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Prominent Seafront Restaurant In Popular East Sussex Town For Sale

East Sussex, East Sussex
Asking Price:
£549,950
Turnover:
£709,809
Net Profit:
Available on request

Business
Hilton Smythe are privileged to offer to the market this seafood restaurant, established by our clients in 2016 and now offered for sale due to their wish to now retire.

The business has established itself as one of the best restaurants in the area, specialising in fine fresh seafood served in a friendly relaxed environment.

All the food is sourced locally, the lobsters served are caught within a stone's throw of the restaurant from the nearby beach and all the steaks are sourced from Sussex farms.

The restaurant opened with zero turnover history and this year is projected to achieve the £1M point and we believe this should easily be increased to £2M in the following years due to the addition of a new beach terrace which should easily add another 40-50 extra covers.

The business attracts a mix of business professionals, local people, tourists and those visiting from London.

There are excellent reviews on TripAdvisor, Open table including a 4.8/5 score on Facebook.

Our clients have worked hard developing the business from just a destination lunchtime and evening offering to now a venue to hold business lunches and dinners, private birthday parties, wedding receptions.

They have also added a Christmas day menu this year, buffet menu including a popular brunch offer and advise a full breakfast menu would also extend the daytime trading potential.

The choice of small plates has become an instant hit, current average spend sits at £45/£50 a head.

In the summer months, the restaurant can serve over 30 lobsters a day which is more than any nearby seafood restaurant in this area.

The restaurants reputation for quality, service and customer loyalty is spreading to all areas.

The excellent experienced team in place collectively offer any new owner the ability to walk straight in.

A full business handover will be offered.

Location
The restaurant occupies one of the most enviable trading positions on the Seafront.

A prominent Seafood restaurant in a popular East Sussex town.

The business sits alongside other bars and restaurants.

There are many pay, and display parking spaces located on the seafront including a nearby multi storey car park.

Premises
External - a large enclosed terrace with newly heated canopies allow now daytime and evening dining for 84, with clear views to the beach. A new beach positioned terrace for a further 40 will be added this summer.

There is a downstairs bar and kitchen with a 65-dining area to the mezzanine first floor level.

Ground floor –
Bar servery - cladded in ‘copper’ with:
• 4 points of draught dispense,
• steel and glass display shelving,
• undercounter chillers and storage,
• till and card machine.
• Customer toilets
Hallway - contained a reception storage unit, a bespoke steel and wood staircase which showcases a beautiful glass fronted wine cellar carefully designed to show the exposed brickwork of the arch.
Kitchen - clad in stainless steel with:
• 6-burner gas oven,
• 4-burner gas oven,
• Salamander,
• 2 fryers,
• Extraction unit,
• 2 large upright fridges,
• Freezer,
• Storage shelves to wall and base storage cupboards,
• Dishwasher,
• Microwaves,
• 2 prep sinks,
• Handwash sink.

Mezzanine floor -
• Main dining space with 2 x arched windows allowing clear views to the beach.
• A choice of solid wood vintage tables and chairs.
• Private dining area/ overflow area
Bar servery - clad in copper with drop pendant lighting and:
• 3 x bar stools,
• 3 points of dispense,
• Under counter chillers and storage,
• 2 x arm semi-automated coffee machine and grinder,
• Ice machine,
• Glass shelving for spirits,
• Further storage units.

There is a separate storage unit located up from the restaurant, housing more dry storage facilities and freezer.

Tenure
We are advised the business is being sold as a Leasehold opportunity with a new 10 year lease paying just £18,000 per year which is highly enviable in this area.

£0 rates being paid in the current year due to the level of street repairs and maintenance being carried out by the council.

Hours
Monday to Thursday - 12.00pm - 10.00pm
Friday and Saturday - 12.00pm - 11.00pm
Sunday - 12.00pm - 10.00pm

Staff
The restaurant is run and managed by our clients with 3 x chefs, 1 kitchen porter, up to 6 waiting staff.

Financial Profile
We are advised the 2018 Turnover will show just over £700,000 with an adjusted net profit for this year of around £200,000.

Property information

Property:

Leasehold

Contact Information

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  1. What will happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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