Business for Sale in Sheringham, North Norfolk Coast Restaurant on the North Norfolk Coast (Confidential Sale)

Leasehold Price £79,950

Key Information

Reference
R35955E
Tenure
Leasehold
Status
For Sale
Region
Norfolk
Sector
Restaurants
Rent Payable
£22,500 per annum.
Business Rates
Business rates £7,609.75 per annum. Water rates £557.75 per annum.
Accommodation
1 bedroom flat above the restaurant.
  • Excellent Town Centre Position
  • Popular & Busy North Norfolk Seaside Town
  • High Level of Footfall
  • Located Between Large Town Car Park/Sea Front
  • 40 Covers Inside, 52 Covers Outside (92 Total)
  • Equipment & Fixtures & Fittings Included
  • 15 Year Lease from May 2023
  • ‘B’ Energy Performance Certificate Rating
  • One Bedroom Flat Which Could be Let Out
  • Town Known for Regular Local Events

Business Information

Previously operating as a charming café, this family-owned restaurant launched in May 2023 and sits in the vibrant heart of Sheringham—a beloved seaside destination on the North Norfolk Coast. Renowned for its delicious breakfasts, brunches, lunches, cakes, hot and cold drinks, and traditional Sunday Carvery. The business prides itself on only using the finest ingredients sourced from within a 10-mile radius from trusted suppliers, which makes it popular with the local clientele and tourists alike.

The restaurant is of good size, enhanced by alfresco dining options, translating to robust level of turnover and profit. The interior accommodates 40 guests, while the rear garden offers an additional 40 covers, plus a street-facing area with a further 12 seats available in fair weather.

The business is ripe for a new owner to infuse their own mark and personality into the restaurant and there is the additional benefit of having a newly refurbished and spacious one bedroom flat above.

THE BUSINESS

The restaurant provides a wide range of food and drinks, including full English breakfasts, Vegan breakfasts, many brunch options including omelettes, sausage and bacon sandwiches, toasties, porridge and pancakes, eggs and more. The lunch menu includes jacket potatoes, sandwiches, and a range of sides and plenty of cakes, traybakes and teacakes are also on offer. For drinks there are various hot and cold options available including cream teas and your usual fayre.

Enjoying high footfall, there is constant passing trade with locals, daytrip visitors to the town and holiday makers being regular customers. There is also the facility to hold Private BBQ functions and regular events in Sheringham such as the Viking Festival, Classic Motor Show/Carnival Day, 1940’s Weekend and New Year’s Day Swim can all be very lucrative.

PREMISES

The restaurant itself is well presented throughout and finished to a high standard. Of good size it measures approximately 105m2 with a rateable value of £15,000. Benefiting from air conditioning, the walls are timber clad with black lino wood effect flooring complementing the style and the frontage is fully glazed. The kitchen is of good size and features a stainless steel 10 ring gas hob with Unox oven and full extraction unit.

With 92 possible covers in total, comprising 40 inside the restaurant and 40 outside in the rear garden and a further 12 to the front, there is ample space for customers. A bar and drinks area/service area features a coffee machine, there is a w.c, pot-wash room, storage area to open rear access door.

There is a 15-year (full repairing and insuring) lease in place from May 2023 and rent is currently £22,500 per annum at the time of listing.

ACCOMMODATION

One bedroom flat above the restaurant with open-plan living/dining room and kitchen, good sized bedroom and bathroom. Benefiting from double glazing the flat can be independent if the door to the restaurant was blocked off.

A new owner has the option/choice of living in the one-bedroom flat themselves, or it could be rented out to obtain an additional income stream. We believe a monthly rental in the region of £725 per month (£8,700 per annum) should be achievable based on other rented properties in the area.

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ADDITIONAL INFORMATION

AGENTS NOTE: This is a business for sale as a going concern, not an empty premises for sale or let.

CONFIDENTIAL SALE: This listing is confidential at the vendor's request. In order to release further information on the business – including the business name, location and the accounts, we require you to complete a short online non-disclosure form. Please contact our office and we will provide full instructions and assist where required. We have used a general postcode for this listing to protect the confidentiality of the business name and location, as online platforms require a valid postcode to market a business or premises.

REFERENCE NUMBER: R35955E.

OPENING HOURS: Open 7 days per-week. Monday 9:00am to 5:00pm. Tuesday to Friday 10:30am to 4.30pm. Saturday 8.30am to 5:00pm. Sunday 9.30am to 4.30pm.

TENURE: Leasehold. 15 year lease from May 2023.

The purchaser will be responsible for the landlords costs and fees in connection with the assignment of the existing lease.

RENT PAYABLE: £22,500 per annum.

RATES PAYABLE: Business rates £7,609.75 per annum. Water rates £557.75 per annum.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

STAFF: Two full-time staff, two part-time staff at the time of instruction. Additional staff are usually taken on over the summer period.

EPC: The energy performance certificate shows a rating of ‘B’ and expires in February 2033. Full energy performance certificate available on request.

PRICE: £79,950 + STOCK AT VALUATION

For the benefit of the leasehold/freehold, goodwill of the business, fixtures, fittings and equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

VIEWING: Strictly by appointment only, please get in touch to make an appointment.

FINANCE: We may be able to help you with business financing or your commercial mortgage needs, subject to eligibility. Please let us know if you need our assistance with this and we will put you in touch with our recommended whole of market broker.

BUSINESS TO SELL: Thinking of selling your business? That's our business!

If you are interested in finding out how much your business is worth, we offer a free and confidential valuation service. You can choose the time and day that suits you best, and we will give you an honest and professional assessment. Please contact our office at your convenience to book an appointment.

PREMIER MARKETING: We are passionate about showcasing our businesses in a way that sets us apart from others. We provide quality property details and comprehensive information on all online platforms and our own website. If you want your business to stand out from the crowd, call us to book a free valuation.

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DISCLAIMER

1. Money Laundering Regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets, flooring or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.

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