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HIGHLY DESIRABLE AND MOST IMPRESSIVE 'FREE OF TIE' MODERN BISTRO IN A SUPERB CENTRAL LOCATION IN THE FAMOUS AND BUSY MARKET TOWN OF NEWMARKET, SUFFOLK

7767L

  • Very popular and well established dining venue which has been refurbished to a high standard throughout (circa 32).
  • Excellent and enviable central location.
  • Alfresco pavement dining area (circa 8).
  • Fully equipped bar servery and coffee station.
  • Fully equipped 5 Star Commercial Kitchen,
  • Advised current turnover circa £280,800 (inc VAT) for year ending April 2015.
  • Trade split 20% wet, 80% food.
  • Free of Tie renewable private lease with 12 years remaining.
A RARE OPPORTUNITY TO ACQUIRE THIS WELL MAINTAINED AND SUCCESSFUL BUSINESS IN AN IDEAL LOCATION WITH FURTHER GROWTH POTENTIAL

ASKING PRICE £67,500 FREE OF TIE LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

  • Very popular and well established dining venue which has been refurbished to a high standard throughout (circa 32).
  • Excellent and enviable central location.
  • Alfresco pavement dining area (circa 8).
  • Fully equipped bar servery and coffee station.
  • Fully equipped 5 Star Commercial Kitchen,
  • Advised current turnover circa £280,800 (inc VAT) for year ending April 2015.
  • Trade split 20% wet, 80% food.
  • Free of Tie renewable private lease with 12 years remaining.
A RARE OPPORTUNITY TO ACQUIRE THIS WELL MAINTAINED AND SUCCESSFUL BUSINESS IN AN IDEAL LOCATION WITH FURTHER GROWTH POTENTIAL

ASKING PRICE £67,500 FREE OF TIE LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

THE PROPERTY

Is located on the ground floor level of a shopping mall of brick construction with part glass frontage and tile pedestrian walkway and is in excellent condition and well maintained throughout.

The Bistro (Circa 32)

Is a modern and stylish restaurant with exposed feature brickwork, wooden effect floor, fully equipped wooden bar servery and coffee station, tasteful lighting and is decorated and furnished to a very high standard with solid wooden tables and matching high back leather chairs.

Catering Facilities

There is a fully equipped 5 * rated commercial kitchen (equipment not tested) with stainless steel surfaces, extractor system cooker, hot lamp station and deep fat fryers etc, stainless steel fridge and freezer and separate prep and washing up area.

Customer Toilets

All in good decorative order and well maintained.

EXTERNAL

To the front of the property there is an alfresco pavement dining area (circa 8).

TRADING HOURS

We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:

Mon-Sat 11.00am to 11.00pm

Sun midday to 10.30pm

Current opening hours are:

Mon Closed

Tue-Fri 11.00am to 03.00pm, 06.00pm to 10.00pm

Sat 11.00am to 10.00pm

Sun midday to 03.00pm

NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the APLH Qualification in readiness for their intended operation of the Public House.

GENERAL REMARKS

The business is offered for sale as a lease assignment with approximately 12 years remaining of the full repairing and insuring renewable agreement. We are advised that the establishment is free of tie. We are informed that the rent is currently £24,000 per annum to be reviewed April 2018, it should be noted that there is a three month rent deposit required on assignment. We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium - subject to the provision of the Landlord & Tenant Act 1954. We are advised that the inn benefits from mains services (no services seen or tested). Business rates payable are advised as currently being circa £7,020 per annum.

THE BUSINESS

Our vendor clients took over the business in March 2012 and have totally refurbished it to a very high standard and since then they have built up a well established trade and reputation for good hospitality and excellent food with a large number of regular customers from the local community and surrounding area - currently rated No 1 on Trip Advisor. Due to the excellent location it also benefits from the many visitors to Newmarket all year round but especially during the racing season.

The business is currently being run by the owners full-time, two full-time kitchen, one full-time front of house and 5 part-time staff. Due to other business commitments our vendor clients have decided that they wish to assign the lease. Advised turnover is circa £280,800 (inc. VAT) for year ending April 2015 split 20% wet, 80% food.

There is further growth potential for new owner operators to build on this already successful business by extending opening hours to all day and by possibly introducing theme nights with entertainment.

Accounting information will be made available to interested parties after viewing.

This business was viewed by Geoff Bryan who would be delighted to discuss further details and can be contacted on 07887 571720.

Viewing appointments must be made by contacting Guy Simmonds on 01332-865112.

ADDITIONAL IMAGES

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