LICENSED RESTAURANT IN NEWHAVEN MARINA EXCELLENT REPUTATION 110 COVERS

This is a fantastic opportunity to acquire a superb restaurant with an outstanding reputation located in Newhaven Marina. Newhaven is a coastal town in Sussex and is located 9 miles east of Brighton and Lewes is 8 miles to the north. The restaurant comes to the market in very good condition and is situated in Newhaven marina and has views overlooking the quay. There are several large blocks of flats part of the marina development which has created a busy and vibrant area. The restaurant has been in the current vendor’s hands for 12 years and during this time has created excellent goodwill, with a 4.6* rating on Google Reviews, 4.7* on Facebook and 4.5* on Trip Advisor. At present the vendor offers an Italian menu during lunch and evening times and a breakfast/ brunch menu in the morning.

THE PREMISES: The double fronted unit comes to the market in excellent condition. The main restaurant allows for 55 covers inside with a further 55 outside as well, which benefits from the sunshine throughout the day.
At the front of the premise is a bar which also includes a two-group coffee machine and grinder and under the counter drinks fridges. Towards the rear of the restaurant is a separate open plan kitchen which is used to prepare and cook the pizzas and included a double pizza oven. The main kitchen is at the very rear and is fully fitted to trade with full extraction which is regularly serviced and maintained. There are separate ladies and gents available and also a large storage room which is currently used for freezers/fridges. However this space could be easily adapted to provide additional covers in the restaurant.

TURNOVER: The business is currently run by the vendors with the assistance of 2 part time and 2 full time staff members. The business trades between the The current average weekly turnover in the restaurant is £4,200 per week.

ALCOHOL LICENCE: – Alcohol consumed on the premises between the hours of:
07:00:00 – 23:00:00 Monday – Sunday

TENURE: A new 12-year lease will be granted at a commencing rental of £25,000 per annum, with upward only rent reviews every 4 years. There is also an annual service charge of £2,800.

RATES: The rateable value is £14,500 per annum and the current rates payable are £4,000 per annum, due to the small business rate relief scheme. 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. Ideal location overlooking Newhaven harbour. Indoor and outdoor seating available. New secure lease. Excellent reputation. Alcohol licence. Daytime and evening trade. Both eat in and delivery revenue streams.

PRICE: We are instructed to quote for the lease, goodwill, premises licence, fixture, and fittings Price reduction £35,000.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 property has been rated a band C and the full report is available on 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: 6824C

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.