21 Market Hill, Woodbridge, Suffolk, IP12

LOCATION
The premises are situated in a highly prominent position on the Market Hill, where a mix of  shops and restaurants surround the 17th Century Shire Hall.  Nearby is The Thoroughfare, also with a variety of shops, restaurants and cafes.  The local train station, swimming pool and sport hall, the beautiful tidal River Deben, Bass's Dock and the Tide Mill marina are all close by within easy walking distance.  Woodbridge also offers a good choice of schooling in both the state and private sectors.
The popular Heritage Coastline destinations of Orford and Aldeburgh are approximately 10 miles and 15 miles respectively. The County Town of Ipswich is approximately 10 miles to the south-west, which has a population of approximately 150,000.

DESCRIPTION
Arguably located in the most attractive part of the town, The Galley has been a centre of Woodbridge life for many years.
The entrance leads into the bar and open restaurant area overlooking the market place through a large bow window.
Ground 91.87sqm (989sqft)
First 88.80sqm (956sqft)
Basement 33.00sqm (355sqft)
TOTAL 213.67sqm (2,300sqft)
Other occupiers within Market Hill include Moose, Woodbridge Violins, Homespun, Strawberry Café, The Kings Head, Hair @ Rackhams, Chenevix Trench jewellers, Fanny & Frank, Darcy B and two local estate agents.
 
The Restaurant:
The restaurant is arranged over 3 floors with a variety of open, secluded and private dining options to suit the time of day and number of diners.
There is a capacity for 120 covers, with additional outside space at the front of the building along with an agreement in the summer to use the public space on the Market Place.
Private dining is available in the cellar, and also on the first floor in a secluded spacious room with a timbered ceiling. These areas offer a wonderfully personal and individual dining experience.
There is scope to expand the business and open more than the current 2 days that the owners have currently choose to do.

TRADING HOURS
Friday 6.00pm-8.00pm
Saturday 12.00pm- 8.00pm 


NOTE: The building is GRADE II LISTED

LICENCE
The property has a Premises Licence granted by the relevant local authority. It is a requirement of the Licencing Act 2003 that properties retailing alcohol have a designated premises supervisor who must be the holder of a Personal Licence. Prospective purchasers are advised to take the appropriate specialist advice.

FIRE RISK ASSESSMENT
We have assumed that a suitable and sufficient Fire Risk Assessment has been carried out. Under the Regulatory Reform (Fire Safety) Order 2005 this assessment needs to be recorded in writing where there are five or more employees, the property is under enactment of a licence or where an alteration notice has been served.

SERVICES
Mains water, electricity, gas and drainage are available. None of the services, including heating, plumbing or electrical systems (nor appliances) have been tested by the Letting Agents.

LOCAL AUTHORITY
East Suffolk Council, Marina, Lowestoft, NR32 1HH
Tel
Rateable Value - £25,500

EPC
EPC Energy Performance Certificate is Band B (48)

BUSINESS
This well presented and popular restaurant was established 30 years ago and during that time has accrued a vast amount of glowing awards and justified reviews.
As The Galley is currently open for just 2 days a week, there is tremendous scope to increase the turnover and profitability with a new enthusiastic foodie entrepreneur by operating more hours during the day and evening.

TRADING INFORMATION
Sales for the year end 31st August 2023 showed a turnover of £214,000 (exc. VAT)
More detailed accounts will be made available once a formal viewing has taken place.


PRICE
Offers of £80,000 are invited for the lease and business. (All fixtures and fittings are included, however the stock is excluded and will be valued at the time of sale)
A new lease for the business will be offered at a minimum term of 10 years, with rent reviews every 5 years, starting at a rent of £40,000pa.

LEGAL COSTS
Both parties are to pay their own legal costs incurred in this transaction.

STAFF
The business is operated by approximately 6 staff, with the husband and wife couple overseeing operations.