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Property description & features
- Sale of Freehold and Business (130 Cover Restaurant)
- Whole Building Refurbished in 2019
- 5 Bedroom Staff Accommodation, and a One Bedroom Self-Contained Owners Flat
- Currently with £260,000 T/O Evenings Only
Description - FREEHOLD AND BUSINESS SALE
£1,170,000 PLUS VAT
LOCATION DESCRIPTION
Located in the heart of Sittingbourne High Street is this 130 seater restaurant in a Grade II Listed property with immediate neighbours which include Barclays Bank, Sports Direct, Poundland and Natwest Bank. The M2 lies around 5 miles to the south, linking to the M25 and Dartford River Crossing. Sittingbourne Train Station is just around 0.5 miles to the north, linking to London St Pancras, London Bridge and Charing Cross Station.
PROPERTY DESCRIPTION
Ground Floor: 132.68 SqM (1427 Sq Ft) incorporating a restaurant currently seating 60 covers, a function room with 12-15 covers, a large kitchen with preparation area, staff WC, bar and pizza servery.
Basement: 35 SqM (377 Sq Ft) includes a walk-in chilled room.
First Floor: 51.7 SqM (556 Sq Ft) including a restaurant seating area currently with 55 covers, ladies and gents WCs.
Additionally there is 5 bedroom staff accommodation to the first floor with kitchen and bathroom, and a one bedroom self-contained owners flat. To the rear of the property is a car park comfortably housing a minimum of 6 cars.
AGENT'S NOTE
The building was refurbished in 2019 before the Covid pandemic and was reopened in January 2022. Currently the restaurant turnover is £5000 per week (260,000 per annum) from trading evenings only. Pre-pandemic, weekly takings were £13,000 per week (to be verified). The proprietor is looking to retire, hence the reason for sale.
CURRENT CLASS OF BUSINESS USE
The current class of business use is an 'E' Category use. Interested parties are to seek clarification from the local authority.
CURRENT BUSINESS RATES
Figures from the Valuation Office show a current rateable value of £22,250 per annum as of May 2022 which normally means an amount payable of between 40%-50% of this figure. Please check with the relevant local authority which is Swale Council. You as a tenant may qualify to apply for small business rates relief meaning you could pay nothing or a proportion of this payable amount.
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