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Italian Restaurant Seafront Location West Sussex For Sale

West Sussex, UK
Asking Price:
£275,000
Turnover:
£1,040,000
Net Profit:
Available on request

This outstanding restaurant located in a prime location in a coastal town in West Sussex and overlooks the English Channel. The town has seen exceptional growth and investment in recent years with additional high-end flats being built nearby. The restaurant is very well supported by local residents and visitors to many of towns key attractions such as the theatre. The business has been in the present vendors hands for 22 years and the premises had a full refurb 10 years ago. During this time has achieved an excellent reputation and is highly rated on Trip Advisor, Google Reviews, and Facebook. The vendors have now only decided to sell due to their wish to retire.

Property Information

Property:

Leasehold

Lease Terms:

The current lease only has one year remaining, and the landlord has indicated that they would offer a new 15-year full repairing and insuring lease, at a commencing rental of circa £35,000 per annum, with 5 yearly rent reviews. However, the exact lease terms will need to be negotiated with the landlord.

Living Accommodation:

The premises benefits from a large self-contained flat which is accessed by the rear of the property and is located on the 2nd floor. The flat comprises of 2 bedrooms, kitchen, a large lounge and family bathroom. The flat is currently let for £1,000 per month. PLEASE NOTE: We were unable to carry out an inspection of the flat when visiting the premises.

Location:

This outstanding restaurant located in a prime location in a coastal town in West Sussex and overlooks the English Channel. The town has seen exceptional growth and investment in recent years with additional high-end flats being built nearby. The restaurant is very well supported by local residents and visitors to many of towns key attractions such as the theatre

Premises Details:

The restaurant is located on the seafront and occupies a prime location and is clearly visible from the main road and benefits from a high footfall throughout the year. On entering the ground floor of the restaurant there are covers for some 70 persons, with a bar towards the rear of the restaurant. Adjacent to the bar is access to the impressive fully equipped kitchen which has a wealth of fixtures and fittings. The vendor has also confirmed that all equipment is well maintained and regularly serviced. A full inventory of the equipment will be made available to any bona fide purchaser. To the rear of the premises is a large walk-in chiller, as well as a dry store which is accessed via the yard. There is also a disabled toilet available on the ground floor. On the first floor is additional seating for a further 48 covers inside and 18 covers on the balcony terrace which offers panoramic views of the pier and English Channel. The first floor also has its own bar and is regularly used for private events such a wedding reception, birthday celebrations and corporate functions, to name a few. Towards the rear are the separate ladies and gents’ toilets, as well as staff changing area and alcohol storeroom. On the second floor there is additional storage and also access to the flat. Customers visiting the restaurant can either park in one of the many car parks or alternatively there is also on street parking available.

Planning Consent:

A3

Business Operation

Reasons for selling:

Retirement

Trading hours:

Monday – Saturday 12pm – 12am

Employees:
15 restaurant and Kitchen
Years established:
22 years

Other Information

Support & training:

yes

Contact Watkins Commercial

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