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CowesCommercial property for sale

£54,995
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About this property

A fantastic opportunity to purchase a very well known and highly regarded restaurant in a great location in Cowes Town Centre. Price on Application.

LOCATION
Situated in Cowes, this fantastic opportunity is located on Shooters Hill and benefits from a high level of footfall, passing trade and regular repeat custom.

Neighbouring businesses include Sainsbury’s, Staples & Green, clothing retailer TOIO and other boutique clothing and accessories stores.

Cowes is an internationally renowned yachting centre and, with its Red Funnel links from Southampton, a very popular destination for the locals, yachting community and tourists alike.

DESCRIPTION
Selling due to retirement, one of the highest rated restaurants in Cowes, Mojacs offers approximately 48 covers over the ground and first floors.

The premises has the benefit of a full license for alcohol sales, the bar is equipped to provide draught beers, various gins, spirits and cocktails which has proved very popular.

The business benefits from a full EPOS system with bar and kitchen printers.

The ground floor provides some 32 sq m (344 sq ft) of restaurant space plus commercially equipped kitchen and storage of around 19 sq m (204 sq ft). All kitchen equipment will be included in the sale.

The business owners have renewed and updated the restaurant, frontage and toilet facilities in the last year.

To the rear of the property there is access to a small courtyard providing further outdoor storage space.

The first floor offers approximately 15 sq m (161 sq ft) of restaurant space.

The two WCs are also located on the first floor.

There is also a loft hatch providing access to further storage on the second floor of around 9 sq m (96 sq ft).

Each floor also has air purifiers and air con units providing cool and hot air. An inventory can be provided upon request.

A brilliant opportunity to acquire this unique restaurant, which has been run by the same family for the past 22 years, and has a proven track record.
The business name has been trademarked and this can be transferred to any new owner.

The menu offers various dishes and has been kept up to date over the years offering various vegetarian, vegan and gluten free meals.

Included in the sale would be the current website facility which enables online bookings and a takeaway service. Online bookings are currently managed by ResDiary, for which a monthly subscription is payable.

The business is in a vibrant town centre location, there is proven year-round trade and full accounts will be made available to bone fide applicants, once a viewing has been undertaken and a non-disclosure agreement has been signed.

SERVICES
The property has mains gas, electricity, water and drainage.

TERMS
The business is available to purchase for £54,995 to include the fixtures, fittings and goodwill + stock at valuation. Please contact 01983 527727 to discuss.

The property is held on a 10 year lease from September 2017 at a current rent of £12,000 pa which will be transferable to the new business owner.

OUTGOINGS
The VOA shows the rateable value as £9,300, the rates payable would be circa £4,690 although this figure does not include any applicable small business rates relief.

VIEWING
All viewings to be arranged via HRD Commercial. Please contact 01983 527727. Please do not approach the business direct.

Map

Brochure

Property Brochure

Cowes

£54,995

Full PDF brochure containing all the details of the property in Cowes - £54,995

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EPC

Branch

Commerical

The Estate Office, 138 High Street, Newport, Isle of Wight, PO30 1TY

01983 527727

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Opening hours

  • Monday07:30 - 17:30
  • Tuesday07:30 - 17:30
  • Wednesday07:30 - 17:30
  • Thursday07:30 - 17:30
  • Friday07:30 - 17:30

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