- Trading for approximately 6 years
- Prominent location on the parade, good passing trade
- Premium payment of £120,000 plus VAT
- 1 allocated parking space to the rear
The property comprises a prominent mid-terrace ground floor restaurant which is currently trading as Byblos Bay established for approximately 6 years and is fully fitted to a high standard with seating capacity of up to 40 covers internally and a further 12 external covers to the front, benefitting from W/C facilities, rear access and 1 allocated parking space. We understand that the pre-Covid turnover was approximately £8-£10,000 per week. Current trading hours:- Sunday and Monday - Closed Tuesday through to and including Friday - 12 Noon - 10pm Saturday - 3pm -3am
The property is prominently located in a busy trading location on The Parade, which is an extension of the High Street, a pedestrianised area in the Town Centre. Within the same parade and close proximity there is a mixture of established local and national traders where behind The Parade there is a Sainsbury Supermarket with approximately 400 car parking spaces.
A 25 year lease which we understand commenced in 2007, where our clients took assignment in 2016.
Therefore approximately 10 years remaining.
£40,000 per annum exclusive
By way of separate negotiation, the current tenant is seeking a premium in the order of £120,000 plus VAT for the goodwill, stock and fixtures and fittings (Clarification upon request).
Each party to be responsible for their own legal costs.
We understand the current service charge is £750 per annum
1 allocated car parking space to the rear
By appointment only please through joint agents:- Perry Holt and Warren Anthony
We understand that VAT is payable on the rent