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Restaurant

£195,000

Sandgate Vaults,Sandgate High Street,Sandgate,CT20

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Property DESCRIPTION

Attractively located between Folkestone and Hythe, the coastal village of Sandgate is worth much more than a passing visit. A few minutes journey from both towns by car or bus - or an easy seafront walk or cycle ride - you'll find beaches with long views over the Channel, a High Street famous for antiques and collectables, a wonderful selection of inns and restaurants, including traditional fish and chips, as well as small independent shops. The town has good road routes with access to the A20, M20 and M25 and High Speed rail links from Folkestone to St Pancras in under 1 hour.

The property is a four storey former bank building that provides a modern restaurant with a contemporary feel upstairs and a former bank vault downstairs converted into a trendy bar.

All measurements are per the VOA website.

Ground Retail Zone A 36.9 sq m (397 sq ft)
Ground Retail Zone B 16.6 sq m (178 sq ft)
Ground Kitchen 8.3 sq m (89 sq ft)
Ground Internal Storage 9.9 sq m (106 sq ft)
Basement Retail Area 69.71 sq m (750 sq ft)

Total 141.41 sq m (1,521 sq ft)

There is the opportunity to purchase two flats above the business for an additional price, they are also being advertised individually.

The ground floor features a modern restaurant with circa 16 covers, a commercial kitchen and a separate prep and wash room. There are also two w/c's on the ground floor for public use.

The basement provides a bar in the former bank vaults and can seat circa 30 covers. There is also a small storage area and a beer cellar.

All trade fixtures and fittings will be included in the sale, an inventory is available upon request.

The pub and restaurant is very popular in the area with a 4 star review rating on Trip Advisor. There is scope to increase trade significantly by advertising the business and extending opening hours on a Sunday. The business operates Monday to Saturday: 12 noon-11pm and Sunday: 12 noon-6pm however this could be extended.

The current owners have provided a well established turnkey business and are looking to sell due to retirement. In our opinion the property is of a very high standard internally and does not require any further attention.

The business is currently owner operated with a mixture of full time and part time staff.

Full trading information will be made available upon request.

The Rateable Value according to the Valuation Office Agency is £7,000.

The current UBR for 2019/2020 is 50.4p and 49.1p for small businesses.

Energy Performance Certificate: 74 (C)

Legal Costs: Each party to bear their own costs.

Viewing Strictly by appointment through these offices.

SUBJECT TO CONTRACT (This firm operates a Complaints Handling Procedure, details of which are available upon request).

Please contact Kris Foster MRICS on 01303 212020 for further details.

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