RESTAURANT & WINE BAR CENTRAL HOVE LOCATION FITTED KITCHENS, ALCOHOL LICENCE, 74 COVERS

The restaurant & Wine bar comes to the market in excellent condition and is located in one of the best locations in Hove.  The restaurant is located on a busy parade in central Hove which has a number of main bus routes and benefits from a high footfall throughout the year. The restaurant is located in an affluent area and is surrounded by a combination of large houses and flats. The restaurant has been in the current vendor’s hands for 17 years and during this time has created excellent goodwill and has achieved a fantastic reputation with outstanding reviews on Facebook (4.4*), Trip Advisor (4*) and Google Reviews (4.3*). The restaurant currently specialises in Italian food with all food prepared and cooked freshly everyday as well as offering a comprehensive wine and cocktail list. The business is now only coming to the market as the vendor wishes to focus on other business opportunities.

THE PREMISES: The restaurant benefits from being situated on a corner premise in the centre of Hove. The restaurant has been regularly maintained and comes to the market in excellent condition. There is seating for 46 covers inside with an additional 26 covers outside to the front of the restaurant which benefits from the afternoon/evening sun. The outdoor seating also has the benefit of outdoor heating lamps which hang above the tables. There is a custom-built bar to the rear of the premises which has an opening into the main kitchen. Adjacent to the bar is a dumbwaiter which provides access to the basement kitchen. The ground floor kitchen is fully fitted to trade and has the benefit of full extraction, a double pizza oven, chilled pizza prep area and stainless-steel equipment throughout. The basement kitchen has a large preparation area, washing up area with a dishwasher. There are also ample dry storage areas and a walk-in chiller. The customer toilets are also located in the basement with a separate ladies and gents and customer cloakroom. The premises are fitted with CCTV and fire alarms.

TURNOVER: The business is currently run by the vendor with the assistance of 1 full time manager, 1 full time assistant manager, 2 full time chefs, 1 Kitchen porter and 3 part time waiting staff. The business trades between the hours of 12pm – 3pm and 5pm-10pm Monday-Thursday then 12pm-10pm on Friday-Sunday. The current average weekly turnover is £6,600 per week and full trading accounts are available upon request. The restaurant currently operates a very successful delivery side of the business and works with Deliveroo and Uber Eats. The vendor has also hosted a number of private parties for clients where they have use of the entire restaurant.

ALCOHOL LICENCE:

Sale of retail alcohol

11:00:00 - 23:00:00 Monday- Thursday, Sunday

11:00:00 - 23:30:00 Friday-Saturday

TENURE:  The premises are held on a full repairing and insuring lease, which has approximately 3 years unexpired at a current rent of £43,200 per annum, inclusive of VAT. 

RATES: The rateable value is £18,000 per annum and the current rates payable are £3,600 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 business. Fantastic location in central Hove. Secure lease. High footfall throughout the year. A combination of 72 covers inside and outside.

PRICE: We are instructed to quote for the lease, goodwill, premises licence, fixture and fittings £75,000. 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:  Our client is in the process of obtaining an EPC.

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:        6746C

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.