EXCEPTIONAL FAMILY RUN RESTAURANT 88 COVERS, MID SUSSEX

EXCEPTIONAL FAMILY RUN RESTAURANT 88 COVERS, MID SUSSEX

The restaurant is located in the town centre and is located next to a multistory car park and is a few minutes’ walk from a Premier Inn. The restaurant has become a destination venue with many customers travelling to the town especially just to visit, as well as many local residents and guests from the nearby hotel.  The restaurant which has been in the current vendor’s hands for 17 years and during this time have received excellent reviews on Google Reviews (4.4*), The Fork (8.7/10) and Trip Advisor (4.5*). There would be enormous scope to regularly extend trading hours to benefit from the morning and day time trade. The vendors have only now decided to sell due to their wish to retire.

THE PREMISES: The business occupies the entire building, which is a located directly outside of the car park and is located near many other bars and restaurants. The main restaurant area is accessed via an external staircase and the restaurant provides seating for some 60 covers with a further 28 covers available outside. Towards the rear of the seating area is a bar which includes a coffee machine and drinks prep area. The first floor also includes a customer toilet and store cupboard. The kitchen is located on the ground floor which is fully fitted to trade and includes a double deck pizza oven and has full extraction which is regularly serviced and maintained. The kitchen has a separate washing up area and area to assemble desserts. The kitchen also has a dumbwaiter which is in full working order. There is a separate room on the ground floor which is currently used as a staff room, however in the past provided seating for an additional 10 covers and was particularly useful for customers who couldn’t walk up the stairs. There is also a further customer toilet located on the ground floor. The restaurant is also fitted with an air conditioning unit and integrated music system.  

TURNOVER:  The vendors are actively involved in the running of the business with one vendor being the chef and the other running the front of house. They also have one full time kitchen porter and 2 part time waitresses that assist them. Current hours of opening Tuesday-Saturday 5:30pm – 11pm. There would be substantial opportunity to increase the current trading hours to open all week and also during the day.  The current weekly average turnover amounts to just over £3,000 per week and the vendors are able to share bona fide accounts with interested parties. PLEASE NOTE: The vendors currently close the business on an average 8 weeks per year.

ALCOHOL LICENCE -– The sale of retail alcohol between the hours of 11am – 10:30pm, Sunday-Thursday and 11am-11pm on Friday and Saturday.

GENERAL REMARKS: Secure lease.  Outstanding reputation. Outside seating.  Obvious potential of this business will immediately be seen at the time of inspection. Enormous scope to increase trading hours, outside catering and events.

TENURE: The entire premises are held on a full repairing and insuring lease with 2 years remaining at a current rental of £17,400 per annum.

RATES: We have been verbally informed that the business receives the benefit of the Small Business Rate Relief and the amount payable at the present time is £2,000 per annum. The rateable value for the property is £17,750 per annum. Prospective occupiers should make their own enquiries to verify same.

PRICE: We are instructed to quote for the valuable lease, premises licence, equipment, trade fixtures, fittings and chattels Price £110,000 SAV

LEGAL FEES:  Each party to be responsible for their own legal costs. The purchaser to pay 50% of the landlord’s legal fees.  

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:  The property has been rated band C, the full report is available on 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:               6779C

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 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