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Chip Shop Restaurant/Take Away, The Food Vault, 12 Queen Street, Lossiemouth, IV31 6NU

Leasehold
£30,000

Business rates & charges may apply

ASG Commercial, Inverness
SECTOR
Restaurant for sale

Property description

* Modern and beautifully appointed fish and chip restaurant and takeaway located in Lossiemouth on the stunning Moray coast.

* Situated in a mixed residential and trading area within a few minutes' walk of the East beach and newly transformed harbour area.

* Completely renovated business with exceptional quality of finish and fully equipped trading areas extending to around 213m2.

* Easy-to-operate licensed business model, with up to 70 covers for restaurant dining and a separate take-away trading point.

DESCRIPTION
The Food Vault is a high-quality fish and chip restaurant located within the Moray coastal village of Lossiemouth, which is a popular destination location for tourists and visitors. The owners / landlords completely renovated the property and now present a 70-seater licensed restaurant plus a takeaway fish and chip shop. In total, the customer and service areas extend to about 213m2. The facilities within the restaurant are of a high-standard offering an attractive and spacious bar. The restrooms are all presented to a high standard with ladies, gents and separate disabled access. The service areas are spacious and offer a high quality of fittings and equipment from which to produce a high-volume and quality product. There is ample storage areas and preparation rooms plus a separate pot-wash / utility room. This bespoke designed operation provides new equipment with multiple fryers and all the necessary appliances to make this a walk-in operation for a new operator. The Food Vault is an ideal proposition for someone with experience in the food and drinks industry who is looking to take on a new venture as an owner operator.

TRADE
The business was only completed in Apr 21 and as such has had a sporadic operation to date. However, indications are that the business traded to a sound level until the owner decided to focus on other business activities and therefore lease the business. Income would be generated from the potential 70 diners and the takeaway which has a separate entrance. The attention to detail in all aspects of this business means that a new owner would have the flexibility to trade in a number of ways. The location would suit a café style operation throughout the day and a restaurant facility in the evening. New owners may wish to trade beyond the traditional fish and chip style of fayre and develop a fuller seafood menu which would undoubtedly prove popular with locals and tourists alike. Likewise, a new owner could establish their own opening regime to either maximise income or provide a lifestyle operation.

LOCATION
The Food Vault is situated centrally to the town of Lossiemouth and with a few minutes' walk of the harbour and the east beach. Lossiemouth is situated on the North East Coast of Scotland on the Moray Firth and is renowned for its mild climate due to the Gulf Stream air. The town is known as 'The Jewel of the Moray Firth' and has a population of around 7,000 which expands greatly during the spring and summer months with the influx of holiday makers. The town is only 5.5 miles from Elgin with a population of circa 24,000. Lossiemouth benefits from 2 excellent golden sand beaches and beautiful surrounding countryside attracting both locals and visitors during the fine weather. The town has a spectacular marina and an excellent array of tourist facilities. Lossiemouth Golf Course is a Championship links course. RAF Lossiemouth is situated adjacent to the town and generates significant income to the local economy. Social amenities and welfare provision within the town are of a high level of provision and full details can be found on

THE PROPERTY
This single storey building is believed to have been built in the 1970s and of cavity block construction. The roof is a mixed style with some elements of pitched roofing under slate tiles and elements of flat roofing. There are 2 principal entry points to the building; one leads via a ramp access to the main restaurant and the other gives access to the take away section. A third access is for fire safety and leads to a side alley.

CUSTOMER AREAS
The restaurant offers street access and provides seating for up to 70 covers. Within the restaurant is a bar servery with an EPOS system and excellent chill facilities for bottled and canned beverages. The counter is set to dispense keg beers and has a gantry for spirits. There is also a quality coffee machine. Ladies, gents and disabled bathrooms are located to the rear. A takeaway counter is sensibly set away from the restaurant area

SERVICE AREAS
There is a large commercial kitchen located immediately to the rear of the main restaurant facilitating ease of customer service. To the rear of the kitchen is a food service area with a cooker / hob, microwaves etc. plus full extraction units. To the front aspects there is a multi-fryer unit and servery counter. This exceptionally well fitted out workspace comes complete with top quality facilities, utensils, refrigeration units and food preparation aids. It has hard flooring and meets the highest standards both in facilities, cleanliness and equipment quality. Off the kitchen are excellent food preparation and storage areas, including a dry goods store, ample fridges and freezers, plus a specific room for the preparation of fresh potato chips with a potato rumbler and mechanical chipper. This facility benefits from electric power and water. A further area presents a pot-wash and general utility area. There is an office / further stock room.

OWNERS' ACCOMMODATION
There is no owners' accommodation with this property.

SERVICES
The subjects benefit from mains electricity, gas, water and drainage. The business is fully compliant with fire and environmental requirements. There is a modern and highly effective extraction system in place.

LEASE HEADS OF TERMS
Capital Premium: £30,000
Rent: £20,000 p.a. rent (Year 1)
£25,000 p.a. rent (Thereafter)
Rent Payments: Quarterly in advance
Rent Reviews: Every Five years in line with RPI
Lease Duration: 10 Years
Lease Type: Full Repairing and Insuring; lessee bears the cost of Insurance
Key Entry Details: Condition survey to be carried out (by mutual Agreement and shared costs)
Equipment: The Fixtures and fittings, according to inventory, are included in the lease but will not transfer to the tenant
Stock at cost: No stock
Entry Date: As Agreed

Full Lease to be presented within 30 Days of Draft offer

Brochures

Chip Shop Restaurant/Take Away, The Food Vault, 12 Queen Street, Lossiemouth, IV31 6NU

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Elgin Station5.6 miles

About ASG Commercial, Inverness

17 Kenneth Street Inverness IV3 5NR

SG Commercial is widely regarded as the market leader in the Highlands of Scotland for Commercial Estate Agency. Our passion for maintaining the highest standards of quality and integrity in our day-to-day activities, plus our reputation for determined professionalism in all that we do, enables us to build up a relationship based on trust with our clients and to gain the respect of allied professions within our industry.

As a fully established Commercial Estate Agency we bring together

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Disclaimer - Property reference TheFoodVault. 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 ASG Commercial, Inverness. 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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