Business for Sale in Lowestoft, Suffolk - PERRY’S FISH & CHIP RESTAURANT (LEASEHOLD) - LOWESTOFT, SUFFOLK - Leasehold: £39,950

Key Information

Ref
CF33729E000
Type
Food Service Businesses: Fish & Chip Shops
Location
England: Suffolk
Tenure
Leasehold
Status
Sold
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Please fill the form in below to request particualrs via e-mail for Business Ref : CF33729E000

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Call us on 01603 662662
  • Profitable Business

  • Retirement Sale

  • Only Open 11.30 to 2.30, 5 days per week, plus 4.30 to 7.00 on a Friday Evening
  • Huge Potential to Increase Trade via Longer Opening Hours than the Current 17.5 per week, Similar in Town Open up to 54 hours per week

  • Freehold Purchase an Option

  • Large 43 Cover Restaurant but Since Covid-19 Main Trade via the Takeaway Side of the Business

  • T/O Currently Managed within VAT Threshold as a Lifestyle Choice

  • Well Maintained Equipment

  • Excellent Condition Throughout

  • Private Car Parking Space

  • Viewing Highly Recommended

PARTICULARS

This is a successful traditional sit in “plated” fish and chip restaurant, also offering takeaway. Which has found the trading focus since the outbreak of the Coronavirus pandemic has swung in favour of the takeaway trade.

Food is fried by Perry, the owner, supported by 3 part time waitress staff

The restaurant is located just off the vibrant end of Lowestoft High Street, within walking distance of the railway station, seafront and fish docks. It is located in an area of fully occupied independent shops, but also including McDonalds, Weatherspoon’s and HSBC Bank in close proximity.

Parking is available in the immediate area, although the property has private parking space at the rear for the owner.

Fish is cooked to order and it enjoys a reputation for quality meals, as indicated via Trip Advisor ranking/Certificate of Excellence. Also has 5 star hygiene rating from Waveney District Council

The restaurant enjoys a regular clientele, of well-behaved mature adults/families, plus seasonal tourist visitors.

THE BUSINESS ITSELF

Perry has owned the business for the last 14 years, although had a break for 4 years when it was let out.

Perry has been back running since May 2016 & quickly restored it’s former reputation, as evidenced by an increasing trade. Turnover is currently controlled within VAT threshold, to suit Perry’s lifestyle needs as he is ready for retirement.

Current turnover is approx. £1,500/£1,600 per week, although it’s clear from our “out of hours” visits there’s tremendous potential to increase via longer opening hours, hence a visit to the restaurant and surrounding area would be recommended so interested parties can appreciate the opportunity.

(Trading Accounts are available to verified interested parties)

ACCOMMODATION
ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The restaurant occupies the ground floor of a 3 storey freehold terraced property.

Ground floor restaurant area measures approx. 17m deep x 5.4m wide frontage.

Split into, frying area/takeaway at the front measuring approx. 6m x 5.4m wide, linking to

Seating area for tables and the 43 covers measuring approx. 11m deep x 5.4m wide

There’s also a potato preparation room c. 3m/3.5m & Unisex customer washroom/toilet c. 2m/2.5m at the rear

This is a “lock up” self-contained unit.

The landlord also owns the residential accommodation on first and second floor above the restaurant, which could be available for rent if needed. Upstairs is via independent rear access.

INFORMATION

Our Reference
CF33729E

Opening Hours
11.30am to 2.30pm Tuesday to Saturday plus Friday Tea Time Trade 4.30pm to 7.00pm.

Closed Sunday & Monday.

Tenure
Leasehold - Initially for a 5 Year Period.

(NOTE – Whilst the intention is to sell just the restaurant as a ground floor lock up business. The entire property, including residential accommodation above could be available for rental to the correct applicant, or even a Freehold sale at purchase or in the future).

Rent
£800.00 per calendar month (£9,600.00 per annum).

Rates Payable
We are advised that business rates are not currently payable on the restaurant.

The residential accommodation falls within Council Tax Band A.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

Viewing


Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.

Finance
Finance may be available to suitable purchasers

Business to Sell or Let?
Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

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1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.

Copyright © EM & F Group Limited 2020 - Company No: 03035561 - VAT: 631 4000 02