PRIME LOCATION FITTED KITCHENS, ALCOHOL LICENCE, 70 COVERS CHURCH ROAD, HOVE

The restaurant 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 on Church road, Hove which is a bustling main road, which has a number of main bus routes and benefits from a high footfall throughout the year. Church Road is surrounded by a combination of large house and flats, as well as offices. The restaurant has been in the current vendor’s hands for over 2 years and during this time has created excellent goodwill and has achieved a fantastic reputation with outstanding reviews on Facebook (5*), Trip Advisor (4.5*) and Google Reviews (4.5*).

THE PREMISES: This is an extremely smart premises having recently under gone a full refurbishment and comes to the market in excellent condition. The ground floor provides covers for 55 inside with an additional 10 outside at the front of the building. The vendors installed a custom-built cocktail bar where customers can drink or dine there. Behind the bar is access to the dumb waiter from the kitchen on the lower ground floor. Towards the rear of the ground floor is a separate private dining area. The large kitchen is located on the lower ground floor and has a wealth of fixture and fittings and comes to the market in excellent condition. The kitchen has the benefit of full extraction with a walk-in chiller room. With a separate preparation area and washing up space. The customer toilets are located on the lower ground floor, where there is also an office.

TURNOVER: The business is currently run by the vendor with the assistance of 4 part time front of house staff and 2 full time chefs, kitchen staff. The business trades between the hours of 12pm – 10:30pm Wednesday – Sunday. The current average weekly turnover is £7,000 per week.

ALCOHOL LICENCE: - 1445/3/2018/05742/LAPRET

Sale of retail alcohol

12:00:00 - 23:00:00 Monday-Saturday

12:00:00 - 22:30:00 Sunday

TENURE:  The premises are held on a full repairing and insuring lease, which has approximately 13 years unexpired at a current rent of £45,000 per annum.  There is a break clause and rent review in 2026.

RATES: The rateable value is £36,000 per annum and the current rates payable are £6,840 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. 70 covers.

PRICE: We are instructed to quote for the lease, goodwill, premises licence, fixture and fittings £95,000 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 C, 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:        6742C

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.