Restaurant for sale

SUFFOLK

Sold STC £67,500

Property Description

Full description

Tenure: Leasehold

REF: 7767 LEASEHOLD

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

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

LOCATION

This attractive and eye catching Bistro is well positioned in the bustling shopping centre of the famous and vibrant town of Newmarket, Suffolk just off the A14 between Bury St. Edmunds and Cambridge. Newmarket is a modern up and coming large market town with a population of over 80,000 and has an array of shops, cafes, leisure centre, schools and places of interest etc. There are also many local businesses and a main line railway station and bus terminal. Newmarket is world famous for horse racing and is considered the birthplace and global centre of thoroughbred horse racing with over 50 horse training stables and two large race tracks, it is one of the most extensive and prestigious training and racing venues in the world. Newmarket is a popular and busy place all year round but during the racing season it is a very vibrant and exciting place to be with many thousands of people visiting the race tracks each year. The old market town of Bury St. Edmunds, with its many shops, cafes, historic buildings and gardens is only 15 miles away and the large university town of Cambridge is only 13 miles away.

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 & LICENSING

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.

VIEWING: All appointments must be made through Guy Simmonds. Please note that these Sales Particulars are issued on the strict basis that all negotiations, viewings and contacts in connection with this business are conducted through Guy Simmonds who are appointed by the vendor to act under a Sole Selling Rights agreement with total confidentiality. Any breach of these terms may make you liable in law to litigation and damages. Under no circumstances must you approach the owner direct without a formal appointment or disclose to other customers and staff that the Premises are for sale.

FINANCE FOR PURCHASING A LICENSED PROPERTY: We are in constant touch with a leading finance broker who specialises in arranging Business Finance for Licensed Properties. Whether you are purchasing a Licensed Property through ourselves, or another agent, we will be pleased to contact on your behalf our specialist who can arrange the necessary Finance Package for you at preferential rates. Please telephone for free and no obligation advice with regards to financing a Business.

Guy Simmonds for themselves and for the vendors or lessors of this property and/or business whose agents they are give notice that:-
(I) These particulars are a general outline for the guidance of intending purchasers (or lessees) and do not constitute an offer or contract, nor any part of an offer or contract.
(II) All descriptions, dimensions, distances, maps/plans, references to condition, trading figures and other items in these particulars are given as a guide and no responsibility is assumed by Guy Simmonds for the accuracy of individual items. Intending purchasers (or lessees) should not rely on them as statements of representations of fact and should satisfy themselves as to the correctness of each item by making independent enquiries.
(III) Intending purchasers (or lessees) should make their own independent enquiries regarding the use of the property, necessary permissions for use and occupations, potential uses and any other matters affecting the property prior to purchase.
(IV) Guy Simmonds do not make or give whether in these particulars, during negotiations or otherwise, any representation or warranty in relation to this property. No responsibility is taken by Guy Simmonds for any error, omission or mis-statement in these particulars. Guy Simmonds do not warrant the accuracy of any accountancy information supplied and purchasers are advised to take independent advice in order to satisfy themselves.
(V) Guy Simmonds are unable to give any warranty as to the working order of any apparatus, equipment, fittings or services associated with the premises and therefore, cannot verify they are in full working order. Purchasers are strongly advised to obtain specialist reports prior to exchange of contracts in order to satisfy themselves.
(VI) All statements and descriptions are made without responsibility or warranty by Guy Simmonds, the vendors or lessees. Neither do Guy Simmonds nor the vendors/lessees hold ourselves responsible for any expenses whatsoever incurred by applicants inspecting Businesses which may be sold or withdrawn, to include travelling, valuation/survey, legal fees etc.
(VII) No person in the employment of Guy Simmonds has any authority to make or give any representation or warranty whatever in relation to this property.
(VIII) It should not be assumed that the contents of any photographs are included in the sale.
(IX) All prices quoted are excluding stock at valuation.

Energy Performance Certificates (EPCs)

Nearest stations

  • Newmarket (0.5 mi)
  • Dullingham (3.4 mi)
  • Kennett (4.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds, National Licensed Property Agents

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448091 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Newmarket (0.5 mi)
  • Dullingham (3.4 mi)
  • Kennett (4.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds, National Licensed Property Agents

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448091 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 7767F. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Guy Simmonds, National Licensed Property Agents. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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