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Licensed Restaurant In Hampshire For Sale

Hampshire
Freehold Price:
£695,000 Furniture / Fixtures included
Leasehold:
£120,000 Furniture / Fixtures included
Turnover:
£220,812
Net Profit:
Available on request

Lic. Restaurant with 3 bed maisonette, sought after posn amidst professional area, thriving town centre, between southampton & portsmouth. Character Grad II Listed Bldg amidst conservation area. Run on chef/patron basis. Same hands 15 yrs. Retirement sale. Tastefully decorated, air con restaurant – seats 36/44 covers with adj. Cocktail Bar & open plan kitchen. 3 bed maisonette above & rear yard. T/O £5,300 pw. Accts. record T/O £220,812 (ex VAT). GP £155,714 (70.5%). Open 5½ days. – Either £695,000 + S.A.V. F’hold, OR, with a new 15 yr lease at £25,000 p.a.x. - £120,000 + S.A.V. (Ref. C.3668)

Property Information

Property:

Available as freehold and leasehold

Lease Terms:

The Vendors are prepared to grant a new full repairing and insuring lease for the restaurant and living accommodation, for a term of 15 years, commencing at an initial rental of £25,000 per annum, exclusive, subject to 5 yearly rent reviews.

Leasehold Rent:

£25,000 per annum

Living Accommodation:

The maisonette above the restaurant is approached via a flight of stairs from the ground floor entrance lobby and comprises, on the first floor: a bathroom with spa bath, a shower cubicle, toilet and wash hand basin. A kitchen with single drainer stainless steel sink unit and fitted cupboards and a sitting room. On the second floor there is a double bedroom, a further small double bedroom and a single bedroom.

Location:

Situated amidst a largely professional area, just around the corner from a bustling multiple shopping thoroughfare, close to many civic buildings and town centre car parks, being within easy reach of the M27 motorway.

Premises Details:

• The restaurant has a charming, small pane, bay window frontage with glazed door and entrance lobby to one side
• The dining area is most attractively decorated, having half-wood panelled citrus colour painted walls and an Amtico wood plank effect floor covering
• There are 2 wall mounted air-condition units and gas central heating
• 20 tables comfortably accommodate between 36 and 44 covers
• To the rear of the dining area there is an archway to a Cocktail Bar with additional seating
• Wood topped bar servery includes: a 2-head espresso machine, an ice maker, a glass washer, 2 under-counter double door fridges, an electronic cash register and a sink
• A passageway gives access to separate ladies’ and gentlemen’s toilets, a meter cupboard (NB 3-phase electricity supply) and a fire exit
• The open plan kitchen area adjoins the Cocktail Bar servery with tile-hung canopy above a stainless steel service counter. The kitchen is well equipped and includes a 6-burner gas cooker, a griddle, a steam combi oven, grill, 2 stainless steel counter fridges and a stainless steel extraction hood
• To the rear of the premises there is an office, a boiler room with 2 gas boilers, washing machine and tumble dryer, a wash-up area with Hobart commercial dishwasher, a storage area with walk-in freezer and 2 fridges and a dry goods store with loft storage above
• To the rear of the property there is an enclosed, part-brick surfaced yard, 2 wooden storage sheds, a covered fridge motor and bin storage cupboard

Business Operation

Expansion Potential:

Suitable for many styles of cuisine.

Reasons for selling:

Pending semi-retirement.

Trading hours:

Open Tuesday to Saturday for lunch from 12.00 noon to 2.00 pm and dinner from 6.30 pm to 10.00 pm. Also open Sunday lunch time from 12.00 noon to 2.30 pm.

Employees:
2 full-time and part-time staff
Years established:
15 years

Other Information

Leasehold asking price:
£120,000 - Furniture / Fixtures included

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