46, Regent Street
Shanklin
Isle Of Wight
PO37 7AA
An opportunity to acquire a trading restaurant with 2 storey accommodation above which is well located in the tourist hot spot of Shanklin Old Village, which in turn offers easy access to the High Street area of the town and the Big Meade recreation area. There is also a public car park being approximately 100 yards from the restaurant. The same family have been trading from the premises for approximately 7 years and have 44 covers to the ground floor. We further understand that historically there were an approximate further 30 covers to the first floor which in more recent times has been used as part of the private accommodation. The business and property is now offered for sale due to our clients retirement plans.
The premises comprises of an older style three storey building which is currently arranged as restaurant and kitchen to the ground floor with residential accommodation on the first and second floors all of which were approached via the main door. The accommodation is warmed by gas central heating.
To fully appreciate this rare opportunity we would recommend an early inspection. It comprises:
5.05m x 9.60m (16'7 x 31'6)With feature glazed panel bow window. 44 covers and bar area. Opening to:
3.76m x approx 3.96m (12'4 x approx 13')Being fully equipped with stainless steel kitchen equipment. Door to:
Leading to:
4.93m x 3.25m (16'2 x 10'8)
5.05m x 4.27m (16'7 x 14')
3.33m x 2.44m extending to 3.30m (10'11 x 8' exten
5.00m x 2.54m extending to 3.66m (16'5 x 8'4 extenWith wardrobe areas.
3.89m x 3.30m (12'9 x 10'10)Plus wardrobe area.
There is a small parcel of land to the rear.
All mains are available.
Freehold (To be confirmed)
Current rateable value (1 April 2023 to present)
£6,300
This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill.
Band C
Restaurant fixtures and fittings and goodwill. Inventory will be supplied at the point of sale.
NB: Our client would also consider leasing the restaurant & accommodation on a 15 year lease @ £15,000 PA (starting rent, subject to fixed reviews)
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
Property data and search facilities supplied by www.vebra.com