The property is located in Row 75 off Howard Street South within Great Yarmouth town centre. The immediate surrounding area is commercial in nature with a variety of niche retailers, office premises and residential dwellings.
The current business is conducted within a ground floor restaurant premises. There are potentially 18-20 covers internally and a further 8 covers available in the open air courtyard to the front. The restaurant area is extremely well appointed with tiled floor, part panelled and part open brick walls with bright pictures. It is fully fitted with quality furnishings. There is a kitchen area off the restaurant containing appropriate equipment to operate the establishment. In addition there is a customer toilet located off the courtyard. The south east facing courtyard is gated and secure.
We have measured the property in accordance with Royal Institution of Chartered of Surveyors Code of Measuring Practice and the following approximate net internal floor areas are provided.
Restaurant 24.04 sq m
Kitchen 5.90 sq m
We believe that mains gas, electricity, water and drainage are connected to the property.
The premises are let on the remainder of a 10 year lease which commenced on the 1st January 2012 and expires on 31 December 2022. This lease can be extended for another 10 years if required. The current passing rent is £7,000 pa.
The current Licence is granted by Great Yarmouth Borough Council and confirms opening hours up to 12.30 am with alcohol served until midnight, 7 days a week.
The existing business has been trading since February 2012. Although there has been a restaurant on site since 1995. The business is established and well known in the town centre and is popular with professional business customers and family's alike. The current owners open lunchtimes and a number of evenings. There is great scope to increase income by increasing the opening times.
The business is fully equipped and a full inventory of the equipment and fittings to be included is available upon request. Full accounts are also available upon request.
The benefit of the remaining lease, the current business, goodwill and equipment is offered at a premium of O.I.R.O £35,000.
The property is assessed as Café & Premises with a Rateable Value of £5,600. Qualifying businesses will not pay rates as RV below 100% rates relief threshold.
Strictly by appointment with the selling agents BYCROFT COMMERCIAL. Tel. 01493 844489