Leisure Facility for sale

Claremont Road, Lowestoft, Suffolk, NR33

Offers in Region of £2,500,000
150–3,000 sq. ft.

Property Description

Commercial information

  • 150 sq ft (13 sq m)
  • Use class orders: A1 Shops, A3 Restaurants and Cafes, A4 Drinking Establishments, A5 Hot Food Take away and D2 Assembly and Leisure

Key features

  • Premium Leisure investment producing £130,000pa rent
  • Established business,
  • Profitable with growth potential, or could let for further £110,000pa
  • Well maintained
  • Potential rental income of £240,000pa

Full description

LOCATION

Lowestoft is 110 miles north-east of London, 38 miles north-east of Ipswich and 22 miles south-east of Norwich. It is situated on the edge of The Broads system being just 15 miles from the ever popular Suffolk Heritiage Coastal area of Southwold.
The town has a resident population of almost 70,000 and approximately 190,000 within 12 miles of the Centre, with the retail population substantially increased by the annual influx of tourists.
The Pier is located between Lowestoft's beautiful award winning South Beach with golden sands and stunning views across the Suffolk Coast Line making this area popular with the community and tourists alike. The beach has recently had £3.5m spent on a coastal protection scheme to enhance and secure the long term viability of this wonderful beach.

DESCRIPTION

The original Claremont was built of wooden piles of pitch pine. They lasted a number of years, but when the T-head of the pier was extended in 1912 the piles were replaced with greenheart timber.
The Claremont Pier was built in 1903, and has been owned by the current family for 35 year. Paddle steamers used to berth at the pier three times a week, the return fare from Yarmouth being 9d.
This attractive Pier has now been extensively refurbished and modernized and offers a vibrant and exciting venue for 6 unique leisure operations within the building itself, and an additional 2 kiosks directly outside at the front of the Pier.

THE BUSINESS

Claremont Pier is a hive of activity and entertainment offering traditional fruit machines, video games, roller skating, fantastic live music, party venues, great fish and chips and a fabulous brasserie with superb sea views. The individual attractions include;

Rollers - Premiere Roller Skating Venue
This fantastic roller skating venue is complete with full disco lighting, mirror balls and a smoke machine. Rollers caters for children's parties, corporate team building events, school parties, themed party nights, Friday and Saturday Disco nights and a Saturday morning members club for kids aged between 7 and 14.

Rocksalt Brasserie
Rocksalt offers a selection of great seasonal food with European, American and Asian influences cooked in the open plan kitchen. Arranged over split levels, contemporary decor with fantastic sea views.

Fun Palace - Family Amusements and Casino
The arcade has a range of machines featuring the latest video games, ticket redemption, 2p pusher machines and a variety of fruit machines. There is also an adult gaming area for over 18's with Jackpot machines.

Scott's Restaurant
This modern restaurant enjoys unrivaled views overlooking the award winning South Lowestoft beach. Open both at lunchtime and evening.

The Aquarium
The Aquarium is one of Suffolk's finest live music venues, and the only one in the UK located on a pier.
There is often a full programme of great live music throughout the year featuring DJ's, bands, tribute acts and dance parties.  The Aquarium can hold up to 850 people (250 seated) making it one of the best venues for hire on the East Coast

The Zoo
The Zoo has recently undergone complete refurbishment with a stunning interior fit that can accommodate up to 260 people. Licensed until 2am with full DJ facilities, quiet areas with intimate seating booths, state of the art lighting, plasma screens, air conditioning and a fully stocked bar.

LICENCE
The property has a Premises Licence granted by the relevant local authority. It is a requirement of the Licencing Act 2003 that properties retailing alcohol have a designated premises supervisor who must be the holder of a Personal Licence. Prospective purchasers are advised to take the appropriate specialist advice.

FIRE RISK ASSESSMENT
We have assumed that a suitable and sufficient Fire Risk Assessment has been carried out. Under the Regulatory Reform (Fire Safety) Order 2005 this assessment needs to be recorded in writing where there are five or more employees, the property is under enactment of a licence or where an alteration notice has been served.

SERVICES
Mains water, electricity, gas and drainage are available. None of the services, including heating, plumbing or electrical systems (nor appliances) have been tested by the Selling Agents.

LOCAL AUTHORITY
Waveney District Council, Marina, Lowestoft, NR32 1HH Tel 01502 562111
Rateable Value - £65,000 (rates payable £3,000 pcm)

OPPORTUNITY
This represents a unique opportunity to acquire an extremely well maintained leisure investment on the popular South Beach of Lowestoft.
Currently the arcade (£65,000pa) Scott's Restaurant (£30,000pa) Rocksalt (£20,000pa) and Kiosk 1 (£15,000pa) produce a total rental income of £130,000pa.
There is an opportunity to further enhance the turnover and profitability of remaining business, which have a rental value in excess of £110,000pa. Should the owner wish to pass them on to a tenant.


FUTURE
It is hoped a new owner will extend the existing structure to its original 600 ft length, complete with a T-shaped pier head to allows boats to dock. Plans were put forward a few years ago to run a ferry service to the pier at Southwold, the favoured Suffolk bolt hole of the chattering classes.
There is also the addition benefit of Lowestoft becoming a more influential renewable energy hub with the prospect of a joint venture with an energy company to open a visitor's centre at the end of any newly extended Pier.

EPC
EPC Energy Performance Certificate available on request.


TRADING INFORMATION
Sales for the year end 31st March 2016 showed a turnover which has seen a year on year increase of 19% with a potential for strong and improving net profit. Detailed accounts will be made available once a formal viewing has taken place.

STAFF
The business is operated by 4 full time members of staff and seasonal part time staff numbering 20 at peak periods, with the owners overseeing operations.

PRICE
Offers are invited in the region of £2,500,000 for the freehold and business interest (All fixtures and fittings are included, however the stock is excluded and will be valued at the time of sale). The current rental income is £130,000pa, with further interest from additional tenants taking the income to £240,000pa.



LEGAL COSTS
Both parties are to pay their own legal costs incurred in this transaction.







More information from this agent

Nearest stations

  • Lowestoft (0.6 mi)
  • Oulton Broad North (1.4 mi)
  • Oulton Broad South (1.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Fennel Chartered Surveyors, Halesworth

6 Market Place, Halesworth, IP19 8BA

01986 485001 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.

Floorplans


To view this property or request more details, contact:

Fennel Chartered Surveyors, Halesworth

6 Market Place, Halesworth, IP19 8BA

01986 485001 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

  • Lowestoft (0.6 mi)
  • Oulton Broad North (1.4 mi)
  • Oulton Broad South (1.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Fennel Chartered Surveyors, Halesworth

6 Market Place, Halesworth, IP19 8BA

01986 485001 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.

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