Established Chinese Restaurant & Takeaway with Three Bedroom Accommodation – Lancing, West Sussex

Established Chinese Restaurant & Takeaway with Three-Bedroom

Accommodation – Lancing, West Sussex

Located in a strong trading position on South Street, Lancing, this well-established Chinese restaurant and

takeaway occupies a prominent position within the town’s principal commercial area. South Street links

Lancing’s railway station and village centre with the seafront, helping to generate a consistent flow of local

residents, shoppers, commuters and visitors throughout the day. The surrounding densely populated

residential catchment, together with nearby retailers, services and convenient access to the wider coastal

road network, makes the location well suited to both takeaway and dine-in food operators. Lancing railway

station is also located on South Street, providing regular rail connections along the coast and towards

London. Having traded successfully from the site for the past 17 years, the business benefits from an

established local customer base. The premises also include a self-contained three-bedroom flat, offering

accommodation for an owner-operator or the potential for supplementary income through subletting.Whilst currently operated as

a Chinese restaurant and

takeaway, the property’s

layout and location may suit

a range of alternative

food-led concepts, subject to

any necessary consents. The

business is offered for sale

due to the vendor’s planned

retirement, presenting an

opportunity to acquire a

well-positioned, established

food business with on-site

accommodation and clear

potential for further

development.

THE PREMISES: The business

is presented in good

condition throughout and

represents a turnkey

opportunity for an owner-operator. The customer area provides seating for approximately 30 covers, with a

drinks preparation area to the rear of the dining space. Separate ladies’ and gents’ toilet facilities are also

available. To the rear is a fully fitted commercial kitchen,

equipped to a high standard and benefiting from a

regularly cleaned and maintained extraction system. The

kitchen includes a four-wok cooking station, separate

preparation and washing-up areas, and a range of

fridges and freezers. Additional dry storage and further

freezer facilities are provided within the garage to the

rear of the property.

ACCOMMODATION: The accommodation is accessed via

the rear of the property and includes 2 double

bedrooms, 1 single bedroom, a kitchen, living area and

bathroom.

PREMISES LICENCE: 152465. For the consumption of

alcohol on the premises between the hours of

10am-11pm from Monday-Sunday.

TURNOVER: The business is operated by the vendor on

a full-time basis, assisted by two full-time chefs, one

part-time chef and one full-time front-of-house teammember. In addition, three part-time delivery drivers

support the takeaway operation.

Trading hours are Wednesday to Monday, from 4.00pm

until 10.30pm. The business currently achieves average

weekly sales of approximately £5,000 to £5,500. There is

considered to be significant scope to increase turnover

through extended opening hours and greater use of the

restaurant’s dine-in facilities. At present, approximately

90% of trade is generated from takeaway sales, with only

around 10% of customers dining in.

TENURE: The entire premises will be held on a new 12

year full repairing and insuring lease at a commencing

rental of £28,000 per annum. Upward only rent reviews to

take place every 4 years.

RATES: We have been verbally informed that the business

currently pays zero rates, as they have the benefit of small

business rate relief. The rateable value of the property is

£11,250 per annum. The council tax Band is A and is

£1,400 per annum. Prospective occupiers should make

their own enquiries to verify same.

GENERAL REMARKS: A long-established Chinese restaurant and takeaway, prominently positioned within a

busy residential area of Lancing. The business benefits from excellent levels of passing trade, strong local

footfall and convenient parking nearby. Trading successfully for 17 years, the premises are fully equipped and

offer a turnkey opportunity for an experienced operator or first-time buyer. The property also includes

on-site accommodation, suitable for owner occupation or potential subletting, subject to any required

consents. With its established trading history and flexible layout, the site may also lend itself to a variety of

alternative food-led concepts, subject to planning and landlord approval.

PRICE: We are instructed to quote for the lease, goodwill, equipment, trade fixtures and fittings £95,000 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 premises has been rated a band C and 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: 6965C

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) ii) View businesses registered with Watkins Commercial by appointment only.

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.