19 Esplanade Shanklin

Description

The Waterfront Inn trades all year and is licensed as a pub/restaurant/hotel until 3am 365 days a year. There are 80 inside covers in the bar and dining room while the extensive sun terrace can seat approximately 120, with 30 of these being under the canopy. The top terrace can be enclosed and heated to facilitate all year round use and comfort. Entrance from the Esplanade via steps through the sun terrace, glazed doors lead into the bar/ restaurant area. Ladies and Gents WC’s to the rear. There are eight first floor guest rooms, seven doubles and a twin room, all with en suites. The front three rooms benefit from amazing panoramic sea views. Owner’s accommodation includes one bedroom, en suite, a living room, an office,, conservatory and garden. To the rear of the property there is a private parking area used by the owners and their staff (parking for approx. five cars), a storage and utility area with staff facilities and access to the beer cellar.

Location

Situated on Shanklin’s award winning seafront with spectacular sea views is this well-kept bar, restaurant and hotel. Shanklin is located to the East of the island with a population of circa 9,000 (census 2011).The town boasts one of the busiest esplanades on the island supported by many restaurants, bars and leisure facilities. The main town of Shanklin itself offers great retail shopping, pharmacies, cafes, churches and is on a main bus route with easy links to other island hotspots such as Ryde, Newport, Sandown and Ventnor.

Terms

Investment for sale £895,000. The business has a very high turnover and net profit. Turnover has steadily increased year after year. The property is let on a 15 year lease from January 2018, current rent payable is £82,250 pa. With this lease are 2 personal guarantors and a rent deposit of 6 months. The tenants are 60 years experience between them in the catering industry and have been exemplary tenants with all rent payments being on time or early throughout the lease term.