Furtherwick Road, Canvey Island, Essex, SS8

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.