This ideally located Italian restaurant is in a highly populated residential area, on a thriving parade of shops in Saltdean, which attracts people to the area with accessible street parking. The business was established 8 years ago and now only comes to the market due to the vendor’s wish to focus on other business opportunities. During this time the vendor has developed an excellent reputation for serving freshly prepared Italian food and has received excellent reviews on Google Reviews (4.8*), Trip Advisor (5*), Just Eat (4.8*) and Open Table (4.6*). The restaurant also has a thriving take away side of the business as well as those customers that choose to dine in the restaurant.
THE PREMISES: This business operates from a double-fronted premise on a busy parade of shops in a coastal village of Saltdean, which is just outside of Brighton. There is street parking readily available for customers. The restaurant has space for 24 covers internally, with an additional 30 covers on the decking area to the front of the building. On entering the restaurant, there is a serve over counter which is used to display deli items, fresh salads and cakes. Behind this area is a small food preparation area and coffee machine and grinder. The kitchen is just adjacent to this area and is fully fitted with commercial extraction, 3 deck pizza oven and frigerated pizza prep counter. To the rear of the restaurant is the toilets. The restaurant is also fitted with CCTV. The building is fitted with solar panels and as such the landlord has agreed to pass on a 50% reduction on the electricity bill.
TURNOVER: The turnover is currently averaging £5,200 per week, based on a 48 week year, as my client closes the business for 4 weeks every year. The business currently trades Monday 5pm-10pm and 10am-10pm on Tuesday-Saturday. The vendor works full time in the restaurant as the chef of 1 other full-time chef, 2 full time and 2 part time waiters and 2 delivery drivers.
TENURE: The premises will be held a new 12-year full repairing and insuring lease at a commencing rental of £15,000 per annum, with four yearly upward only rent reviews.
RATES: We have been verbally informed that the business receives the benefit of the Small Business Rate Relief and the amount payable at the present time is zero. The rateable value for the property is £10,000 per annum. Prospective occupiers should make their own enquiries to verify same.
GENERAL REMARKS: This business was personally inspected by the vendor’s sole agents who can thoroughly recommend this as being an extremely well-presented restaurant, which will produce sound profits. New secure lease. Long standing business, with an excellent reputation. Ideally located on a busy high street and surrounded by residential properties. Both eat in and takeaway streams available.
PRICE: We are instructed to quote for the lease, goodwill, premises licence, equipment, trade fixtures and fittings £69,950.SAV.
LEGAL FEES: Each party to be responsible for their own legal costs.
VIEWING: On no account should any approach be made to the staff without a prior appointment through the vendor’s sole agents, Watkins Commercial, Telephone: 01273 709090.
ENERGY PERFORMANCE CERTIFICATE: The premises has been rated a Band D and the full report is available upon request.
DISCLAIMER: Neither the Vendor nor the Agent gives or implies any warranty that the premises are fit for any particular use or that they comply with any relevant regulation or statutory requirement.
The agents have not tested any apparatus, equipment, fittings or services so cannot verify that they are in working order. The buyer is advised to obtain verification from their solicitor or surveyor before proceeding with the purchase.
VAT: All prices and rents are quoted exclusive of VAT. Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.
MORTGAGE & FINANCIAL PLANNING: We shall be pleased to assist any purchaser in arranging finance to acquire this business or any other business you may be considering subject to status.
Prop. Ref: 6794C
These particulars are believed to be correct but their accuracy is not guaranteed and they do not form any part of any contract
APPLICANTS CONFIDENTIALITY AGREEMENT
I understand and agree that any information regarding any business supplied to by Watkins Commercial will be kept strictly confidential. I also undertake that I will:
i) View businesses registered with Watkins Commercial by appointment only.
ii) Not contact any owner, staff, suppliers, competitors or customers of any business registered with Watkins Commercial
iii) Not pass on any information supplied by Watkins Commercial to any third party other than a professional advisor et. Bank, solicitor, surveyor accountant, etc.
iv) Submit any offers direct to Watkins Commercial with whom I will conduct all negotiations
v) Be liable for any commission which would have been due to Watkins Commercial should I be party to negotiations or actions which seek to preclude, or are contrary to the interest of Watkins Commercial
