8209L

• Prominent and well positioned business situated in the desirable and prime location of Littlehampton.
• Welcoming and relaxing and versatile Restaurant and Bar (circa 150).
• Well-equipped Commercial Catering Kitchen.
• Presented in excellent decorative order having been refurbished and modernised throughout with no expense spared.
• Advised turnover for YE June 2019 circa £265,000 (incl. VAT).
• Trade derived from circa 75% wet sales and 25% food sales. Undoubted potential for catering/event orientated operators
• Private FREE-OF-TIE renewable lease with a favourable rent.
• IDEAL FIRST TIME BUY.

Location

This superb business is located in the seaside resort town of Littlehampton. Located within the M23/A23 corridor having excellent road communications providing easy access to the M23, M25, M27 and M3 motorways making this superb location an extremely popular commuter area for the major motorways and the major international airports of Gatwick and Heathrow. The seaside town of Littlehampton is also within the catchment area of many similar affluent villages and towns in addition to being situated close to Chichester, Arundel and the coastal resorts of Worthing, Brighton, Hove and Bognor Regis and is also approximately only 20 minutes from the Goodwood Racecourse making this superb inn ideally situated to attract trade from these nearby surrounding towns and villages. A compelling business opportunity.

THE PROPERTY

This impressive property occupies a prominent and busy trading position close to the river receiving excellent levels of footfall and passing trade. Main entrance at the front (from the riverside walkway) leading into the lobby with access into the Restaurant and Bar.

Restaurant and Bar (circa 150) being of a very good size, providing an inviting and relaxing ambience and offers versatile and multi-functional usage; ideal for a variety of events including weddings, private parties, live bands and shows etc and is presented in excellent decorative order.

There is a feature return bar servery with a polished Italian tiled counter and a back fitting with trade optics and refrigerated bottle coolers (not tested).

The room is extremely well furnished with an excellent range of glass tables, solid oak tables, leather chairs, fixed comfortable upholstered perimeter seating and bar chairs.

This is a modern contemporary room exuding a wonderful stylish and welcoming ambience, furnished to the highest levels of quality.

Catering facilities include a well-equipped commercial Kitchen with stainless steel appliances and preparation surfaces (appliances not tested).

Ground Floor Cellar with delivery access, pumps, pythons x2, post mix and cooler.

Ladies and Gents W.C.s.

EXTERNAL

There is a riverside brick paved terrace (circa 50) with timber pergola over and is furnished with timber picnic benches. Private parking facilities for 2 cars.

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:

Monday – Sunday – 11.00am – 11.00pm

The current opening hours are as above.

NB. Important. Prospective purchasers wishing to continue to operate this restaurant and bar should ensure that they gain the APLH Qualification in readiness for their intended operation of this business.

GENERAL REMARKS

The business is offered for sale as a lease assignment with approximately 7½ years remaining of the private Free of Tie full repairing and insuring agreement. 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 informed that the rent is currently ONLY £20,000 per annum.

We are advised that the inn benefits from all mains services (no services seen or tested).

Business rates payable are advised as currently being circa £9,000 per annum.

THE BUSINESS

Our vendor clients, in situ since 2011, operate this well established and successful business as a ‘husband and wife’ team on a full time basis with the assistance of 1 full time and 4/5 part time members of staff.

Trade is currently derived from circa 75% wet sales and 25% food sales, thereby providing massive scope for a new hands-on owner operator partnership with previous experience of running a catering/events orientated operation to take this business to the next level by exploiting the food and functions potential that is to be found here. There are many areas of potential to increase sales and profitability by implementing a strategic marketing campaign to utilise the premises for weddings, private parties, wakes and functions etc. There is also immense potential due to the high level of footfall and passing trade emanating from the exceptionally busy trading position; to facilitate early opening hours and to provide coffee and breakfast etc which would have an incredible positive impact on the turnover and profits. This is truly an exciting business opportunity for those seeking a lifestyle change or an alternative career from the stress and strife of the City.

Advised turnover for YE June 2019 circa £265,000 (incl. VAT). This delightful restaurant and bar is a well-established and successful business and in our opinion with the above areas of potential we would quite easily expect a fully focused and fully committed operator to achieve a turnover well in excess of £350,000 (incl. VAT).

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

Viewing appointments must be made by contacting Guy Simmonds at sales@guysimmonds.co.uk.

Details Prepared: February 2019