PRIME LOCATION COCKTAIL BAR & RESTAURANT, ALCOHOL LICENCE, CHURCH ROAD, HOVE

The cocktail bar & restaurant come to the market in excellent condition having only just gone through a complete refurbishment. The cocktail bar/restaurant is located on a busy parade on Church road, Hove and is adjacent to the popular shopping area of George Street. Church Road is a very busy main road, with a number of main bus routes running along it and benefits from a high footfall throughout the year. The business has developed an excellent reputation offering delicious food and cocktails and has achieved a 5-star rating on Google Reviews. It only now comes to the market due to the vendors wishing to focus on other business opportunities.

THE PREMISES: This is an extremely smart premises having recently under gone a full refurbishment and comes to the market in excellent condition. The bar/restaurant occupies a fantastic location on corner of Church Road and Albany Villas. The ground floor provides covers for 36. The bespoke cocktail bar is located to the rear of the premises. The kitchen is fully fitted with full extraction and is located in the basement. The kitchen has a separate preparation area, dry store and washing up space. The kitchens have a wealth of fixture and fittings and a full inventory is available on request. The customer toilets are also located on the lower ground floor, where there is also a staff room. The premises is also fitted with a sound system and has CCTV.

TURNOVER: The business is currently run by the vendors with the assistance of 6 front of house staff and 1 full time chef and 1 part time kitchen staff member. The business trades between the hours of 3pm – 12am Thursday-Sunday. Details of the turnover will be shared with any bona fide purchaser.  

ALCOHOL LICENCE: - 1445/3/2020/04028/LAPREN

The sale and supply of alcohol shall be by waiter/waitress service to persons seated at tables and there will be no vertical drinking. Substantial food shall be available at all times that alcohol is offered for sale on these premises.

Late Night Refreshment

Times: 23:00:00 - 00:00:00 Every Day

Sale by Retail of Alcohol

Alcohol consumed:  Both on and off the premises

Times: 11:00:00 - 00:00:00 Every Day

TENURE:  The premises are held on a full repairing and insuring lease, which has approximately 5 years unexpired at a current rent of £22,000 per annum.  The next rent review is due to take place in 2023.

RATES: The rateable value is £22,250 per annum and the current rates payable are zero, due to the property benefiting from the small business rate relief. 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. Equipped and decorated to a very high standard. Secure lease. High footfall throughout the year. Fully fitted kitchen.

PRICE: We are instructed to quote for the lease, goodwill, premises licence, fixture and fittings £120,000 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 premises has been rated a band E, 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:        6715C

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.