Key features
- Successful and profitable burger restaurant & take-away business
- Retail unit runs to a total of 60m² (645ft²) including store and staff facilities
- Very well equipped with quality equipment
- Asking price reduced for quick sale to £40,000 for the business, goodwill, fixtures and fitting, lease assignment, passing rent £10,000 pa
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 BUSINESS
A long established, very profitable business with a large client base from all over the Island. Turnover in the region of £240,000. Gross profit circa 60%
THE LEASE
Lease to be assigned with the sale of the business. The term is 15 years from 2019, at a passing rent of £10,000 per annum.
TERMS
Asking price reduced for quick sale to £40,000 for the business, goodwill, fixtures and fittings along with the assignment of the existing lease.
UNIFORM BUSINESS RATES
Rateable Value: £8,100 2024/25: 5.46p 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 01983 821000.
VIEWING
Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Dot Lucy on 01983 301 434. E: gchambers@gullyhoward.com or dlucy@gullyhoward.com
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