LOCATION
Margate is a thriving historical coastal town with a wide range of independent shops, the Tate Gallery, fashionable bars and restaurants of many sorts which attract people from far and wide. These well appointed premises occupy a coveted trading position fronting a busy Street in the town centre close to the High Street, bustling Old Town and famous seafront.
BUSINESS
This is a well established concern which was established by our clients some 5 years ago and which has now established a tremendous reputation for its food by locals and visitors alike. When established the building was refurbished throughout and all new equipment installed. The premises currently trade as a Thai restaurant but would be ideal for any other style of cuisine, or as a tea rooms/coffee shop or upmarket bar. The first floor is currently being used as storage, but could be used as space for additional seating or separate function room if desired as it boasts a lovely exposed ceiling, feature juliet balcony and its own separate WC. The business holds a Hygiene rating 5 from the FSA.
TURNOVER
We are informed that takings average £6,000 pwk @ 55% GP. Of that approx £2,500 pwk is delivery trade through Just Eat.
Accounts for the year ending April 2023 show sales of £304,795 PA .
STAFF
Owner + 3 full time staff. Plus 2 Part time at weekends.
HOURS
5pm - 10pm Mon to Fri Closed Tues
3pm - 11pm Sat 3pm - 10pm Sun
PREMISES
Double fronted premises with single entrance to: Restaurant/Café area: Recently refurbished throughout. Tables and chairs to accommodate 34 covers. Upright drinks chiller. Servery hatch to kitchen. Disabled WC with hand wash basin. Stairs to first floor: currently used as storage but large enough for approx 34 further covers. Shelving/racking. 2 upright fridges, Sep WC with hand wash basin. Store/Office room: 1 chest freezer, upright freezer. Sep. Shower/Store Room. Kitchen to rear: Fully tiled and fitted to trade with st/stl extractor hood system above a water cooled 5 ring wok range, griddle, 4 ring gas hob, 3 fryers, 2 microwave ovens, st/stl worktops, 2 st/stl freezers, fridge, St/stl dish washer, st/st double sink + st/st single sink both with H&C taps, glass washer, Electronic cash register, gas fired boiler. Sep. hand wash basin with H&C taps. Door to rear yard.The premises are fitted with CCTV and an alarm system.
Outside: Small enclosed yard to rear with bin storage. The vendor currently has 2 parking spaces close-by which he rents at £40 pcm.
TENURE
Approx 12 years remaining on a 20 year lease. RENT - £7,500 PA (3 year reviews)
EPC RATING
TBA
BUSINESS RATES
None payable
