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Grade II Listed 55-Seater Restaurant Ready to Operate in Affluent Lymington Hampshire

Lymington, Hampshire
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Character Freehold 55 Cover RestaurantCharacter Freehold 55 Cover RestaurantCharacter Freehold 55 Cover RestaurantCharacter Freehold 55 Cover Restaurant
  • Status

    FOR SALE

  • Date Submitted:

    10/07/24

  • Advert ID

    614169

  • Reference

    H224194 / Rightbiz

  • Call Agent:

    Registered members »

  • Freehold: £550,000 (Stock at valuation)
  • Leasehold: £69,950
  • Rent: £40,000
  • Turnover: Not Applicable
  • Net Profit: Not Applicable

Key Features

  • Town Centre location
  • Established Business
  • Accounts Available
  • Split Level Trading Area
  • Fully Fitted
  • Retirement Sale

Business Details

Character Freehold 55 Cover Restaurant

Goadsby Commercial present freehold Grade II listed licensed restaurant. Character 55 cover restaurant in historic former church and school. Located in affluent - desirable Lymington. Fully fitted equipped premises - ready to trade. Genuine retirement sale.

LOCATION
Situated in a cul-de-sac just off the main High Street. Lymington is an attractive and affluent Georgian Market Town, a major yachting centre with a population of approximately 15,000 people.

ACCOMMODATION
Arranged over 2 floors (55 covers). Cloakrooms. First Floor Kitchen. Wash Up Area. Second Floor Store Room and Office.

DESCRIPTION
Through door into Lobby with part original stone floor, part tiled floor. Door into Gents Cloakroom fully tiled, low level WC, wash hand basin, electric hand dryer. Through door into Restaurant with solid wooden floor, Waiting Area, 2 high stools, 2 wooden tables, 2 x 2 person sofas, part panelled walls, inset ceiling lights, wooden tables with metal legs, upholstered chairs, upholstered bench style seating for 34 covers, wall mounted electric heaters, feature fireplace, wall mounted speakers, raised area, fire escape, wooden bar servery, non slip floor, wine racking, 2 double chiller display cabinets, coffee machine (on rental agreement), Epos till system, ice machine, glass washer, stainless steel wash up, shelving, beer pumps (on free loan). Through into Cloakroom with wash hand basin door into cubicle with tiled walls, low level WC, electric hand dryer, extractor fan. Stairs up to FIRST FLOOR Gallery Dining Area with wooden tables with metal legs, upholstered chairs, upholstered bench style seating for 20 covers, part panelled walls, original beamed ceiling, feature windows, wine fridge, waiter station. Through double doors into Kitchen with commercial floor, assorted stainless steel tables, extensive extraction system, Buffalo deep fat fryer, solid plate with oven under, 4 burner gas range with oven under, eye level gas grill, 2 microwaves, wall mounted insectocutor, 2 upright fridges, hot cupboard, heated and lit gantry above, 4 cupboard chiller counter unit, shelving, fully tiled, part stainless steel splashbacks. Wash Up Area with single bowl stainless steel sink unit, commercial dishwasher, shelving. Through into Wash Up Area with double deep bowl single drainer sink unit, fully tiled, stainless steel work top surface, walk in chiller with shelving, wash hand basin, chest freezer, upright freezer, stairs down to ground floor hallway. Stairs up to SECOND FLOOR with stainless steel tables, shelving, chest freezer, upright freezer. Steps up to Office with shelving, cupboards.

TRADING & BUSINESS
The restaurant operates Tuesday to Saturday from 11.30am for lunch and Tuesday to Saturday from 6pm for dinner. The owners have provided us with accounts which show that in the year ending 31st March 2022 the turnover was £368,433 with an adjusted Net Profit of £155,680. Further accounts can be made available to genuinely interested purchasers.

LICENCES/PERMISSIONS
We are informed that the property holds a Premises Licence granted by New Forest District Council. The Licensing Act 2003 states that properties serving alcohol have a designated premises supervisor who must hold a Personal Licence. We suggest that all purchasers take appropriate professional advice. We have not had sight of this licensing documentation.

TENURE
FREEHOLD or LEASEHOLD. The owners will provide a new 5 year plus lease, at a commencing rent of £40,000 per annum, exclusive. Further terms to be agreed. We have not had sight of this lease documentation.

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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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Stay Safe

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.

Stay Safe

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.

Stay Safe

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.

Stay Safe

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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The data showed regarding this advert 'Character Freehold 55 Cover Restaurant - H224194 / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.