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The Blue Crab High Street Street 1,017 SF Retail Building Yarmouth PO41 0PL $251,391 CAD ($247.19 CAD/SF)
INVESTMENT HIGHLIGHTS
- Situated towards the eastern end of the High Street of Yarmouth, amongst a variety of independent traders
- Ground floor comprises a commercial unit currently fitted if required as a restaurant
- A rare investment opportunity in the town
- Upper floors are owned separately on a ground leasehold arrangement
EXECUTIVE SUMMARY
We understand that our client holds the Freehold interest for the entire building under Land Registry Entry IW8111 and we are advised that the ground leasehold interest of the upper floors is held under Land Registry Entry IW81525.
The premises are being sold subject to the existing tenancies in situ, and all leasehold interests should be unaffected by the transaction.
Price guide for the freehold is £135,000.
Yarmouth in itself is a very popular historic West Wight town, drawing trade from both locals and holiday-makers alike, and in particular from marine activities and visitors attracted to the delightful harbour. Yarmouth is also home to the Wightlink vehicle and passenger ferry service to Lymington on the mainland and the New Forest beyond.
Opportunities such as this within Yarmouth are extremely rarely available, therefore early interest is encouraged. Further details of this investment opportunity are as briefly outlined overleaf.
Accommodation: The Freehold interest we understand includes the whole building. However, the upper floors are owned separately on a ground leasehold arrangement as a residential arrangement.
The ground floor comprises a commercial unit, currently fitted if required as a restaurant but now utilised by the existing tenant as a successful takeaway facility, drawing trade not only from the town but also from visiting sailors and holidaymakers.
The current lease for the commercial entity is the balance of a 20-year term from 2015, within the security provisions of the Landlord & Tenant Act 1954, Part II, at a passing rent of £12,000 p.a.x.
PROPERTY FACTS
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Business premium for sale at £125,000 for the Leasehold. The ingoing tenant may be required to contribute towards appropriate legal costs in respect of the lease arrangements. Tenure: Understood to be held on the balance of a 20-year lease from 2015, within the security provisions of the Landlord & Tenant Act 1954, Part II. A new lease may be available, with appropriate terms appropriate negotiation. We understand that the current passing rent is £12,000 p.a.x. The business: “The Blue Crab” has operated for many years and is only now available for sale due to our client’s future personal plans, and it should be viewed to be fully appreciated. Our clients trade only in freshly-cooked takeaway fish and chips, for which they have an enviable reputation both within the locality and with visiting sailors and tourists, with all food hand-cooked to order and to the highest of standards in individual fryers. The property is licensed, and currently employs one full-time and four part-time staff members, with current operating hours of 12-2pm and 5-8pm (8:30pm on Fridays), open from Tuesday-Saturday inclusive. These are out-of-season hours, and can be reviewed and reassessed during the main season. The property is still fitted for purpose as a restaurant if required, and an inventory of equipment that is included can be provided on the occasion of a sale. Turnover and accounts show good year-on-year turnover and net profit, and can be discussed, but only with bona fide applicants and their professional advisors, and release of these may be subject to signature of a confidentiality agreement.
| Space | Size | Space Use | Position | Available |
| Ground | 1,017 SF | Restaurant | In-Line | Now |
Ground
| Size |
| 1,017 SF |
| Space Use |
| Restaurant |
| Position |
| In-Line |
| Available |
| Now |
Ground
| Size | 1,017 SF |
| Space Use | Restaurant |
| Position | In-Line |
| Available | Now |
Business premium for sale at £125,000 for the Leasehold. The ingoing tenant may be required to contribute towards appropriate legal costs in respect of the lease arrangements. Tenure: Understood to be held on the balance of a 20-year lease from 2015, within the security provisions of the Landlord & Tenant Act 1954, Part II. A new lease may be available, with appropriate terms appropriate negotiation. We understand that the current passing rent is £12,000 p.a.x. The business: “The Blue Crab” has operated for many years and is only now available for sale due to our client’s future personal plans, and it should be viewed to be fully appreciated. Our clients trade only in freshly-cooked takeaway fish and chips, for which they have an enviable reputation both within the locality and with visiting sailors and tourists, with all food hand-cooked to order and to the highest of standards in individual fryers. The property is licensed, and currently employs one full-time and four part-time staff members, with current operating hours of 12-2pm and 5-8pm (8:30pm on Fridays), open from Tuesday-Saturday inclusive. These are out-of-season hours, and can be reviewed and reassessed during the main season. The property is still fitted for purpose as a restaurant if required, and an inventory of equipment that is included can be provided on the occasion of a sale. Turnover and accounts show good year-on-year turnover and net profit, and can be discussed, but only with bona fide applicants and their professional advisors, and release of these may be subject to signature of a confidentiality agreement.
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The Blue Crab | High Street Street
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