Award-winning restaurant and bar for sale in Great Yarmouth with a 10-year lease and full setup
Great Yarmouth, Norfolk
- Status
FOR SALE
- Advert ID
640153
- Freehold: £45,000
- Rent: £12,000 (£1,000 per month)
- Turnover: £250,000 (£4,808 per week)
- Profit: Not Applicable
Key Features
- Accounts Available
- Established Business
- High Turnover
- Offers Invited
Business Details
Award Winning Restaurant & Bar for Sale – 10 Year Lease, Fully Fitted & Trading –
The Octopus Restaurant & Bar – Leasehold Business for Sale (£50,000)
Location: King Street, Great Yarmouth, Norfolk
Tenure: Leasehold (10-Year Lease Included)
Business Type: Licensed Restaurant & Bar
Asking Price: £50,000 (Open to Offers)
Rent: £1,000 per month
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Business Overview
A rare opportunity to acquire one of Great Yarmouth’s most admired and award-winning hospitality venues.
The Octopus Restaurant & Bar is offered for sale as a fully operational, turnkey business — simply turn the key and begin trading.
Currently open five days per week with trained staff in place, the business is ready for immediate takeover. The sale includes all fixtures, fittings, and equipment, ensuring a smooth transition for a new operator.
The only reason for sale is the owner’s ill health and upcoming back surgery.
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Premises Description
Occupying a prime position on King Street, The Octopus stands out as one of Great Yarmouth’s most beautiful and recognisable buildings.
The historic Great Augusta building has recently been awarded by the Great Yarmouth Civic Society for both its architectural appearance and food & drink excellence.
Entry is via four large stone steps leading into an impressive porch, opening into a stylish restaurant space complete with a high-quality resin-top bar and elegant décor.
Key Features:
Front and rear restaurant dining areas
Small outdoor seating area
High-quality resin-top bar
Spacious cellar
Fully equipped commercial kitchen
Large preparation room
Separate male & female toilets
Attractive, high-visibility frontage
Over £30,000 has been invested in décor, furniture, and kitchen equipment, all of which is included in the sale.
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Lease & Financial Details
Lease Term: 10 years (included in sale)
Tenure: Leasehold
Rent: £1,000 per calendar month
Business Rates: Eligible for Small Business Rate Relief (minimal thereafter)
The incoming owner may assign the lease to their own limited company or continue under the existing business.
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Trading Information
The Octopus trades as a well-established, independent restaurant and bar serving freshly prepared, locally sourced dishes. It enjoys a loyal local following, excellent online reviews, and strong seasonal trade from visitors.
Full financials and trading accounts are available to genuinely interested parties after an initial enquiry.
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Reason for Sale
Offered solely due to the current owner’s health and the need to reduce workload across multiple businesses.
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Opportunities
Extend opening hours or expand into private hire/events
Develop delivery, catering, or themed dining options
Excellent foundation for a chef-owner or experienced operator
A blank canvas ready for a new owner to make their own mark
All hard work already done – ready to trade immediately
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Sale Terms
Asking Price: £50,000
Open to Offers: Yes – the owner is flexible and open to creative deals, including offers below 100% ownership or staged purchase agreements.
Tenure: Leasehold (10 years)
Rent: £1,000 per month
Rates: Eligible for relief
Status: Fully trading, turnkey business
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Summary
A fully fitted, award-winning restaurant and bar in one of Great Yarmouth’s most iconic and attractive buildings, complete with a long lease, full inventory, and immediate trading potential.
This is a fantastic opportunity for someone seeking a ready-made hospitality business where all major investment and setup work has already been completed.
Viewing strictly by appointment.
Serious enquiries only – open to offers and flexible arrangements.
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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.
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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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