RESTAURANT/TAPAS BAR

BUSINESS DETAILS:
Bag a Business is delighted to offer for sale The Statue House. Established in 2002 by our clients, it is currently trading as a fully licensed tapas bar and restaurant. Our client has created an informal restaurant with a Spanish theme and can cater for parties as well as individuals. Annual turnover is currently £250,000 producing a gross profit of 60%. Further income comes from the letting accommodation, which produces in excess of £20,000 per annum. Trade is all year round and the restaurant benefits from the many visitors to this very popular area. The Statue House also enjoys a loyal, local customer base. Weymouth hosting the Olympics in 2012 should have a significant impact on trade, particularly with the building of new roads, hotels and other facilities. This is a wonderful opportunity to acquire a highly successful business that has a prime trading location. We would urge early discussions with Bag a Business.

The Statue House occupies one of the most prominent sites in Weymouth and is considered one of its landmark buildings. Situated halfway down Weymouth's Esplanade, and in the centre of the one way system, The Statue House enjoys a high degree of passing trade. Located just 25 yards from, and overlooking, Weymouth's award winning beach, it is also opposite the tourist information centre, the coach stop and the area where the weekly firework displays are held during the summer. Weymouth has the honour of hosting the 2012 Olympic sailing events and the area directly outside The Statue House is going to be pedestrianised and re-named St Georges Square, and will possibly offer outside seating. The whole of the Esplanade area is also going to be upgraded and improved. Weymouth is located on the Jurassic coast in Dorset and is a desirable and sought after area enjoying excellent transport links with Fastcat sailings to the Channel Islands and the mainline railway to London.

FINANCIAL DETAILS
W/T: £4,807.69 approx.
GP: 60% approx.

OPENING HOURS
7 days: 10.00am - 10.00pm

ACCOMMODATION DETAILS
A unique grade II listed building, set over 5 floors, and being one of Weymouth's landmark properties, comprising basement, ground floor level restaurant with a minimum of 40 covers, first floor function room/overspill restaurant and store room, second and third floor flats. Briefly comprising:

BASEMENT
Extensively fitted commercial kitchen with electrically operated dumb waiter to ground and first floors (new in 2003), 6-burner hob and oven, 3 stainless work surfaces, Salamander grill, ice machine, hot water tank, double sink and drainer, 2 upright freezers, 1 fridge/freezer, 2 refrigerators and full extraction system. Cellar with 2 areas, shelves and milk machine.

GROUND FLOOR
Restaurant with seating for a minimum of 40, 3 bay windows with views over beach and sea, serving counter/bar area with salad display chiller, 2 cup espresso machine, bean grinder, 2 bottle display refrigerators, itemised electronic cash register, 96-bottle wine rack, sink and water heater.
Hallway with stairs

FIRST FLOOR
Ladies and gents toilets
Function room for 22 covers
Store room

SECOND FLOOR
2 single bedsit rooms, currently rented out at £75 per room per week
Small flat consisting of 2 rooms, rented out at £120 per week

THIRD FLOOR
Flat consisting of 4 rooms and a kitchen, rented out at £120 per week.

EXTERNAL
Front steps leading to restaurant
Separate entrance to flats

TENURE
Leasehold
Original lease length: 15 years
Remaining lease length: 8 years
Review every 4 years
Rent: £26,000 per annum