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Commercial Property for sale

Esplanade, Shanklin

Withdrawn from Market £1,200,000

Property Description

Full description

Tenure: Freehold

Situated on the seafront looking out over Shanklin´s award winning beach and enjoying panoramic sea views is this bar, brasserie and guest house.
Shanklin is located to the Eastern side of the Isle of Wight and has a population circa 9,000 (census 2011). The town itself offers shopping, doctors surgeries, churches and is on a main bus route with easy links to Sandown, Ryde, Ventnor and Newport.

Currently run by the owner, with full time and part time staff according to season, the Waterfront trades all year and is open all day (licensed until 3 am). During the peak season food is offered all day while lunch and dinner service is
provided during the rest of the year.

There are 80 inside covers in the bar and dining room while the extensive sun terraces can seat approximately 120, 30 of these covers being under the canopy and can be enclosed. All external areas are heated and well lit.

There are also 8 guest rooms several of which enjoy extensive sea views and all have en suite facilities.

An excellent opportunity to purchase a good all round business with scope to extend the trade.

This attractive character property dates back to the early 19th century and was visited by Charles Darwin in 1858. At this time the property was known as Norfolk House.

Accommodation comprises:
Entrance from the sea front via steps through the sun terrace, glazed doors to the bar. Wood fronted bar, range of soft seating and tables and chairs (34 covers) door to dining room with seating for 26.

Ladies and Gents WC´s.

Kitchen with range of commercial equipment. A full inventory will be provided.

Owners´s accommodation with one bedroom (en suite), sitting room, office and conservatory.

Beer cellar.

There are eight first floor letting rooms, seven doubles and a twin, all en suite with either showers or baths with showers over. The front three rooms have panoramic sea views with a further room also enjoying sea views. All rooms have flat screen TV´s and hospitality trays.

To the rear of the property there is a private parking area used by the owners and their staff (parking for five cars) and a storage and utility area and staff facilities. Access to beer cellar.

The business has very high turnover (approaching £1,000,000) and net profit and turnover has steadily increased year on year.

Further trading details will be made available to bona fide applicants.

Please visit our clients own web site for further details

Our client is asking for Offers in the Region of £1,200,000 for the property, fixtures, fittings goodwill + Stock at Valuation or our client will consider selling the business at £275,000 with an annual rental of £55,000 or a business purchase of £175,000 and an annual rental of £75,000.

The VOA shows the rateable value as being £56,000. Rates payable using the current UBR are approximately £27,000 per annum.

All viewings to be arranged via HRD Commercial, please contact 01983 527727.

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