Business for Sale in Great Yarmouth, Norfolk - SUBSTANTIAL CAFE / RESTAURANT WITH LETTING APARTMENTS - GREAT YARMOUTH, NORFOLK - Freehold: £975,000 Leasehold: £200,000 (Guide Price)

Key Information

Ref
R34607E
Type
Food Service Businesses: Restaurants
Location
England: Norfolk
Tenure
Freehold, Leasehold
Status
For Sale
Annual Sales
£395,000 Ex Vat
Accommodation
3 Bedrooms
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  • Substantial Freehold Property

  • C. 4,000sqft of Dining Space

  • Suitable for Other Uses (S.T.P)

  • 3 Letting Apartments

  • Licensed Outside Space

  • Prime Central Location

  • Can Accommodate 200 Covers
  • Leasehold/Freehold Option

  • Planning for 3 More Flats

  • Very Well Fitted Out

PARTICULARS

This exciting proposition presents a number of interesting opportunities for prospective buyers and as such we would strongly advise that it is considered carefully.

Currently a well established and successful cafe restaurant which could continue to operate as is or, given it’s substantial size and location, it could be of interest to those looking to set up their own food and beverage offering. In our opinion it would also suit very well one of the national chains.

With the freehold option adding 3 x 1 bed residential flats currently all let and with the benefit of planning consent in place for a further 3 x 2 bed flats it is clear to see why this one deserves your attention.

THE BUSINESS ITSELF

The vendor’s inspiration for the business when they acquired it in 1993 was to bring a Mediterranean feel to the East Coast of England and so La Continental was born!

Positioned on the sunny side of the street and with approximately 160 covers inside and 40 outside the business is able to accommodate the customer demand they enjoy especially in the warmer months. The sliding door frontage means the inside and out can become one greatly enhancing the atmosphere and holiday feel of the place and a big draw to bringing customers in.

Of particular note is that the outside space has its own alcohol licence which allows customers to be able to drink only and not be restricted to having to order food as well. In addition there is an ice cream parlour which opens out to the front for passing members of the public to purchase from, a great additional source of income and a further driver of customers through the door.

With an average turnover in the past 3 years of c. £395k p.a and an adjusted net profit in excess of £105k p.a the business is clearly successful and profitable as it is currently operated however with what the property has to offer it is right to expect that an alternative venture would be similarly so.

ACCOMMODATION
ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The ground floor of this substantial building would be included within the leasehold option and has a main internal dining area and open plan food preparation and service area which is in the region of 4,000 sq ft and has a frontage to the street of c. 40 ft.

The dining room is well presented with good quality carpet, suspended ceiling with inset lighting as well as feature wall lights. Along one side of the room, with an extensive range of cold and hot counters providing the divide but open to view from waist height up is the food cooking and service area with the bar and ice cream parlour to one end. The area is fitted out with a full range of equipment which all appear to be reasonably new and in a pristine condition and so it is easy to see why the business has a 5 Star Food Hygiene Rating.

The customer toilets can be found off an adjoining hallway from the dining room and are similarly well fitted out. To the rear of the main room is a further private preparation, washing and storage room measuring c. 550 sq ft in total with a commercial dishwasher station, a number of freezers, a walk-in fridge, ovens, shelving and such like. There is also a separate managers office with built in desk and shelving. Of particular use is the rear access which provides an excellent unloading spot for deliveries at any time of the day.

The residential accommodation is independently accessed to the rear of the building but overlooks both the front and rear. Currently 3 units but with planning consent for 3 more there is much scope for further redevelopment of the site should a new owner so wish subject of course to any further consents that may be required. Finally there is also the additional added benefit of having 7 car parking spaces included with the property.

A very interesting and flexible opportunity, well worth consideration and so contact us asap for further details.

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