Thriving Worthing Restaurant with Flat & Prime Location for Sale
Worthing, West Sussex
- Status
FOR SALE
- Date Submitted:
25/05/23
- Advert ID
513739
- Reference
R35172T / Rightbiz
- Call Agent:
- Leasehold: £69,995
- Rent: £15,000
- Turnover: N/A
- Net Profit: On request
Key Features
- Attractive Business
- Fully Fitted
- Close to Local Amenities
- Established Business
Business Details
LONG ESTABLISHED & SUCCESSFUL RESTAURANT IN WORTHING, WEST SUSSEX
This eye-catching property occupies a prominent corner position in an area to the west of Worthing town centre renowned for its wide selection of eateries and only a short walk from the popular seafront. Located 10 miles to the west of Brighton and 18 miles east of Chichester, Worthing is a busy coastal town with a growing population and excellent transport links including direct rail services to London.
The licensed restaurant has a main dining area with seating for 48 customers, a built-in bar, ladies & gents toilets and a well-equipped kitchen to the rear of the property. Internal stairs lead to a two-bedroom flat which includes a bright, spacious lounge and was refurbished just 3 years ago with new carpeting and a newly fitted bathroom suite. The premises are held on a 20-year lease from Feb 2017 at a current annual rent of £15,000.
Currently trading 6 days a week (Tuesday – Sunday), this successful restaurant has been established for more than 30 years and remains a very popular eating destination. There are many positive online reviews and the business also holds a 5-star food hygiene rating. With a warm and attractive décor, the restaurant offers quality authentic Mexican & American food in a friendly and relaxed environment.
We are informed that sales vary between £3,000 – £7,000 per week according to the time of year. Already a profitable business, new owners might see the potential to increase income by further developing delivery sales which currently account for approximately 30% of the overall takings. Other opportunities include the introduction of Monday trading along with increased marketing and promotion particularly aimed towards private parties and functions.
The owner currently works full-time in the restaurant but must now reluctantly sell the business due to personal family circumstances. However, he is keen that the restaurant should continue to thrive and is willing to offer advice and assistance to new owners to ensure a smooth transition following the sale.
LEASEHOLD £69,995 REF: R35172T
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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
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Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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