Kynges Well 200365 10 High Street, IW PO36 0DG FREE HOUSE & RESTAURANT BUSINESS FOR SALE

CHARTERED SURVEYORS COMMERCIAL PROPERTY AGENTS

RETAIL INDUSTRIAL

OFFICE

INVESTMENT

BUSINESS TRANSFER

DEVELOPMENT LAND

MANAGEMENT

RENT REVIEWS Food led destination free house with excellent potential for a 2 partner team to benefit from this LEASE RENEWALS strong business VALUATIONS Separately accessed 2 bedroom owner's/letting ARBITRATION accommodation over Assignment of the existing lease at a current ACQUISITIONS passing rent of £25,000 per annum EXPERT WITNESS For Sale with offers invited "in the region of" £70,000 for the business, trade fixtures, fittings & HISTORIC BUILDINGS goodwill. Plus stock at valuation on completion CONSULTANCY

LOCATION Situated in the centre of the historic village of Brading on the eastern side of the Island, once at the DIRECTORS head of Brading Harbour, Brading now offers a delightful village environment on the main road NICK BUCKLE BSc(Hons) MRICS between the Island's largest town of and the --Lake conurbation. Brading is a GAVIN CHAMBERS BA(Hons) magnet to visitors during the ever extending summer season and offers an excellent opportunity to GRANT HIGGS capture local and passing trade. Particularly popular is its Roman Villa with associated Museum. JAMIE WHITTLE BSc(Hons) PgDipSurv MRICS DESCRIPTION SHAUN WOOLFORD MBA BSc(Hons) Dip Proj Man MRICS We are informed that the property dates back to the early 1700's and has been completely redecorated by the current owners to a high standard. The property enjoys substantial road frontage REGISTERED OFFICE of some 12.1 metres with entrance via an oak framed corridor with leaded light windows. The public 62 High Street, Newport, PO30 1BA Registered in and Wales No. 6477562 areas run to circa 159m² (1,711 ft²) divided in to two main dining areas with stone fireplaces, stripped Vat No. 928 0215 39 oak floors and a feature illuminated well. The main restaurant can cater for around 54 covers and a separate restaurant/function room can potentially cater for a further 60 covers. The public areas are serviced by ladies and gents toilet facilities and there is also a separate disabled toilet/washroom. 62 HIGH STREET NEWPORT Commercial Kitchen ISLE OF WIGHT PO30 1BA A modern commercial kitchen, well fitted for the trade running to approximately 89.5m² (963 ft²) with TEL 01983 822555 external side access for deliveries and adjacent cellarage and a walk-in chiller. ______OWNER'S ACCOMMODATION MERRITTS FARM Separately accessed via an external staircase onto a roof terrace, there is a recently refurbished two WHITE HORSE LANE bedroom flat, which provides excellent owner's/manager's accommodation or a potential holiday let. WATERLOOVILLE PO7 6QL OUTSIDE TEL 02392 257224 There is a small garden to the rear adjacent to the car park. Attached outbuildings to the rear of the ______premises comprise staff room/store and laundry room with toilet facility, dry store, log store and EMAIL [email protected] further store room and gated refuse area. There is parking for at least 12 vehicles accessed off the High Street to the side and rear of the building. www.gullyhoward.com PREMISES LICENCE Licence IW 048513 allows for serving alcohol Monday to Sunday 10:30 to 00:30 am and Friday to Monday on Bank Holidays 10:30 to 00:45 am THE LEASE An assignment of the existing 5 year lease from 1st February 2015 at a current passing rent of £25,000 per annum. The lease does have the protection of the 1954 Landlord & Tenant Act. THE BUSINESS The business presents an ideal opportunity for a two partner team and trade is currently split approximately at 75% food and 25% wet sales including a good percentage of wine sales. TERMS For Sale with offers invited "in the region of" £70,000 for the benefit of the business, trade fixtures & fittings simultaneous with an assignment of the existing lease. Plus any remaining stock at valuation on completion. INVENTORY An indicative inventory can be made available to bona fide applicants upon request. UNIFORM BUSINESS RATE Rateable Value - £29,500 2018/2019: £0.493p without small business relief. Interested parties should make their own enquiries of the Isle of Wight Council to confirm any rate liability or rate concession that may be applicable by telephoning business rates on 01983 821000. COUNCIL TAX The residential accommodation falls within Band A for Council Tax (source: www.voa.gov.uk). VIEWING Strictly by apppointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, , IW PO38 1EJ. Contact Gavin Chambers or Jane Bauldry on 01983 301434. E: [email protected] or [email protected] Under no circumstances should any approach be made to personnel or staff within the property as they will be UNABLE to assist

Whilst these particulars are believed to be correct neither the agent nor the clients guarantee accuracy nor are they intended to form part of any contract. We have not carried out any survey. All offers are subject to formal contract. Interested parties must satisfy themselves independently as to VAT in respect of any transaction. Gully Howard Chartered Surveyors and staff are not able to give any warranty or representation in connection with this property and have not tested any plant, purchasers must satisfy themselves as to its condition. Plans are shown not to scale and for identification only, dimensions are approximate and location plans may not show all current occupiers.