Situated on the busy Furtherwick Road and comprising an elegant 42 cover Portuguese Licenced Restaurant. Only open 5 days a week & closing for the whole of August annually. Flat let with an income of £1,000 per month, but available if required.
Features:
Licenced Portuguese Restaurant
Busy Trading Location
Approx, 1,000 Sq.Ft. Overall
42 Covers
2-3 Bedroom Flat Above
Suit Any Cuisine
Upper Parts:
Self-contained with rear access and comprising a 2-3 bedroom flat let on an AST with an income of £1,000pm.
Turnover:
The accounts of the business for the year ended 31st October 2023 show sales of £209,571, with an adjusted net profit of £45,271.
Rent:
£22,000pa payable monthly at £1,833 per month. VAT is not payable on the rent. With the current rental income from the flat of £1,000 per month, this reduces the net rent payable to only £10,000pa!
Business Rates:
The most recent rating assessment shows an adopted value of £13,500. Qualifying occupants will be able to obtain Small Business Rates Relief, reducing the liability to Business Rates to £1,200pa.
Legal Fees:
Each party is to be responsible for their own legal fees.
