Stylish Restaurant & Bar in East Sussex For Sale

Situated in a Parade, excellent main road trading position, residential, office and commercial area, HOVE, East Sussex.

Turnover £ 6,000
Price £94,950

Features

Stylish Restaurant and Bar

TOTAL SEATING FOR 80 CUSTOMERS.

5 STAR HYGIENE RATING.

SINGLE FRONTED PREMISES, in the region of 575 ft² - Hardwood flooring, with character pendant lighting.

Tables and chairs seating 40 people.

Bar - EPOS cash register, 4 beer pumps, under counter fridges, glass washer, ice maker, mirror backed shelving, 2 group coffee machine, grinder, knock out drawer, wash hand basin.

Ladies' cloakroom with toilet and wash hand basin.

Gentlemans' cloakroom with toilet and wash hand basin.

Lower ground floor, in the region of 575 ft².

Comprising; Kitchen - Non slip lino flooring, Tuber lighting. Stainless steel extractor, 6 burner cooker, oven, double basket deep fat fryer, microwave, electric oven, grill, salad fridge, 2 chest freezers with stainless steel top, upright freezer, stainless steel fridge, double sink and drainer, dishwasher, stainless steel preparation tables, etc.

Walkin chiller.

Store room.

Staff area.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £6,000 p.w. with a Gross profit of 60% approx. (No deliveries are undertaken)

Staff

The business is at present operated by the vendor with 3 full time staff employed. with the assistance of 2 part time staff.

We are informed the wage bill averages £2,000 p.w. approx.

Trading Hours

7 Day week
MONDAY - THURSDAY 4 pm - Midnight
FRIDAY - SUNDAY 12 Noon - Midnight

Outside

Seating area to rear with tables and chairs for 40 customers.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 15 years in 2021 with reviews every 4 years (next review 2025) at a current rent of £28,000 p.a.

Business Rates from April 2024 £2,500 approx. after small business relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2021

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £94,950 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 47,475 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote