Commercial property for sale in Albion Street, Broadstairs CT10

Well presented and established restaurant premises located in broadstairs prime trading position

This lock-up restaurant premises is set within the heart of the towns' prime restaurant trading parade with views overlooking Balmoral Gardens and out to sea. The owners currently operate a long established Spanish tapas restaurant which has been featured in the Good Food Guide, Michelin Guide, Hardens, Square Meal, Daily Telegraph & Sunday Times. The premises also benefits from an on and off-sales licence, and would be suitable for an alternative restaurant style or use, subject to landlord's approval or any required consents.

The premises currently provides 26 covers, including bar seating. There is also provision for limited outside pavement seating to the front. The property features an impressive fully equipped fitted bar with slate counter-top, a fully equipped kitchen with extraction canopy and a W.C. At lower ground floor level is a large storage area with walk-in fridge and a wine store.

The premises are being offered for sale with a lease premium of £90,000 to include all furniture, equipment and fixtures & fittings appertaining to the business. The premises are being offered with the balance of the existing repairing and insuring commercial lease which runs to 2031, with a current rent of £15,100 per annum. A new lease could be available, subject to terms being agreed with the Landlord.

Entrance
Via steps up to entrance porch and door to restaurant.

Ground Floor

The Restaurant
8.75m x 4.05m narrowing to 3.63m (28' 8" x 13' 4" to 11' 11") Feature front opening window with external canopy and sea views across the pretty Balmoral Gardens. Large feature fitted bar with slate counter-top. Equipment includes a counter-top chilled display unit, large wine rack, glass-washer, 2 x two door and 1 x one door bar bottle fridges, stainless steel sink unit, water-softener and filter, coffee machine and point of sale till. Fitted produce display shelving. There is laminate flooring, feature ceiling panelling with heat and cooling circulation system. Door to lobby and WC. Open service access to kitchen.

Lobby With Coat Storage
Door to W.C.

Unisex & Disabled W.C.
Fitted with low level W.C. And wash hand basin. Extractor. Vinyl flooring.

Kitchen
3.38m x 2.76m (11' 1" x 9' 1") Fully equipped kitchen with a good range of high-end appliances to include: Stainless steel double plancha, induction hot plate, four ring induction hot plate, Falcon Dominator twin basket gas deep fat fryer, stainless steel freezer, turbo fan convection oven, saladette two door fridge, hot cupboard, stainless steel counter with hot top & heat lamps, dishwasher, tall larder fridge, stainless steel sink unit and stainless steel extractor canopy. Stairs leading down to lower ground floor with gas fired boiler.

Lower Ground Floor

Storage Area
7.06m x 3.81m (23' 2" x 12' 6") Tiled floor. Walk-in fridge (2.24m x 1.55m) Further equipment to include, electric mixer, liquidizer, dough-mixer, stainless steel larder freezer and two chest freezers. Door to further store room.

Store Room
4.30m x 4.12m (14' 1" x 13' 6") With concrete floor and gas meter.

Lease
The premises are being offered with the balance of the existing 10-year renewable repairing and insuring lease (commenced November 2021), with the rent currently set at £15,100 per annum. A new lease may be available, subject to terms being agreed with the Landlord. Three-yearly Rent Reviews.

Premium
The premises is being offered for sale with a lease premium of £90,000, to include all furniture, equipment, fixtures and fittings appertaining to the business. Plus stock at valuation.

Current Trading Times
Summer opening hours (April to October) 5 -10pm Monday – Friday, 12 – 3 & 5 - 10pm on Saturday, closed Sunday.
Winter Opening hours (November to March) 6 – 10pm Tues to Friday, 12 – 3 & 5 -10pm on Saturday. Closed Sunday and Monday.

Building Insurance
The Landlord will insure the premises with the premium recoverable from the tenant. The tenant will be responsible for their own contents insurance.

Business Rates
The current Business Rateable Value is £9,100. This is not the amount payable but the amount against which the current rate is applied. The premises may be exempt from Business Rates depending upon the ingoing tenants circumstances.

Services
The property benefits from mains electricity, gas, water and drainage.

Planning
All planning enquiries should be made to Thanet District Council Planning Department on or to 'thanet.gov.uk

Energy Performance Certificate - Rating 45 - Band B