Pub/bar for sale in Esplanade, Shanklin PO37

Guide price £975,000 (£975,000/sq. ft)
Pub/bar for sale From 1 - 2 sq. ft*
Interested in this property? Call +44 1983 619088 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property description

Situated on Shanklin's award winning seafront with spectacular sea views is this well-kept bar, restaurant and hotel. Shanklin is located to the East of the island with a population of circa 9,000 (census 2011).

The town boasts one of the busiest esplanades on the island supported by many restaurants, bars and leisure facilities. There is no shortage of entertainment for the children, with newly invested recreational facilities such as the recent investment into the new pitch and put and existing indoor play areas.

The main town of Shanklin itself offers great retail shopping, pharmacies, cafes, churches and is on a main bus route with easy links to other island hotspots such as Ryde, Newport, Sandown and Ventnor.

The Waterfront Inn trades all year and is licensed until 3am. During the peak season food is offered all day whilst lunch and dinner service is provided during the rest of the year.

There are 80 inside covers in the bar and dining room while the extensive sun terrace can seat approximately 120, with 30 of these being under the canopy. The top terrace can be enclosed and heated to facilitate all year round use and comfort.
Entrance from the Esplanade via steps through the sun terrace, glazed doors lead into the bar/ restaurant area. Ladies and Gents WC's to the rear.

Leading off from the bar is the kitchen with a range of commercial equipment.

There are eight first floor guest rooms, seven doubles and a twin room, all with en suites. The front three rooms benefit from amazing panoramic sea views, with a further room also enjoying sea views. All rooms have flat screen TV's and hospitality trays.

Owner’s accommodation includes one bedroom, en suite, a sitting room, an office and a conservatory.

To the rear of the property there is a private parking area used by the owners and their staff (parking for approx. Five cars), a storage and utility area with staff facilities and access to the beer cellar.

The business has a very high turnover and net profit. Turnover has steadily increased year after year.
The property is let on a 15 year lease from January 2018, at a stepped rent as follows:

Year 1 £65,000pa
Year 2 £66,500pa
Year 3 £68,000pa
Year 4 £69,000pa
Year 5 £70,000pa

Current rent payable is £68,000 pa. With this lease are 2 personal guarantors and a rent deposit of 6 months.

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Hose Rhodes Dickson Commercial, PO30 on +44 1983 619088 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hose Rhodes Dickson Commercial, and do not constitute property particulars. Please contact Hose Rhodes Dickson Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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