Restaurant/cafe for sale in Regent Street, Shanklin, Isle Of Wight PO37

Location

The property is located on the popular Regent Street, benefitting from close on-street and off-street parking, and supported by a variety of national specialist retailers and eateries. Shanklin is the Island's major town on the south coast and serves as a day-to-day needs centre, particularly for the Sandown, Shanklin Lake conurbation, which wrap around Sandown Bay. The sandy beaches and leisure offer of the area ensure high numbers of visitors and tourists, particularly in the Summer season, boosting the local population of around 19,500. It also has a railway station which goes through to Lake, Sandown, Brading and Ryde Pier Head to link up with Wightlink’s fast passenger ferries to Portsmouth Harbour and trains onwards to London Waterloo and Gatwick.

Description

The successful burger business trades from a shop unit with the benefit of a glazed frontage of 4.4 metres, and running to a total of circa 60m2 (645 ft2). There is also a store, office/kitchenette and toilet facility to the rear of the premises. Please see floor plan for further detail.

The Lease

Lease to be assigned with the sale of the business. The term is 15 years from 2019, at a passing rent of £8,500 per annum.

Terms

Asking price reduced for quick sale to £29,000 for the business, goodwill, fixtures and fittings along with the assignment of the existing lease.

Uniform Business Rate

Rateable Value: £9,100

2022/23: £0.512 without small business relief. Interested parties should make their own enquiries of the Isle of Wight Council with regard to any rate liability or rate concession that may be applicable by telephoning business rates on .

Viewing

Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Morgan Williams on .

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