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Restaurant for sale

Farm Road, PO20

260 sq. m. | £142,000

Property Description

Commercial information

  • Business for sale
  • 2,798 sq ft (260 sq m)

Key features

  • REF: 2880
  • LEASEHOLD
  • RESTAURANT
  • BAR

Full description

Tenure: Leasehold

LOCATION
The Pond Bar and Restaurant occupies substantial premises, ideally located in Bracklesham, near Chichester, West Sussex. The bar and restaurant is surrounded by densely populated residential areas, from which the business derives much of its trade. The business is situated just 100 yards from the Sussex coast, therefore benefiting from a very high volume of footfall and passing trade, as the area is very popular with tourists and visitors.

Bracklesham Bay is located on the west side of the Manhood Peninsula in West Sussex. The bay looks out across the English Channel and the Isle of Wight is visible from the beach, as is the Nab Tower lighthouse and Spinnaker Tower in Portsmouth. The area is very popular with windsurfers, divers, surfers and also fossil hunters, as the Bracklesham Beds, a well-known fossil bed, is visible at low tide.

The area is served by the public transport system, with bus stops within easy walking distance of the property. The nearest railway station is in Chichester, approximately 7 miles away. The area is also served by the A-roads, with the A286 being within easy driving distance, which links to the national A-road and motorway networks. Bognor Regis is approximately 12 miles away and Portsmouth is 22 miles away.

BUSINESS
Hilton Smythe is delighted to welcome to the market this well-established and busy bar & restaurant business in Bracklesham, West Sussex.

The business was established over 100 years ago and has been in our client's careful ownership since 2013. The pub currently operates 7 days per week and the restaurant alternates its opening hours, which are currently 5 days in summer and 3 days in winter, generating a turnover in the region of 370,000 per annum, with a gross profit of approximately 60%.

The bar and restaurant is ideal for both locals and holiday makers. The very popular restaurant offers a wide range if locally sourced meats and fish dishes, as well as the finest fresh vegetables and includes traditional pub favourites. Our clients have recently introduced a carvery which is proving extremely popular.

The separate bar area offers a lighter separate menu and traditional pub favourites. The bar boasts leather sofas, four high definition TVs showing both Sky sports and BT sport, a pool table and a dart board. The business also offers regular pub quizzes, jam sessions and a monthly auction.

Our client also caters for large groups for birthdays, weddings, anniversaries and special occasions to suit a variety of budgets, which could be expanded upon. We are advised that the business currently sponsors a local youth football team.

The business has built up an enviable reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

We feel there is scope for a new owner to increase the turnover by embarking on a modest marketing campaign to highlight the food and services offered, perhaps by advertising the venue for special events and parties. This venture would be ideal for a husband and wife team, who have experience within the food industry to expand the restaurant and run it to its full capacity. The business already has a very informative website in place at www.pondbarn.co.uk , which we feel would benefit from online booking facilities for the restaurant.

This is an excellent opportunity for a new owner to take this already busy business to the next level; therefore early viewing must come highly recommended to avoid disappointment.

PREMISES
Substantial premises in a prime trading location, briefly comprising:


Cellar with 9 barrel connection points.

Restaurant:

Accessed by its own entrance at the front of the property.
Reception hallway.
Ladies and gents WCs.

Restaurant area with:

Double height ceilings with open beams.
150 covers.
Separate dance floor.
Bar area.
Carvery

Kitchen with:

6 x burner gas cooker.
Grill.
Extractor fan.
Deep fat fryers.
Microwave ovens.
Sink units.
Hand wash basins.
Several refrigerators and freezers.

L-shaped bar serving both the restaurant and bar areas.

Main bar:

Accessed by its own entrance at side of property.
Entrance hall.
Ladies and gents WCs.
Low level seating area with 3 x leather sofas.
3 x wall mounted plasma TVs.
3 x gaming machines and quiz machine (rented).

External:

Large car park.
Unique garden terraces and pond.
Well.
Outside buildings for storage.

TENURE
We are advised Leasehold:

We are advised that our client is currently in negotiation to agree a 20-year lease as of January 2017
Rent: 1,358 per calendar month

HOURS
The business is open:

Monday - Thursday: 11.00am - 11.00pm
Friday - Saturday: 11.00am - 12.00am
Sunday: 11.00am - 11.00pm

STAFF
The business is owner run and managed with staff members.

FINANCIAL PROFILE
The business generates a turnover in the region of 370,000 per annum, with a gross profit of approximately 60%.


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