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Restaurant for sale

Malthouse RestaurantWaterloo Road,Felpham,Bognor Regis,PO22

£489,995

Property Description

Commercial information

  • Business for sale

Full description

Tenure: Freehold

LOCATION
The Malthouse Restaurant occupies a substantial two storey premises, ideally located in the charming village of Felpham in the Arun District of West Sussex.

The business is only one road back from the seafront and is surrounded by many residential properties from which the business derives much trade in addition to the honeypot of tourists visiting this charming coastal village. The business is often recommended by local bed and breakfasts in the area. The property benefits from off free parking directly to the front. We are also advised that 2 large housing estates have recently been built in the area.

Felpham is located one mile to the east of Bognor Regis. The village is best known as the former home of William Blake, who wrote his epic poems 'Milton' and 'Jerusalem' during his time in Felpham. The centre of the village has a conservation area, which features many buildings of local interest, many of which were built in a typical West Sussex style using flint and stone.

The area of the business is well served by the public transport system, with bus stops within easy walking distance of the property. The nearest railway station is in Bognor Regis approximately one mile away. The area is also well served by the A-roads, with the A259 being within easy driving distance, which links to the national A-road and motorway networks. Chichester is approximately 7 miles away and Worthing is 17 miles away.
BUSINESS

Hilton Smythe is delighted to welcome to the market the Malthouse Restaurant. The business was founded by our clients a successful husband and wife team over 40 years ago. Only now does the business come to the market as our clients look towards a well-deserved retirement.

The restaurant is renowned for its fine dining cuisine, mostly traditional English fayre using fresh locally sourced high quality produce and drink where ever possible. The business reports a turnover of around £63,000 per annum with a gross profit at circa 60%. We believe that turnover can easily be increased by extending opening hours.

The restaurant offers a relaxed and friendly experience for diners in opulent surroundings. Refurbished 5 years ago the business also benefits from a license until midnight. The restaurant is immaculately presented, with simple but very stylish décor and quality solid wood tables and leather chairs with capacity for 30 covers.

The business is very well supported by the local community seeing much repeat trade as well as benefitting from passing trade from tourists. Goodwood Festival of Speed and Revival brings in additional trade each year and Butlin's have built several hotels in the area which could be a source of new custom. The business has an informative website
www.malthouserestaurant.co.uk as well as a presence on social media to promote awareness.

In addition the restaurant provides a beautifully presented 4 bedroom owners accommodation making this an ideal acquisition, for perhaps, a couple or family looking for a lifestyle change in this charming location.

PREMISES
Well-presented double fronted premise briefly comprising:-

Attractive white washed exterior with good signage.

Entrance hallway- fire alarm point and glass door into restaurant.

Dining area with 30 covers consisting of 4 tables of 4 and 7 tables of 2. Attractive solid wood tables and leather chairs (32 in total), full length window blinds.

L shaped bar with under-counter storage shelving, music system, double fronted glass chiller, rear wall shelving and 2 wine racks.

Single ladies and gents toilets, coat storage area including a portable disabled ramp and storage.
Preparation area housing washing machine, 2 x undercounter fridges, 1600 watt microwave, kettle, coffee maker and storage shelving.

Kitchen - Rayburn stove (also provides central heating for restaurant and owners accommodation), 6 x gas burner oven, Lincat grill, 2 x microwaves, 2 x stainless steel prep benches , stainless steel storage shelving rack, 1 x large upright fridge, stainless steel hand wash unit, double prep sink unit, 3 x fixed wall shelving units and fryer.

Utility room/lean too - houses 2 x upright freezers

First Floor
Owners accommodation , Accessed by a separate front door to left side of building -
Sitting room with original sash window to front
Master bedroom with walk in wardrobe
2nd bed - small double room to rear aspect with built in wardrobe.
3rd bed - small double to rear
4th bed or potential kitchen to rear
Store cupboard
Family bathroom
All upstairs rooms have original sash windows.

Private courtyard garden with side access to communal alley way
Outhouse building - houses another washing machine
Wooden shed

Free parking directly in front.

TENURE
We are advised freehold.

HOURS
The business opens:-

Tuesday and Wednesday 12noon - 1.30pm (last orders)
Thursday, Friday and Saturday 12noon - 1.30pm and 6.30pm - 9.00pm. (last orders).
Sunday 12noon - 2.30pm (last orders)
Monday closed.

STAFF
The business is owner run and managed by a husband and wife team.

FINANCIAL PROFILE
The business reports a turnover of around £63,000 per annum with a gross profit at circa 60%. We believe that turnover can easily be increased by extending opening hours.


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