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Newly Refurbished Seafront Restaurant with Large Terrace in Worthing, West Sussex for Sale

Worthing, West Sussex

CONFIDENTIAL SALE

  • Leasehold: £225,000 (Stock at valuation)
  • Rent: £30,000
  • Turnover: On request
  • Net Profit: On request

Key Features

  • Town Centre location
  • Fully Fitted
  • Established Business

Business Details

NEWLY REFURBISHED RESTAURANT SEAFRONT LOCATION WITH LARGE SOUTH FACING TERRACE WORTHING, WEST SUSS

This highly regarded restaurant in a prime seafront location in the heart of Worthing, West Sussex. Positioned on the main coastal road and offering stunning views of the English Channel, the restaurant benefits from a high level of visibility and footfall. Worthing has experienced significant growth and investment in recent years, with the development of high-end flats nearby further enhancing the area’s appeal and increasing the customer base. The restaurant enjoys strong support from both local residents and the many visitors who come to experience Worthing’s key attractions, including the theatre and the town’s popular observation wheel. Its prime location makes it an ideal dining destination for pre-theatre guests, tourists, and those looking for a high-quality dining experience by the sea. Having been in the hands of the current owner for the past 12 years, the business has built an outstanding reputation and is highly rated on both Google Reviews and Facebook. The restaurant has recently undergone an extensive refurbishment, ensuring that it is presented in excellent condition and ready for immediate operation. The decision to sell the restaurant comes as the owner wishes to focus on other business opportunities, making this a rare chance for a new owner to take over a well-established and successful restaurant in a thriving coastal town. With its prime location, loyal customer base, and beautifully refurbished interiors, this is a fantastic opportunity for an ambitious restaurateur or investor looking to step into a profitable and reputable business.

 

THE PREMISES:  The restaurant features a newly refurbished, expansive terrace at the front of the building, offering breathtaking sea views. This outdoor space can accommodate between 80 to 100 covers, providing a fantastic opportunity to capitalize on Worthing’s bustling seafront atmosphere. The terrace now includes two pergolas, which are equipped with electrical fittings, allowing for a comfortable and stylish al fresco dining experience in all seasons. Inside, the ground floor boasts a beautifully designed dining space with seating for approximately 100 guests. A well-positioned bar is located towards the rear of the restaurant, creating a welcoming space for pre-dinner drinks and social gatherings. The open-plan, theatre-style kitchen enhances the dining experience, allowing customers to see dishes being freshly prepared. The main preparation and cooking kitchen is situated on the lower ground floor and is fully equipped with high-specification fixtures and fittings, including extraction systems, a washing-up area, and extensive cooking space. A walk-in chiller and freezer are also located on this level, alongside a staff toilet, storage facilities, and separate customer restrooms. A comprehensive inventory of all equipment and fittings will be made available to serious prospective buyers. Customers visiting the restaurant benefit from convenient parking options, including multiple nearby car parks and on-street parking, ensuring ease of access for both locals and tourists. This is an outstanding opportunity to take over a well-established and successful restaurant in a thriving coastal town. With its prime location, newly refurbished interiors, expansive terrace, and strong reputation, this business is perfectly positioned for continued success. Whether you are an experienced restaurateur looking to expand or an investor seeking a lucrative hospitality venture, this is an opportunity not to be missed.

 

TENURE:  The premises is held on a full repairing and insuring lease at a current rent of £30,000 per annum and has 9 years remaining on the lease.   

 

BUSINESS RATES:  We have been verbally informed that the rates payable amount to £10,000 per annum, which is a proportion of the hotel. The rateable value for Prospective occupiers should make their own enquiries to verify same.

 

TURNOVER: The vendor is actively involved in the management of the restaurant, with the assistance of one full time manager, 2 full time and 4 part time front of house staff. The kitchen staff consists of 5 chefs and 1 kitchen porters.  The current opening hours are Monday – Sunday 12pm – 11:30pm. The vendor also works with Deliveroo, Just Eats and Uber Eats allowing them to fulfil delivery and takeaway requests. Full trading accounts will be available upon request.

 

PREMISE LICENCE: The sale of retail alcohol is allowed Monday-Tuesday 11am-11:30pm and 11am-1am Wednesday-Saturday. Live music is also permitted.

 

GENERAL REMARKS:  This business was personally inspected by the vendors sole selling agents who consider this to represent an outstanding opportunity to acquire an outstanding business in the heart of Worthing. Obvious potential of this business will immediately be seen at the time of inspection. Secure lease. Proven turnover and profitability. Excellent reputation. Large outdoor seating area overlooking the sea.

 

PRICE:   We are instructed to sell the goodwill, lease and trade fixtures and fittings for £225,000 SAV

 

LEGAL 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: The premise has been rated a band C, 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:        6857C

 

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.

 

 

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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.

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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.'.

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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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