Opportunity to acquire this well known restaurant situated in an excellent trading position in the heart of Bembridge.
Bembridge is a village situated on the eastern most point of the Isle of Wight and has a population of around 3600. This bustling village benefits from a variety of convenience stores and boutique shops and is home to various tourist attractions including the National Trust owned Windmill.
Fox’s Restaurant has been successfully run by the present owners for the past 16 years and has in fact only changed hands once in the last 35 years which is a tribute to the success of the business.
Glazed bay frontage from the High Street leading to the restaurant with seating for 40 covers. Dispensing bar with shelving and fridge. Ladies and Gents WC. Storage cupboard. Door to garden and seating for a further 20 covers.
Kitchen with pantry/washing up area and preparation and cooking area.
The kitchen is fitted with a range of commercial catering equipment suitable for the needs of the current trading position of the restaurant. A full inventory will be provided.
Storage area for fridges and freezers.
Storage cupboard. Door to garden with seating for a further 20 covers.
Private access to first floor flat which makes ideal owner’s or manager’s accommodation.
Please note that although there is a private entrance to the flat this cannot physically be separated from the commercial aspect of the premises and as such would not make the flat suitable for private letting.
The owner’s accommodation consists of a first floor apartment with three double bedrooms, domestic kitchen and open plan lounge and dining room. Family bathroom with bath with shower over, wash hand basin and WC.
The restaurant trades over six days a week (Tuesday to Sunday) and shows a healthy profit. Accounts are available to bona fide applicants after viewing.
The premises have a full licence, seven days a week 11:00 to 01:00.
To the rear of the property the enclosed garden provides outside seating for customers.
There is also an area of private garden with brick built store.
The freehold of the premises also includes that of the Bembridge Barber Shop which has been granted a 125 year lease commencing on 31.10.08.
Our client is asking for £395,000 for the freehold of the premises, fixtures, fittings and goodwill of the business plus stock at valuation on completion.
The rateable value is shown as £5,300, rates payable approximately £2,700.
Council Tax for the owners/managers accommodation is Band B.
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