About this property
Opportunity to purchase a well known diner business in Newport town centre.
Situated to the top of Newport High Street in a busy trading area. Neighbouring businesses include The Spectacle Maker, Castlehold Baptist Church and Day Lewis Pharmacy.
Newport is the principle town of the Island and offers amenities including St Marys Hospital, various primary and secondary schools, doctors’ surgeries, churches, cinema and the Isle of Wight County Hall. The 2011 Census shows a population of circa 25,500.
Offered for sale is Phil’s Diner, a very well-known trading business. The premises is held on a lease at an annual rent of £15,708. The landlord has advised he will grant a new lease to a successful applicant subject to references.
The property offers 117 sq m (1259 sq ft) overall. There is a fully equipped commercial kitchen, the diner offering approximately 50 covers, WCs and stockroom.
The premises benefit from access from the High Street and Pyle Street.
The property benefits from mains electric, water and drainage.
Our client is asking £50,000 for the business to include fixtures, fittings, goodwill + SAV.
The VOA shows a rateable value of £13,000. Using the current UBR the rates payable will be circa £6552, this doesn’t include any applicable small business rates relief.
All viewings to be arranged via HRD Commercial. Please contact 01983 527727.