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Licenced Portuguese Style Restaurant In Eastbourne For Sale

Eastbourne, East Sussex
Asking Price:
£54,000
Sales Revenue:
£150,000
Cash Flow:
Available on request

Business
Hilton Smythe are delighted present to the market the Madeira Way Restaurant, a Portuguese style restaurant. Established by our client in March 2015 and now reluctantly offered for sale due to ill health.

Our client has developed an extensive menu offering home cooked Portuguese dishes including a large choice of steaks, fish, sides, pizza, salads and desserts. Our client uses excellent locally sourced meat from Hastings. The restaurant also has an alcohol licence and offers a range of wines and beers.

75% of customers are tourists visiting Eastbourne, people making special journeys from London and Brighton, locals and shoppers. There is a large Portuguese community in Eastbourne which also supports the restaurant; this accounts for the remaining 25% of trade.

Our client’s son has developed an active Facebook page and TripAdvisor rates the restaurant experience 5 out of 5. There is no current website, Groupon, deliveries or advertising, which could easily double current turnover. However, due to our client’s health he runs the restaurant to suit.

Our client has excellent relationships with the local offices and high street store such as Vision Express who arrange their Christmas meals and parties each year! In the Portuguese UK Travel guide, our client’s business is listed as the Number one Portuguese restaurant to visit.

Our client invested over £75,000 on transforming the restaurant.

Location
Madeira Way Restaurant occupies a highly visible trading position on Seaside Road in Eastbourne a thriving town centre in East Sussex.

The popular restaurant sits within a parade of independent retailers, restaurants and bars and is positioned one street away from the famous Eastbourne pier, the majestic coastline, attractions and Victorian parks.

Eastbourne is a well-known seaside resort on the south-east coast, 19 miles east of Brighton and central to the South Downs countryside and accessed directly by the A27. Eastbourne has undergone a multi-million pound investment programme with new housing development, infrastructure and is particularly popular with students.

There is metered parking in the streets around the restaurant, the main line station and bus station are less than 5 minutes’ walk away including the towns Arndale Shopping Centre.

Premises
Full refurbishment including new air conditioning, flooring, decoration, toilets, equipment, lighting, storage areas, alarms and CCTV.

Ground floor –

40 cover restaurant with solid wood chairs and tables, can be increased to accommodate larger party bookings, new wood floor and wall mounted tv.

Bar servery –
2 x points of draught dispense, 2 x glass fronted chillers, stainless steel sink, 2 arm semi-auto coffee machine and grinder, under counter store cupboard, glass washer, music system, glass fronted display chiller, laptop, till and card machine.

Kitchen –
Double stainless steel preparation sinks, chest freezer, 4 stainless steel preparation tables, Bosch fridge/freezer, new 6 ring gas oven, glass fronted desert chiller, stainless steel upright fridge, 3 upright fridges, single pizza oven, hot cupboard, commercial microwave, griddle, hot stone griddle, large extraction unit, second 6 burner gas oven, additional preparation sinks and fryer.

The kitchen has been fully cladded in thick white plastic sheeting for durability and hygiene.

Staff changing room, storeroom, with access to cellar -

Lower ground (front area) - gent’s toilet with 1 urinal and 1 cubicle. Ladies with a single cubicle and baby changing facilities.

Cellar –
Large area covering entire space of restaurant above, includes washing machine, dryer, water softener and filtration, beer keg points of dispense, air filter, ironing board and ironing area.

Manager's office.

Secure shelves storeroom –
2 chest freezers, 1 upright fridge, back up equipment including additional fryers.

Specific wine storage area.

Linen store.

Staff chillout area –
Additional chairs and tables, crockery and serving dishes.

Tenure
The business is being sold as a Leasehold opportunity.

Current rolling yearly agreement.

Rent of £12,000 per annum, new longer lease also available.

Hours
The business is open from 11am – 12am 6 days a week.

Tuesdays closed.

Staff
Owner and wife, with help from a full time chef, part time kitchen help and part time waiting staff.

Financial Profile
The 2016 accounts showed a turnover of £150,000; with a gross profit of 65%.

Property information

Property:

Leasehold

Contact Information

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    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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