Berry's Restaurant is set in a prominent position on Gorleston's popular High Street. A thriving town centre with terrific customer footfall, the cinema and numerous businesses including a newly developed Wetherspoons are located close by. This has given Gorleston a new lease of life of which the local businesses are all benefiting from.
The property comprises the ground floor of the building with pedestrian access and display windows to the High Street. Inside there is a restaurant on two levels providing up to 40 covers, fitted with tables and chairs. Double windows open to a rear courtyard where external seating could be provided. Toilets are positioned to the rear of the restaurant. A servery leads to the kitchen fitted in a galley style with many new appliances including ovens, deep fat fryers, etc. We are informed that the kitchen equipment recently fitted cost approximately £16,000 to install. Rear access out to a preparation room and further storage areas and rear access for deliveries via Blackwall Reach.
The Valuation Office confirm that the ground floor provides a total floor area of 139.25 sq m (1,500 sq ft).
A premium of £29,950 is sought for the business goodwill, fixtures and fittings and remaining lease.
The ground floor restaurant has a rateable value of £7,900; therefore there will be 100% rates relief for qualifying businesses.
VAT will not be payable on this transaction.
The business has been established for a good number of years and is being sold reluctantly by the current owners who wish to retire. We have been furnished with accounts which are available for inspection. The existing lease expires on 10 October 2025 and there is a rent review due in 2019 and the current passing rent is £15,500 pa.
The business currently operates lunchtimes only, 11:00 to 14:00, and Sundays, 11:00 to 15:00. The restaurant has previously opened in the evenings as well, however, the owners operate hours to suit their near to retirement status. There is great potential to extend the opening hours and operate in the evenings, the High Street now having a lively evening scene.
Strictly by appointment with the commercial agents, BYCROFT COMMERCIAL, tel: 01493 844489.