Freehold Licensed Restaurant in Rye East Sussex For Sale

Business description

We understand that the restaurant business has been established since about 1960 and is now for sale due to unexpected personal reasons. The menu comprises a fine range of starters, main courses, locally sourced steaks, vegetarian options, and sweets. There is good local trade and custom from visitors with many repeat bookings and also a good number of forward reservations.

Our clients acquired the business and commenced trading in February 2008 and are now selling for totally unexpected personal reasons. Weekly takings have varied between £505 and £3,415 and our clients’ projections for the first year are that income should reach £90,000 (including VAT). The gross profit margin is anticipated to be 65%. This is a character restaurant enjoying good levels of trade with potential to develop the integral shop unit.

Property information

Property:

Freehold

Living accommodation:

Proprietor’s Bedsitting Room. About 29’ x 13’6” (8.8m x 4.1m) including stairwell. There is a gas fired boiler providing hot water and central heating to the restaurant. Shower Room. Shower tray and electric shower. NB The bedsitting room and shower room are of a basic standard.

Location:

The restaurant is situated within the main town centre on an approach road to the shops and a large car park. Other shops in the immediate vicinity include an antique shop, bed and breakfast, public house and estate agency. Rye is a highly attractive Cinque Ports town which is full of character and charm. It attracts a high number of visitors each year and is typified by part timbered Grade II listed buildings, tearooms, cafes and restaurants together with a large number of niche businesses and independent traders.

Other information

Reasons for selling:

Unexpected personal reasons.

Trading hours:

12.00 noon to 2.30 pm and 6.00 pm to 10.00/10.30 pm Monday to Sunday inclusive.

Inventory / Stock value:

£500