Highly Profitable Coastal Pub/Restaurant in West Mersea, Essex

Key Points
Outstanding Location in Affluent West Mersea
Riverside Location on Blackwater Estuary
Extended and Refurbished in 2019
Turnkey Operation
Ground Floor Bar & Restaurant c120 covers
1st Floor Lounge Area and Balcony c50 covers
Up to 140 External seats to front
Total Floor Area of 4,424 sq ft
Extensive & Well-Equipped Trade Kitchen
Car Park and Estuary Car Park (30)
Full Year Turnover to 31st August 2023 – £1,365,575
New Free of Tie Lease

Property
All areas refurbished in 2019 with the addition of the balcony and covered seating area.

Front entrance into main bar area with ‘mariner’ theme decoration with large horseshoe servery with extensive back bar display. Open plan space with wooden flooring throughout and open fireplace. can seat approx 50 customers. To the rear is a split dining area across 2 rooms for approximately 70 customers, which is also ideal for private hire. Ladies and Gents facilities. Ground floor cellar and bottle store. Extensive and fully equipped trade kitchen withe separate prep/wash up area.

internal stairs from the bar leading to the 1st floor, consisting of a further dining space, as well as a lounge area with patio doors leading to balcony overlooking the estuary. Upstairs can seat approximate 30 customers. Ladies and Gents facilities. There is also access to a ‘minstrel gallery’ overlooking the bar below. Access to private staff area with fire escape access, currently used as store rooms with kitchenette and staff bathroom, which could be converted to a one bedroom self contained flat with kitchen, lounge, double bedroom and bathroom.

External areas consist of a balcony on the 1st floor (22 covers). Immediately underneath is a covered paved seating area, leading to further paved seating area by the main entrance. Large paved car park to the front, which can also seat a further 100 covers during the busier summer months. There is more car parking available in the estuary car park immediately opposite. Private Courtyard garden to the rear with large walk in fridge and several storage sheds for utilities and dry store.

Measurements
Site Area of 0.248 acres

Total Floor Area of 4,424 sq ft

*All measurements are approximate and taken from digital mapping

Planning
The building is not listed and is situated within a Conservation Area.

Tenure
New ‘free of tie’ lease with term to be agreed. Commencing rent of £80,000 per annum (exc VAT). A business plan, lease application for credit check purpioses, 3 year profit & loss projection and guarantor (depending on operator covenant strength) will need to be secured with Everard Cole. A three month rent deposit will also need to be secured of £20,000. Experienced operators only need apply.

Fixtures & Fittings
All trade fixtures and fittings are included in the premium price, save for leased items such as the coffee machine tills and Kitchen dishwasher.

The Business
Our client has been running the Coast Inn for a number of years and now wishes to step back and retire. During their time they have secured one of the most popular pubs in the area, focusing on serving the finest and freshest seafood, along with a wide variety ‘locally sourced’ menu. The idyllic views across the Blackwater Estuary from the front seating area and 1st floor balcony have made the pub a busy hub for locals and visitors to the island. Trade is further boosted by the annual West Mersea Town Regatta every August. The business currently trades on a 65/35 food led split. There is a full compliment of contracted staff between the Kitchen and front of house, as well as an abundance of casual bar and waiting staff. The business is currentl open 7 days a week. Turnover for year ending 31st August showed a turnover of £1,365,575. Full accounts can be made available following a formal viewing via Everard Cole.

Rates & Charges
Rateable Value: £16,000 as of 1st April 2023