Furtherwick Road, Canvey Island, Essex, SS8
£140,000
Guide price
Guide price
DESCRIPTION:
Situated on the busy Furtherwick Road and comprising an elegant 42 cover Portuguese Licenced Restaurant. Only open 5 days a week & closing for the whole of August annually. Flat let with an income of £1,000 per month, but available if required.
Property The Restaurant is regularly shaped and extends to a total, including the kitchen & WC's, of 1,051 sq.ft. The seating area alone is approx. 707 sq.ft. having 42 covers. Elegantly designed & decorated with a feature Bar & air-conditioned. Given the current design/arrangement, this could easily & economically be converted to any form of Restaurant. Rear access for deliveries & with parking for 2 vehicles.
Features Licenced Portuguese Restaurant
Busy Trading Location
Approx, 1,000 Sq.Ft. Overall
42 Covers
2-3 Bedroom Flat Above
Suit Any Cuisine
Upper Parts Self-contained with rear access and comprising a 2-3 bedroom flat let on an AST with an income of £1,000pm.
Turnover The accounts of the business for the year ended 31st October 2023 show sales of £209,571, with an adjusted net profit of £45,271.
Trading Hours The Restaurant is open from Tuesday to Saturday from 5pm till 11pm and closes annually for the whole of August.
Tenure Leasehold. Granted from 11th November 2014 to 10th November 2035 (21 years).
Rent £22,000pa payable monthly at £1,833 per month. VAT is not payable on the rent. With the current rental income from the flat of £1,000 per month, this reduces the net rent payable to only £10,000pa!
Business Rates The most recent rating assessment shows an adopted value of £13,500. Qualifying occupants will be able to obtain Small Business Rates Relief, reducing the liability to Business Rates to £1,200pa.
Legal Fees Each party is to be responsible for their own legal fees.
Situated on the busy Furtherwick Road and comprising an elegant 42 cover Portuguese Licenced Restaurant. Only open 5 days a week & closing for the whole of August annually. Flat let with an income of £1,000 per month, but available if required.
Property The Restaurant is regularly shaped and extends to a total, including the kitchen & WC's, of 1,051 sq.ft. The seating area alone is approx. 707 sq.ft. having 42 covers. Elegantly designed & decorated with a feature Bar & air-conditioned. Given the current design/arrangement, this could easily & economically be converted to any form of Restaurant. Rear access for deliveries & with parking for 2 vehicles.
Features Licenced Portuguese Restaurant
Busy Trading Location
Approx, 1,000 Sq.Ft. Overall
42 Covers
2-3 Bedroom Flat Above
Suit Any Cuisine
Upper Parts Self-contained with rear access and comprising a 2-3 bedroom flat let on an AST with an income of £1,000pm.
Turnover The accounts of the business for the year ended 31st October 2023 show sales of £209,571, with an adjusted net profit of £45,271.
Trading Hours The Restaurant is open from Tuesday to Saturday from 5pm till 11pm and closes annually for the whole of August.
Tenure Leasehold. Granted from 11th November 2014 to 10th November 2035 (21 years).
Rent £22,000pa payable monthly at £1,833 per month. VAT is not payable on the rent. With the current rental income from the flat of £1,000 per month, this reduces the net rent payable to only £10,000pa!
Business Rates The most recent rating assessment shows an adopted value of £13,500. Qualifying occupants will be able to obtain Small Business Rates Relief, reducing the liability to Business Rates to £1,200pa.
Legal Fees Each party is to be responsible for their own legal fees.
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