Land

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Land

Albion Street, Broadstairs CT10
£160,000

Our Summary

  • A very rare chance has arisen to purchase this amazing Cocktail Lounge & Bar with Restaurant in this Iconic art deco building set amongst the modern vibes of central Broadstairs having undergone a £300,000 plus refit around 5 years ago the property offers 1750 square foot of trading floor space and outside seating area for around 15 covers, internally it offers seating with tables to cover 54 persons the business offers breakfasts / lunch & dinners as well as offer a trendy bar/lounge feel through to the late night, massive potential still to come

Description

This iconic art deco building in central Broadstairs has a rare opportunity to purchase a thriving Cocktail Lounge & Bar with Restaurant, which has undergone a £300,000 refit around 5 years ago. The property boasts 1750 square feet of trading floor space, including an outside seating area for 15 covers, and can seat 54 people internally. The business offers breakfast, lunch, and dinner, as well as a trendy bar/lounge atmosphere, with massive potential for growth. The property has a 20-year lease from 2016, with rent reviews every 5 years, and the current rent is £30,000 per annum plus VAT. With a Rateable Value of £24,250 per annum, the asking price of £160,000 includes the renewable lease, goodwill, fixtures and fittings, and current stock at valuation. Viewings can be arranged with the owners through this office.