Profitable easy to run Sandwich/Baguette takeaway

LOCATION

Located in the ever popular and busy Regent Street, arguably one of the busiest commercial streets in the Sandown, Lake, Shanklin conurbation. The unit benefits from being directly opposite the Nationwide Building Society and will be next door to the soon to be open large Regents Pharmacy. The unit is also supported by the many local specialist retailers such as Carpets Direct, Island Mobility etc. The premises also benefits from on street parking to the front and is also only a short walk to Shanklin Railway Station with its fast links to the mainland via Lake, Sandown, Brading and Ryde. Regent Street is linked one end to the High Street and to the railway station at the other. Shanklin is the Island's major town on the south coast and serves as a day-to-day needs centre, particularly for the Sandown, Shanklin and Lake conurbation which wrap around Sandown Bay. The sandy beaches and leisure offer of the area ensures high numbers of visitors and tourists which boost the local population of around 19,500.

DESCRIPTION

Building arranged over two floors with the ground floor being used as servery, prep area and kitchen and the first floor being used as dry storage and refrigeration. This is supported by a yard area to the rear with further storage and bin area. It benefits from its own rear entrance. The building can support a couple of tables to the front in the brick wall area adjoining the pavement. The business historically has had some tables and chairs inside and once upon a time traded the first floor as well, so this could be re-opened if felt necessary. Please see floor plan overleaf for further details. 

THE BUSINESS

Long established business having run as Rosie Lee for many years. The current owners’ have been in occupation for a couple of years but selling due to retirement. The business is currently run by a husband-and-wife team thus ideally suited to a two-person team. Current trading hours are 9am to 3pm but it has opened in the past from 8am to 5pm thus giving a potential for an increase in turnover if desired. The current business is run to trade at just under the VAT threshold and is open six days per week. The current passing rent is £8,000 per annum and this is held on a seven-year lease which started in October 2023. There is a break clause at the third anniversary.

TERMS

Offers invited in the region of £37,500 for the business, goodwill, fixtures and fittings along with an assignment of the existing lease at £8,000 per annum.

UNIFORM BUSINESS RATE

Rateable Value: £4,050 2024/2025: 54.6p without small business relief. Interested parties should make their own enquiries of the Isle of Wight Council to confirm any rate liability or rate concession that may be applicable by telephoning Business Rates on 01983 821000 

VIEWING

Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Dot Lucy on 01983 301 434. E: gchambers@gullyhoward.com or dlucy@gullyhoward.com

Under no circumstances should any approach be made to the existing shop as they will be unable to help