MONMOUTHSHIRE - GRADE II GEORGIAN RESTAURANT/TAKEAWAY
Monmouth, Monmouthshire
Ref: 45811
Leasehold
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Key Features
Location
The famous medieval town of Monmouth stands alongside the River Wye on the English/Welsh border. It is a popular market town with a vibrant center with many shops, banks and businesses located there as well as small boutiques, craft shops and restaurants.
It is particularly popular with commuters as it stands alongside the A449 dual carriage way trunk route which links the M50 to the Midlands with the M4 corridor at Newport South Wales. The Misbah is located in the heart of the town just off the court square, overlooking the River Monnow a tributary to the River Wye and is well positioned for the main town centre's activity as well as the towns renowned schools. The business is located in 9 Priory Street a Grade II listed building dating back to the early 19th Century being of Georgian style. It is a terraced property part of the Monmouth Street improvements carried out in 1837, it is in keeping with much of the regency architecture within the town. It houses the well-established business which we now offer for sale, the dining facilities are on the ground as well as first floor and spacious flat second floor. The property is briefly described as follows: -
It is particularly popular with commuters as it stands alongside the A449 dual carriage way trunk route which links the M50 to the Midlands with the M4 corridor at Newport South Wales. The Misbah is located in the heart of the town just off the court square, overlooking the River Monnow a tributary to the River Wye and is well positioned for the main town centre's activity as well as the towns renowned schools. The business is located in 9 Priory Street a Grade II listed building dating back to the early 19th Century being of Georgian style. It is a terraced property part of the Monmouth Street improvements carried out in 1837, it is in keeping with much of the regency architecture within the town. It houses the well-established business which we now offer for sale, the dining facilities are on the ground as well as first floor and spacious flat second floor. The property is briefly described as follows: -
Property
TRADE AREAS
Ground floor RESTAURANT which is carpeted has leather bound roll topped contemporary style dining chairs to matching tables, currently arranged for 32 diners. DISPENSING SERVERY with display back fitting. CATERING KITCHEN which is in two sections. CATERING AREA with comprehensive stainless steels fittings, fixtures, effects and work surfaces. Fully UPVC stainless steel panelled walls. Altro nonslip flooring and four section non galvanized extractor canopy. Adjacent is the FREEZER ROOM/DRY STORE which has quarry tiled flooring and walls.
LADIES AND GENTLEMENS TOILETS.
FIRST FLOOR
Second RESTAURANT/FUNCTION ROOM, fully carpeted and well presented with leather bound tub style chairs and tables currently arranged for 40 customers. It has a BUFFET DISPENSING AREA. CUSTOMER TOILETS off landing.
Large OFFICE/STOREROOM with fitted kitchen units which can be utilized as a dispensing kitchen for the restaurant area. Further TOILET AND BATHROOM off the landing which is currently utilized purely for storage.
BASEMENT
Extensive run of CELLAR in three sections, full height ceiling utilized as beer cellar and the large DRY STORE with racking and preparation facilities and third room purely for STORAGE.
OWNERS ACCOMMODATION
SECOND FLOOR
Arranged as follows: -
BEDROOM 1 double size
BATHROOM with a suite of wash hand basin and shower. Separate WC adjacent.
Large domestic LOUNGE with feature fireplace with enameled tiled fire place
BEDROOM 2 double size
BEDROOM 3 double size
EXTERNAL
Small OUTSIDE SPACE utilized for storage of bins extra.
Ground floor RESTAURANT which is carpeted has leather bound roll topped contemporary style dining chairs to matching tables, currently arranged for 32 diners. DISPENSING SERVERY with display back fitting. CATERING KITCHEN which is in two sections. CATERING AREA with comprehensive stainless steels fittings, fixtures, effects and work surfaces. Fully UPVC stainless steel panelled walls. Altro nonslip flooring and four section non galvanized extractor canopy. Adjacent is the FREEZER ROOM/DRY STORE which has quarry tiled flooring and walls.
LADIES AND GENTLEMENS TOILETS.
FIRST FLOOR
Second RESTAURANT/FUNCTION ROOM, fully carpeted and well presented with leather bound tub style chairs and tables currently arranged for 40 customers. It has a BUFFET DISPENSING AREA. CUSTOMER TOILETS off landing.
Large OFFICE/STOREROOM with fitted kitchen units which can be utilized as a dispensing kitchen for the restaurant area. Further TOILET AND BATHROOM off the landing which is currently utilized purely for storage.
BASEMENT
Extensive run of CELLAR in three sections, full height ceiling utilized as beer cellar and the large DRY STORE with racking and preparation facilities and third room purely for STORAGE.
OWNERS ACCOMMODATION
SECOND FLOOR
Arranged as follows: -
BEDROOM 1 double size
BATHROOM with a suite of wash hand basin and shower. Separate WC adjacent.
Large domestic LOUNGE with feature fireplace with enameled tiled fire place
BEDROOM 2 double size
BEDROOM 3 double size
EXTERNAL
Small OUTSIDE SPACE utilized for storage of bins extra.
The Business
Our client has operated the Misbah for over 32 years and is accessibly recognized in mainly accolades including the best restaurant in South Wales by the ‘Good Curry Guide 2014’. It currently operates as a traditional Bangladesh restaurant on limited hours only opening 6 nights a week from 17:00-23:00 for additional dining as well as takeaways.
We have been advised that accounts for the year ending December 2019 showed takings net of VAT of £220,00 achieving a net profit of £36,000.
There is no reason why this level of trade should not be continued or even improved upon with the restaurant being in the hands of a younger owner operators or indeed be utilized by a number of restaurant styles.
We have been advised that accounts for the year ending December 2019 showed takings net of VAT of £220,00 achieving a net profit of £36,000.
There is no reason why this level of trade should not be continued or even improved upon with the restaurant being in the hands of a younger owner operators or indeed be utilized by a number of restaurant styles.
Tenure
LEASEHOLD £60,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.
The Property is held on a fully repairing and insuring lease agreement from a private individual for a term of ten years commencing January 2020. The lease falls within the security provisions of the Landlord & Tenant Act 1954 and is fully assignable. Rent currently stands at £21,000 per annum paid monthly in advance, subject to five yearly rent reviews, the next due in January 2025. There is no requirement for a rental deposit to be paid to the Landlord. The lease is free of all trade ties.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
The Property is held on a fully repairing and insuring lease agreement from a private individual for a term of ten years commencing January 2020. The lease falls within the security provisions of the Landlord & Tenant Act 1954 and is fully assignable. Rent currently stands at £21,000 per annum paid monthly in advance, subject to five yearly rent reviews, the next due in January 2025. There is no requirement for a rental deposit to be paid to the Landlord. The lease is free of all trade ties.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
Licence
A full Premises Licence is held.
Services
All main services. Gas fired central heating and air conditioning to the ground floor restaurant.
Local Authority: Monmouthshire County Council County Hall, The Rhadyr, Usk, NP15 1GA
Tel: 01633 644644
Local Authority: Monmouthshire County Council County Hall, The Rhadyr, Usk, NP15 1GA
Tel: 01633 644644
Enquire about this listing
Louise Marston
Wales
