Well established Seafood Restaurant For Sale

Business
Please quote reference B08238

CoGoGo is delighted to present this highly successful and profitable seafood restaurant, established by the current owners in 2016. The business is now available for sale due to the owners’ plans to retire, offering a unique opportunity for a new owner to take over an already thriving business.

Overview: Renowned for its premium fresh seafood and relaxed, friendly ambiance, this restaurant has earned its reputation as one of the finest dining spots in the region. The restaurant exclusively sources its ingredients locally, with lobsters caught just off the nearby beach and steaks from trusted Sussex farms, ensuring freshness and quality that keeps customers returning.

Key Features:

• Established and Profitable: The restaurant began with no prior turnover and is now projected to reach £1M in annual revenue, with significant growth potential. The introduction of a newly constructed beach terrace promises an additional 40-50 covers, which could easily boost turnover to £2M in coming years.
• Diverse Clientele: With a mix of local residents, business professionals, tourists, and visitors from London, the restaurant enjoys a wide customer base.
• Outstanding Reputation: Boasting rave reviews on platforms such as TripAdvisor, OpenTable, and a 4.8/5 rating on Facebook, the restaurant is praised for its quality, service, and consistent excellence.
• Popular Menu: With an average spend of £45-£50 per head, the restaurant offers a diverse menu featuring popular small plates, brunch options, and seasonal offerings like a Christmas day menu. During peak summer months, the restaurant serves over 30 lobsters a day, more than any other seafood restaurant in the vicinity.

Additional Opportunities: In addition to its core lunch and dinner service, the restaurant has expanded its offerings to include business lunches, private parties, wedding receptions, and more. The addition of a full breakfast menu is a potential avenue for increasing daytime trade, complementing the already successful brunch menu.

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.

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

Staff
A well-trained and experienced team is ready to support the new owner, ensuring a smooth transition.

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

A full handover will be provided to facilitate continuity and allow a new owner to step in with confidence.

Financial Profile
2023 Turnover Turnover – £859,913

Full financials can be made available upon request.