LOCATION
Located at Island Harbour this popular restaurant benefits from overlooking the surrounding countryside and the River Medina. It benefits from not only having the local trade with the harbour and pontoons to the front (approx. 125 moorings) but also from having residents on site (approx. 125 residential properties) and being on the main cycle path linking Newport, Cowes and Wootton.
Newport is the county town of the Isle of Wight with a population of 25,496 (2011 Census) at the head of the navigable section of the River Medina. It functions as the principal retail centre for the Island (estimated population 139,400) and also as an administrative hub. The town is a very bustling and popular destination for locals and tourists with circa. 2.5 million tourist visits a year.
With regard to transport the property is situated just off the A3054 and the nearest ferry links to the mainland are at East Cowes (five miles) and Fishbourne (six miles), with hovercraft services also available at Ryde (seven miles).
DESCRIPTION
Offered to lease is a fully equipped restaurant ready to trade.
The bright and airy property has a large bar area with restaurant seating and a further area which offers the opportunity to host private functions and parties with doors directly onto the raised terrace and deck. In total there are around 160 covers internally.
The kitchen is a fully equipped commercial kitchen with extraction. There are cold stores and freezers to the rear service yard plus further storage and beer cellar access.
Externally the property has terraced areas to the front and rear and offers a further 160 covers.
There is a Pizza Hut to the side of the site which gives the opportunity to offer takeaway food, light bites and ice creams.
The rear of the property has artificial grass play area with climbing frames, swings and slides. The grass is sprung in places for safety purposes.
SERVICES
The site has mains drains, water and electric. Gas is offered via flo gas.
TERMS
Our client is open to negotiating the terms and length of lease for the right tenant on an FRI lease. Rental price is on application.
OUTGOINGS
The VOA shows a rateable value of £28,250, the rates payable will be circa £15,600pa.
PARKING NOTES
The site has ample parking overlooking the River Medina.
VIEWING
All viewings to be arranged via HRD Commercial. Please contact 01983 527727 or email commercial@hrdiw.co.uk
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