Brighton Road, Worthing, BN11

Location

Worthing with a population in excess of 100,000 is a popular seaside town located in between the cities of Brighton (13 miles east) and Chichester (18 miles west) on the southcoast of England. Worthing is famed for its pier and promenade and both are within 500 yards of the subject property which is situated along Brighton Road in the heart of the town centre. Warwick Street and Brighton Road are known for their versatile choice of independent retailers, drinking establishments and eateries. A short walk away is Montague Street, Chapel Road and South Street where major retailers such as Boots, Marks & Spencer, H&M and the new Pret A Manger are situated.

Worthing mainline railway station with its regular service along the southcoast and north to London (journey time of 1 hour and 25 minutes) is located one mile to the north of the property whilst the town's major bus route is directly outside the property.

Description

Pear Properties and Justice and Co are delighted to jointly offer this established and well respected restaurant business situated in Worthing Town Centre to the market for the first time in over 15 years. 'The Fish Factory' opened in 2001 and is fitted to a high standard to include laminate wooden flooring, pendant lighting, ample electrical points, CCTV (not tested), wall mounted speakers and has superb natural daylight via its impressive (x)ft window frontage. Externally a canopy provides sheltered seating and tables for paying customers.

The premises comprise of an open plan restaurant area with open commercial kitchen. To the rear of the kitchen is further ancillary storage, preparation and washing up area and a covered lean to store. The premises benefit from three WCs.

Currently the restaurant hosts approx 75 internal seats with further outside seating for 20. The premises benefits from a Pavement Licence. The premises also benefits from a Premises Licence. Copies are available to view upon request.

This is seen as a potential turn key opportunity with immediate occupation and viewing is therefore highly recommended. Please note the seller owns the Trademark for Europe and Worldwide and is willing to remain in situ for a short handover period if required.

Summary

• Rent - £37,000 Per Annum Exclusive

• Premium – OIEO £40,000

• VAT – Not To Be Charged On The Purchase or The Rent

• Legal Fees – Each Party To Pay Their Own Costs

• EPC – C(51)

Business Rates

According to the VOA (Valuation Office Agency) the property has a Rateable Value of £20,750. We are verbally informed by the current owners that they have been paying £3,000.00 per annum. Interested parties are asked to contact Adur & Worthing Councils on 01903 221061 to confirm the exact amount applicable to their business

Terms

The property is available by way of a new lease for a term of 10 years at a rent of £37,000 per annum exclusive.

The Tenant will have a right to break the lease at the 5th year anniversary date, subject to providing the Landlords with 6 months prior written notice.

Premium

£40,000 + VAT for the fixtures, fittings and goodwill of the existing business.

The last 3 years trading accounts can be provided to serious applicants upon request.