Caribbean Bar & Grill in East Sussex For Sale

Close to High Street and Sea Front, EAST SUSSEX

Turnover £ 22,000
Price £325,000

Features

Caribbean Bar & Grill Restaurant

OUTSIDE SEATING FOR 50/60 PERSONS

5* HYGIENE RATING

DOUBLE FRONTED PREMISES in the region of 2,600 ft² with woodstrip floor, spotlights. BAR with seating for 6 persons. 2 EPOS tills. Tables and chairs providing seating for 100 persons.

KITCHEN with stainless steel extractor unit, 3-deck pizza oven, grill, 6 rings hotplate, 3 microwaves, 2 under-counter tripple fridges, fridge, walk-in coldroom, 4 deep freezes, double sink and drainer, 4 stainless steel preparation tables.

Ladies' & gentlemen's toilet with w.c. and wash hand basin.

Office/Stock Room

Turnover

WE ARE INFORMED by the owner the turnover currently averages £22,000 p.w. with a gross profit of 65% approx.

Staff

The business is at present operated by the vendor with 4 full time and 6 part time staff.

Trading Hours

7 Day week
MONDAY - SATURDAY 1 p.m - 12 midnight
SUNDAY 1 p.m - 11.30 p.m

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a NEW 16 YEARS FULL REPAIRING AND INSURING LEASE from a private landlord, with rent reviews every 4 years at a current rent of £44,000 p.a. plus VAT. In addition we understand there is a Service charge of £15,500 p.a. approx. plus VAT

Business Rates from April 2023 £6,750 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2020 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £325,000 plus STOCK AT VALUATION (£10,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 162,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote