This extremely well presented restaurant occupies a prominent position in this bustling cosmopolitan part of Brighton’s famous Kemp town, surrounded by multi occupancy properties, guest houses and hotels the concern is assured of an all year round trade and experiences a healthy increase in turnover during the high summer season. This is an outstanding business which has been in the current vendor’s hands for nearly 18 years and only now comes to the market as the vendor wishes to explore other business opportunities. The vendor has created an excellent reputation for authentic Thai food, with excellent reviews on Trip Advisor and Google Reviews. At present the restaurant is only open for lunch and dinner Wednesday to Sunday.
THE PREMISES: The restaurant is located on a corner plot and has the benefit of large windows throughout the ground floor, which ensures the ground floor is open and airy throughout the year. The restaurant comes to the market in good condition and has a wealth of trade fixtures and fittings. We are assured by the vendor that all items of fixtures & fittings are owned by them, nothing is on hire purchase or lease. The restaurant can cater for 75 covers, with 50 covers upstairs and a further 25 on the lower ground floor. The kitchen is located on the lower ground floor which has fully extraction and is equipped to a high standard. Adjacent to the seating on the lower ground floor is a storeroom which includes a number of chest freezers, fridges and a cold room. The ladies and gentleman’s toilets are also located on the lower ground floor. There is also access to a yard at the rear of the premises which has access to the street, this is ideal for deliveries and rubbish collection.
TURNOVER: We are informed that the business averages some £5,300 per week. The vendor currently works full time in the business, with the assistance of 4 full time and 7 part time members of staff split between front of house and kitchen. Hours of Opening: 12pm to 10:30pm Wednesday – Sunday, there would be enormous scope to extend the opening hours and trade 7 days a week. There are an abundance of local guesthouses and hotels in the area which already frequently recommend the restaurant to their guests, however there would be additional scope to offer breakfast to these guests where this is not offered at their hotels. The restaurant also has the benefit of an alcohol license from 10am – midnight Monday-Saturday and 10am- 11:30pm on Sunday.
TENURE: A new 12 year full repairing and insuring lease will be granted at a commencing rental of £30,000 per annum, with upward only rent reviews to take place every 4 years.
RATES: The rateable value for the property is £11,000 per annum and the current rates payable are £5,401 per annum. Prospective occupiers should make their own enquiries to verify same.
GENERAL REMARKS: Well established and highly rated restaurant. Fantastic area right in the middle of Kemp Town. Surrounded by guest houses and hotels. High footfall all through the year. We earnestly advise immediate inspections to avoid disappointment. A3 Use with alcohol license. The business currently only trades 5 days a week, therefore there would be enormous scope to increase this to 7 days to maximize turnover.
PRICE: We are instructed to quote for the lease, goodwill, equipment, trade fixtures and fittings £99,950 SAV
LEGAL FEES: Each party to be responsible for their own legal costs. The purchaser to pay for the landlord’s legal fees.
VIEWING: On no account should any approach be made to the staff without a prior appointment through the vendor’s sole agents, Watkins Commercial, Telephone: 01273 709090.
|08/08/2019||Brighton, East Sussex|