Liming Restaurant, 13-15 New Street, Worthing, West Sussex, BN11 3BT

Property Details: • Type: Ask agent • Tenure: N/A • Floor Area: N/A

Key Features: • Popular coastal restaurant/bar • 7 years remaining on lease • 2 bars • First floor function room (70 covers) • Restaurant (88 covers) • 1 bedroom self-contained flat. Energy Rating C • Christie & Co Ref: 8867260

Location: • Nearest Station: Worthing Station • Distance to Station: 0.6 miles

Agent Information: • Address: Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

Full Description: DescriptionLimings Mexican Grill is a well-established and highly regarded restaurant occupying a prime corner position, spread over three storeys.This licensed venue operates seven days a week and is renowned for its modern, yet authentically Mexican, dining experience. The split-level main dining area accommodates over 100 covers, creating a vibrant atmosphere for guests.Other notable features include air conditioning, an extraction system and three-phase electric power,LocationThis restaurant enjoys a superb location just steps away from Worthing's picturesque seafront and the lively Montague Street shopping district.Worthing, a prominent seaside town on the South Coast, is celebrated for its vibrant shopping scene, diverse dining options, entertainment venues, and iconic Pier. Positioned at the base of the South Downs, the town is conveniently located 11 miles west of Brighton and 18 miles east of Chichester. The area is home to a variety of well-known retailers, complemented by a rich selection of independent boutiques and local businesses.Ground FloorThe ground floor has a tastefully designed interior with seamless blends of contemporary elements with traditional Mexican flair - bar servery, spacious main restaurant split into two areas (circa 88 covers).Customer toilets, fully equipped commercial kitchen with extraction and prep area and auxiliary storage rooms.Other FloorsFirst floor:Internal stairs lead to a substantial first-floor function room, complete with its own dedicated bar and additional customer toilets, making it ideal for private events.An internal corridor provides access to a versatile room that could serve as an office or storage space. Further stairs lead to a loft area, offering even more space for various uses. Additionally, two store rooms are accessible from both the ground and first floors.Fixtures & FittingsAll trade fixtures and fittings will be included in the sale and our clients will provide a trade inventory.External DetailsStaff roof terrace and bin store.Owner's AccommodationA self-contained one bedroom flat, kitchen lounge and bathroom.The OpportunityOur client has owned the business for many years and is now looking to sell in order to focus on other ventures.For a new owner this versatile restaurant could offer unlimited cuisine/trade options and we thoroughly recommend a viewing to fully appreciate this opportunity.StaffThe business is predominantly owner run with a complement of full and part time casual staff.Trading InformationNet turnover for the year end 31 January 2023 was £543,770 with a gross profit of 21.05%.Full trading will be supplied following a formal viewing.Trading HoursThe business operates seven days a week:Monday to Thursday: 12pm - 9.30pmFriday & Saturday: 12pm - 10.30pmSunday: 12pm to 8.30pmTenureThe premises are let on a lease for a term of 15 years from December 2016 at a current rent of £40,000 per annum.The lease is inside the 1954 Landlord & Tenant Act.VAT:We are informed that VAT is applicable on the terms quoted.Business RatesCurrent rateable value (1 April 2023 to present) is £18,250.This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill.RegulatoryPremises Licence.Energy Performance CertificatesEPC 1