5 bed Flat For Sale £310,000
Preston Road, Preston, Brighton BN1

Reference - 47796

Description
Spice Bros is a popular and well respected Indian restaurant business located in Brighton just on the outskirts of the main town centre and within a densely populated residential area which also benefits from a number of other independent retailers and national chains.

The area in general is busy throughout the day with passing footfall, although approx. 70% of the income generated each week comes from regular and growing custom who use the take away service in the evenings and at weekends.

The business was originally established by our client with the doors being opened in November 2018 and provides, what is now a well renowned restaurant within the town with approx. 54 covers which allows flexible seating arrangements.

The business has an excellent roadside trading position with good signage and has been fitted to a high standard throughout including good quality fixtures and fittings due to the total refurbishment prior to opening in 2018 by the current owners.

Since being established, our client has built a loyal and regular customer base and already has a good reputation not only locally but also further afield for the food served by the experienced chefs which include the current owners. We have been advised that the client base has grown mainly through word of mouth, not only from locals but also from tourists who have used many of the taxi firms locally. A significant social media marketing campaign has boosted the performance of the business in 2020.

Weekly Sales
We have been advised that the average takings are in the region of £8,000 to 12,000 per week.

Accounts
Current records can be inspected when viewing.

Trading Hours
Sunday - Thursday 17.00 - 23.00
Friday & Saturday 17:00 – 00:00

Staff
Managed on a day to day basis by the owners which are all family members along with part time staff to cover various shifts.

Building External
The business occupies the ground floor of a three storey terraced property. The double fronted building is highly visible with excellent signage from the roadside.

Building Internal
The business provides a welcoming feel when entering from the street with the restaurant having been tastefully decorated throughout with a local theme thus creating a pleasant seating area for those wishing to eat in who are either local residents or tourists to the area.

The restaurant is open plan is design in design and has approx. 54 covers throughout although we have been advised more covers could be added. The main seating area offers flexible seating arrangements and is often used for private functions or larger parties.

The bespoke built bar and reception area are to the rear of the restaurant and benefits from marble effect work tops along with ample under counter refrigeration and display shelving for spirits and wines.

The commercial kitchen is well fitted and benefits from a number of stainless work tops with chiller and storage facilities under. Walk in fridge which we have been advised was recently refurbished.

Epos till system
Customer toilets facilities which are presented in excellent condition
Ample storage facilities throughout the ground floor

Residential Accommodation
The flat above the restaurant is fully refurbished to a high standard and consists of 5 bedrooms, 3 of which are on the first floor with the WC and shower-room and an additional 2 bedrooms on the second floor. This could be sublet to provide additional income.

Tenure
We are advised that the property is held on a 25 year lease which commenced in November 2018. The rent is £30,000 per annum exclusive (correct as advised on 13.03.20).

Rent reviews are at 5 yearly intervals.

Summary
A superb opportunity to purchase a destination Indian restaurant with impressive and substantial accomodation which benefits from a regular and loyal customer base which is constantly growing through word of mouth and personal recommendation.

A viewing is highly recommended to fully appreciate the prime location and overall business opportunity which would ideally suit an experienced hands on owner to maximize profits or an existing operator who is looking to expand a portfolio.