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Prominent Seafront Restaurant In Popular East Sussex Town For Sale

East Sussex, UK
Asking Price:
£499,995
Sales Revenue:
£700,000
Cash Flow:
£200,000

A highly profitable and reputable seafood restaurant in East Sussex is now up for sale.

• Large enclosed terrace with newly heated canopies for 84 diners
• Downstairs kitchen and bar with 65- dining area
• New beach positioned terrace to be added for further 40-50 covers
• Unparalleled reputation and impressive profits

Established in 2016, this seafood restaurant is simply one of the best restaurants in the area, specialising in fine fresh seafood served in a friendly, relaxed environment. The restaurant itself is superbly situated, occupying one of the most enviable trading positions on the seafront. The popular East Sussex Town location is bustling and benefits from many pay and display parking spaces plus a multi story car park nearby, making it easily accessible for its repeat, loyal regulars as well as footfall, walk in customers. The business attracts a mix of business professionals, local people, tourists and those visiting from London.

The site itself boasts a large enclosed terrace with newly heated canopies allowing for daytime and evening dining for 84, with clear views to the beach. A new beach positioned terrace for a further 40 will be added this summer. There is a downstairs bar and kitchen with a 65-dining area to the mezzanine first floor level.

This thriving seafood restaurant prides itself on its high quality, locally sourced food. The lobsters served are caught within a stone’s throw of the restaurant, from the nearby beach, and all the steaks are sourced from Sussex farms. In the summer months, the restaurant can serve over 30 lobsters a day, which is more than any nearby seafood restaurant in this area. The choice of small plates has become an instant hit and current average spend sits at £45/£50 a head. The restaurant’s unwavering commitment to quality, service and customer loyalty, in turn, has seen it gain an unparalleled reputation, with excellent reviews on TripAdvisor and Open table, including a 4.8/5 score on Facebook.

Impressively, the seafood restaurant opened with zero turnover history and this year is projected to achieve the £1M point, making this an exciting and lucrative investment. Furthermore, this should easily be increased to £2M in the following years, due to the addition of a new beach terrace which should easily add another 40-50 extra covers.

The new owners will benefit from the vendor’s previous hard work, having developed the business from just a destination lunchtime and evening offering, to a venue that now holds business lunches and dinners, private birthday parties and wedding receptions. They also now boast a Christmas day menu this year, buffet menu, including a popular brunch offer, and advise a full breakfast menu would extend the daytime trading potential. Therefore, whilst this popular seafood restaurant is already thriving, there is great potential to expand if the new owner so wishes.

The excellent, highly trained, experienced team in place collectively offer any new owner the ability to walk straight in. Furthermore, a full business handover will be offered.

With government restrictions set to lift in the near future, with restaurants aiming to re-open in July, this reputable seafood restaurant will be the first port of call for its regular, loyal customers. With a glowing reputation, a loyal, repeat customer base, healthy profits and great potential for expansion, this is an exciting turn-key opportunity for potential buyers.

For more information about this business, please contact the seller on this page.

Property Information

Property:

Leasehold

Lease Terms:

We are advised the business is being sold as a Leasehold opportunity with a new 10 year lease paying just £18,000 per year which is highly enviable in this area.

£0 rates being paid in the current year due to the level of street repairs and maintenance being carried out by the council.

Location:

The restaurant occupies one of the most enviable trading positions on the Seafront. A prominent Seafood restaurant in a popular East Sussex town. The business sits alongside other bars and restaurants. There are many pay and display parking spaces located on the seafront including a nearby multi storey car park.

Premises Details:

External - a large enclosed terrace with newly heated canopies allow for daytime and evening dining for 84, with clear views to the beach. A new beach positioned terrace for a further 40 will be added this summer. There is a downstairs bar and kitchen with a 65-dining area to the mezzanine first floor level.

Size in square feet:
384
Energy Performance Rating:
E

Business Operation

Expansion Potential:

A new beach positioned terrace for a further 40 will be added this summer.

Competition / Market:

The business sits alongside other bars and restaurants.

Reasons for selling:

Retirement

Trading hours:

Monday to Thursday - 12.00pm - 10.00pm
Friday and Saturday - 12.00pm - 11.00pm
Sunday - 12.00pm - 10.00pm

Employees:
The restaurant is run and managed by our clients with 3 x chefs, 1 kitchen porter, up to 6 waiting staff.
Years established:
Established by current owners in 2016

Other Information

Support & training:

A full business handover will be offered.

Contact Hilton Smythe

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