulars are believed to be correct but their accuracy is not guaranteed and

they do not form any part of any contract

APPLICANTS CONFIDENTIALITY AGREEMENT

I understand and agree that any information regarding any business supplied to by Watkins Commercial will be kept strictly confidential.  I also undertake that I will:

i)                View businesses registered with Watkins Commercial by appointment only.

ii)               Not contact any owner, staff, suppliers, competitors or customers of any business registered with Watkins Commercial

iii)              Not pass on any information supplied by Watkins Commercial to any third party other than a professional advisor et. Bank, solicitor, surveyor accountant, etc.

iv)              Submit any offers direct to Watkins Commercial with whom I will conduct all negotiations

v)               Be liable for any commission which would have been due to Watkins Commercial should I be party to negotiations or actions which seek to preclude, or are contrary to the interest of Watkins Commercial.