Mexican Restaurant In Canterbury

Business Description

LOCATION
Situated in a prominent position on St Peter’s Street, between Black Griffin Lane and St Peter’s Grove, in Canterbury town centre. Neighboring occupiers include; Nandos, STA Travel, Chicken Cottage, British Heart Foundation, Subway, Oxfam, Five Guys, Barretts Jaguar, Zizzi, ASK Italian and Wildwood, together with a good vibrant mix of other independent and local traders. Canterbury West mainline railway station is within walking distance, providing services to London Charing Cross, St Pancras International, Margate and Ramsgate. There are also buses serving the area located on North Lane nearby.

BUSINESS
In the current hands for many years this well established concern trades as a successful Mexican restaurant. However, its prime trading location in the city center amongst a number of leading national catering chains means that it is eminently suitable for a wide variety of alternative styles of cuisine.

TURNOVER
We are advised the business currently takes £400,000 PA.

STAFF
3 Full Time + 3 Part Time

HOURS
12:00 - 22:30 Tues - Thurs
12:00 - 23:00 Thurs - Sun
Closed Mon

PREMISES
Mid terrace fully fitted restaurant (70 covers) arranged over the ground floor and basement. The ground floor is currently arranged as a mainly open plan seating area, with a bar/serving counter, kitchen and customer WC’s. The basement provides storage and a managers office. There is outside seating for a further 40 to the rear.

LIVING ACCOMMODATION
The first and second floors are self-contained and provide 8 letting rooms, with a shared kitchen and bathrooms. In addition, there is a block of 3 self-contained flats to the rear, comprising 2 x 2 beds and 1 x 1 bed. Further information can be provided on application.

TENURE
A new Full Repairing & Insuring lease on terms to be agreed, with a premium for the fixtures, fittings and goodwill - this being for the restaurant and 8 letting rooms.
RENT £85,000. (with an income of £48,000 pa from the letting rooms) So net rent £37,000 PA.

Alternatively, the sale of the Freehold is offered (with vacant possession of the restaurant and patio garden), to include the 8 letting rooms.
The 3 rear residential units are also available on a freehold basis, which are currently tenanted and provide an additional income of £44,500 per annum.

EPC RATING
TBA

BUSINESS RATES
We understand that the current rateable value of the restaurant is £35,000. Contact Canterbury Council on ----- ------ to confirm what amount is actually payable.

Property Information

Property:

Freehold

Premises details:

Mid terrace fully fitted restaurant (70 covers) arranged over the ground floor and basement. The ground floor is currently arranged as a mainly open plan seating area, with a bar/serving counter, kitchen and customer WC’s. The basement provides storage and a managers office. There is outside seating for a further 40 to the rear.<br> <br>

Business Operation

Trading hours:

12:00 - 22:30 Tues - Thurs 12:00 - 23:00 Thurs - Sun Closed Mon

Other Information

Furniture / Fixtures value:

Undisclosed

Inventory / Stock value:

Undisclosed