Description
BUSINESS FOR SALE
Long established ground floor lock up fish & chip shop business, with separate 3 bedroom maisonette above.
The fish & chip shop has an open plan trading area with a serving counter and waiting area for orders. There is a good range of fitted equipment, which is included within the sale. To the rear there is a utility/wash room, office, staff wc and good size room used for storage and preparing chips. Door to rear garden, which has side pedestrian access, useful for deliveries.
The asking price is £165,000, for the goodwill, fixtures & fittings and benefit of the lease
Bullets Points 1
Ground floor lock up fish & chip shop
Separate 3 bedroom maisonette above
Good main road position in a parade of shops
Fully equipped to continue trading
Long established business
Strong turnover and profits
Location
Kennington is a suburb of Ashford, the fastest growing town in Kent, and one of the fastest growing in the UK. It is about a mile northeast of Ashford town centre and north of the M20 motorway, which gives great links to the Kent coast and to London as well as connecting directly to the M25. The main A28 Canterbury Road and A2042 Faversham Road run through Kennington, and the A251 Trinity Road skirts the western edge. In recent years Kennington has expanded with the building of new housing estates in Little Burton, Trinity Road, Conningbrook Lakes, with ongoing plans to expand further in Conningbrook Park and Eureka Park.
Accommodation
Included within the leasehold demise is a 3 bedroom maisonette above the shop, not inspected, which is currently let to a family member at £1050 per month, with a true market rent probably closer to around £1300/£1400.
The Floor Areas taken from the Valuation Office Agency website are as follows:
EPC
Awaited
Terms
The property is let on 20 year lease commencing on 11 February 2008, with a current rent passing of £25,000 per annum. We are informed that the landlord is open to discussions about either extending the current lease or granting a new lease, with terms to be negotiated.
The asking price for the business is £165,000, for the goodwill, fixtures & fittings and benefit of the lease.
Rent/Price
Passing Rent is £25,000 Per Annum Exclusive
The asking price for the business is £165,000, for the goodwill, fixtures & fittings and benefit of the lease.
Legal Costs
Each side to bear its own legal and professional costs
Rateable Value / Council Tax
The rateable value effective from 1 April 2023 is £7,200. This not what you will pay, but is used to calculate what you may pay. The property may be eligible for small business rates relief, please enquire with local borough council for further information. The residential accommodation does not appear to be rated for council tax, but please enquire with the local authority for further information.
VAT
Unless otherwise stated, all rents/prices are quoted exclusive of Value Added Tax (VAT) which will be charged at the prevailing rate. Prospective occupiers should satisfy themselves as to any VAT payable in respect of any transaction.
Viewing
Strictly by prior appointment through the Surveyors. Please contact Andrew Moore e: andrew. or Thomas Langston e: thomas.
Tenure Comments
20 year lease commencing 11 February 2008, with a current rent of £25,000 p.a.
