Restaurants for sale in Ryde

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Mr & Mrs Campbell (Jan 2015)
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Leasehold Price: £49,950
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Business Description
• 150 cover restaurant/bar with 5 star hygiene rating
• On a substantial plot with external seating and large car-park offering further potential
• 3 unexploited letting rooms plus owner's suite
• For Sale at OIR £49,950 for the leasehold, FF, GW + SAV

LOCATION
The Fleming Arms is a highly popular venue situated on Binstead Road, the main arterial road between the Island's two most significant towns of Ryde and Newport.

Located only a few minutes drive from Ryde Centre, The Fleming Arms sits amongst the residents of Ryde and its environs and, whilst it is within walking distance for many living on the adjoining estates, this venue is also extremely well placed to capture the significant passing trade of potential customers travelling from Ryde in the direction of Newport.

A large car-park and the capacity of the restaurant/bar are also a strong draw for the many coaches using this route during the now extending summer season. Ryde itself has an immediate population of around 25,000, considerably boosted by the influx of summer tourists as well as day-trippers via fast passenger catamaran and Hovercraft links from Portsmouth and Southsea.

DESCRIPTION
Customers can access The Fleming Arms either through the front entrance lobby off the pavement or from the rear via the car-park. The restaurant and bar underwent significant capital expenditure in 2005 and as a consequence of fire damage in March 2014 significant re-investment has taken place.

Whilst the public areas are open plan, there are easily defined areas including the bar area to the front with pool table, a large central bar/dining area with family dining, bar/conservatory, function room/dining room and a most attractive half-hexagonal dining area with flagstone floor. A function room/dining room has double glazed panel doors out to the gardens.

As currently laid out, existing eating capacities are as follows:-

- Main Bar/Restaurant: 80 covers plus bar seating
- Non Smoking Dining Room/Function Room: 22 covers
- Half-Hexagonal Dining Area: 16 covers.

These areas are served by spacious ladies and gents WC facilities and a separate disabled cloakroom/WC. The commercial kitchens are extensively fitted with an inventory of trade equipment included in this sale, including a walk-in fridge located in the main kitchen with a separate walk-in freezer in the rear store. A dry store, spirits store and cellar, complete the ground floor commercial accommodation.

OUTSIDE
A significant feature is the rear of the premises, currently laid to cater for a further 58 drinkers/diners able to enjoy pretty gardens under parasols or pergola during clement weather. To the front of The Fleming Arms there are a further 12 covers on hard-standing with wide side access leading to a car-park able to accommodate in excess of 40 vehicles and a petanque terrain.

OWNER'S/LETTING ACCOMMODATION
Able to be separately accessed via the service/delivery entrance to the commercial kitchens, the new owners of this business will have the opportunity to enjoy either 4-bedroom accommodation or alternatively, let 3 of the bedrooms, all with en-suite shower facility, retaining 1 double bedroom, lounge/dining room, playroom, domestic kitchen, family bathroom and office.

THE BUSINESS
It is with considerable regret that our clients are selling this business due to ill-health. More detailed financial information can be made available to bona fide applicants after inspection.

PREMISES LICENCE:
IW009883 allows for the provision of alcohol from 05:00 – 00:00.

THE LEASE
A 21 year term provided by Enterprise Inns PLC from 12th May 2005 with current passing rent at £36,000 per annum. Exclusive rent increased annually at the rate of RPI, subject to open market rent reviews at 5 yearly intervals. The tenant is obliged to put and keep the whole of the premises in good repair. There is no trade tie on wines or spirits. The tenants to enjoy the security of tenure provisions provided by The Landlord & Tenant Act 1954.

UNIFORM BUSINESS RATE

Rateable Value - £27,000
(201512016) 49.3p without small business relief.

It should be noted that the rate liability may be affected by the Government's transitional arrangements. Interested parties should make their own enquiries to confirm any rate liability.

It should be noted that the rate liability may be affected by the Government's transitional arrangements. Interested parties should make their own enquiries to confirm any rate liability.

PRICE
For Sale at "offers in the region of” £49,950 for the benefit of the trade fixtures, fittings and goodwill of the business plus stock, glassware and loose catering effects at valuation on completion.

INVENTORY
An indicative inventory is available.

EPC
Awaiting EPC rating.

VIEWING
Strictly by appointment via Grant Higgs of Gully Howard Technical Property Services. Please call 01983 640000 or email Grant.Higgs@ghtechnical.com.

Under no circumstances should any direct approach be made as staff will be unable to assist you.
Tenure: Leasehold

Location Details:

The Fleming Arms is a highly popular venue situated on Binstead Road, the main arterial road between the Island's two most significant towns of Ryde and Newport.

Located only a few minutes drive from Ryde centre, The Fleming Arms sits amongst the residents of Ryde and its environs and, whilst it is within walking distance for many living on the adjoining estates, this venue is also extremely well placed to capture the significant passing trade of potential customers travelling from Ryde in the direction of Newport.

A large car-park and the capacity of the restaurant/bar are also a strong draw for the many coaches using this route during the now extending summer season. Ryde itself has an immediate population of around 25,000, considerably boosted by the influx of summer tourists as well as day-trippers via fast passenger catamaran and Hovercraft links from Portsmouth and Southsea.

Leasehold Term:

A 21 year term provided by Enterprise Inns PLC from 12th May 2005 with current passing rent at £36,000 per annum. Exclusive rent increased annually at the rate of RPI, subject to open market rent reviews at 5 yearly intervals. The tenant is obliged to put and keep the whole of the premises in good repair. There is no trade tie on wines or spirits. The tenants to enjoy the security of tenure provisions provided by The Landlord & Tenant Act 1954.

Downloadable Documents

Listed by: Gully Howard Technical Ltd
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