Connaught Avenue, Frinton-On-Sea

** GUIDE PRICE £550,000 - £600,000 ** Located on the prestigious Connaught Avenue in the bustling seaside town of Frinton-on-Sea, a unique opportunity to acquire a turnkey restaurant and takeaway business, being sold fully furnished and equipped with high spec commercial kitchen. The property comprises a Freehold part which includes the restaurant and a split level apartment over. The takeaway side is held on the balance of a 25 year lease available for an additional £120,000 (this can excluded if not required by the purchaser).

Business - An established business located in a prime Frinton-on-Sea position trading as a restaurant including a separate takeaway fish & chip shop next door. In recent years the premises have been fully refurbished and is sold fully equipped including all furniture and kitchen equipment. The property would make an ideal lifestyle business with living accommodation above with scope to extend current opening hours and expand the menu offering in this thriving coastal town. There are two employed staff at present. The sale includes a freehold three storey property comprising restaurant and apartment over and the option to acquire the balance of a 25 year lease on the adjacent premises which is also fully kitted out and currently used for the takeaway element (Additional £120,000 premium).

Location - Located in a prominent position along Frinton-on-Sea's main shopping street, Connaught Avenue which offers a vast array of shops, eateries, independent retailers & boutiques and the seafront is located at the end of the road. Frinton-on-Sea is a charming coastal town in the Tendring District with a population of approximately 5,000 attracting lots of additional visitors particularly in the summer season.

Schedule Of Accommodation - 35 Ground Floor Restaurant (Freehold) - 1416 Sq Ft
35 First Floor Living Accommodation (Freehold) - 889 Sq Ft
35 Second Floor Living Accommodation (Freehold) - 469 Sq Ft
37 Ground Floor Takeaway (Leasehold) - 821 Sq Ft

Total Freehold - 2774 Sq Ft

Total Leasehold- 821 Sq Ft

Total - 3595 Sq Ft

35 Connaught Avenue -

Ground Floor - Restaurant with bar area and approximately 40 covers, fully equipped commercial kitchen with walk-in fridge and prep area to rear, disabled WC and two further customer WC's.

First & Second Floors - Self contained apartment accessed via two entrances from the rear of the building. In good decorative order comprising; two reception rooms, kitchen, bathroom, shower room and WC to the first floor. The second floor offers two bedrooms and a study.

37 Connaught Avenue - Leasehold available for an additional £120,000 if required - Currently trading as a takeaway fish & chip shop, the property is fully equipped with state of the art commercial fryers. There is a kitchen area to rear plus laundry room and WC.

Equipment - The premises includes all fixtures, fittings, kitchen equipment and furniture making it a turnkey opportunity ready to commence trading immediately. All equipment is owned outright and a complete inventory can be provided upon request.

Tenure - The sale includes;

Number 35 - Freehold property over three floors with ground floor commercial space and split level apartment at first and second floor leve
Number 37 - Leasehold ground floor commercial space

Business Rates - 35 Connaught Avenue - Rateable Value £13,500 - Rates Payable - £6,736.50
37 Connaught Avenue - Rateable Value £9,200 - Rates Payable - £4,590.80

Council Tax - 35 Connaught Avenue - Band C

Services - We understand that mains electricity, gas, water and drainage are all connected.

Lease - Let on the balance of a 25 year lease from 22nd April 2022. Current rent is £14,000 PA, next rent review April 2027 and every five years thereafter. There is a Tenant break option in October 2034. A full copy of the current lease can be provided upon request.

Agents Note Sales - PLEASE NOTE - Although we have not tested any of the Gas/Electrical Fixtures & Fittings, we understand them to be in good working order, however it is up to any interested party to satisfy themselves of their condition before entering into any Legal Contract.

Aml - ANTI-MONEY LAUNDERING REGULATIONS 2017 - In order to comply with regulations, prospective purchasers will be asked to produce photographic identification and proof of residence documentation once entering into negotiations for a property.