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Restaurant/cafe for sale

£49,995

3 Duke St, Margate CT9

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Property description

Business
Hilton Smythe are delighted to offer to the market the Duke Street Diner which was established by our client in 2015 and only offered to the market due to her wish to concentrate on a different business venture.

This well-known concept has been designed and based on the American diners first featured in the movie Grease. The menu offers an authentic choice of burgers, hot dogs, fries, vegan specials, kids meals, pancakes, milkshakes, American desserts, floats and includes a choice of alcoholic drinks. All food can be consumed on the premises or taken away.

The business has an active face book page with nearly 1,600 followers.

The business is currently fully staff run due to our clients’ other business interests and we feel any new owner who could invest more time working in the business including utilising the unused restaurant dining space on the lower ground level, as well as grow the private party side and increasing the current opening hours of the business.

We are advised over £35,000 has been spent on the premises refit, with a high level of catering equipment.

Early viewing is highly recommended.

Location
Duke Street Diner is located on Duke Street, in the heart of the old town in Margate, Kent.

Margate is a famous seaside destination on Kent's, south east coast and it lies 38 miles north east of Maidstone. Recent investment including the opening of the Turner Contemporary art gallery 5 years ago which is less than 2 mins walk away and the newly opened Dreamland is also less than 2 mins walk on the seafront.

Duke street is an historic street located just off the Marine drive which links tourists to the Canterbury Road which links to the A299 and M2 motorway which leads commuters and visitors to both the M25 and London.

Margate railway station is located just by nearby Dreamland and there is lots of pay and display including a large multi storey for tourist parking.
Premises
Detached Victorian building with 8 x covers to the external front area and 40 covers arranged to the ground floor level.

Open plan dining area includes traditional 10 x red leather stools, chairs, banquet seating and American solid wood and metal tables. All of which can be moved to cater for different party sizes.

The curved service bar allows customers to sit and watch their food be freshly prepared in the open plan kitchen. The downstairs sitting area is also fully air conditioned.

Open plan kitchen / bar servery includes - post mix system, 4 x pot Bain Marie, double freezer, combi oven, music system, 2 x double fryers, 1 x commercial microwave, 1 x single griddle, 1 x double griddle, fire extinguishers, 1 x fridge freezer, 1 x single beer fridge, hot water earn, filter coffee machine, double stainless steel fridge with preparation counter top, triple stainless steel fridge with counter top chilled salad prep section, dishwasher, ice machine, stainless steel preparation sink, leases till system, hand sink, selection of blenders and milkshake makers.

Lower ground floor - includes separate gents and ladies’ toilets.

Door to - large function room / additional dining area which would allow additional 40 covers . Individually designed to highlight the period brick work and ceiling supports. The room includes it own bar servery positioned to the right of the room. The beautifully designed bar includes a triple under-counter fridge, ice machine, hand wash sink.

2 small storage rooms or offices.

Large store room includes further shelving, 2 x chest freezers, 1 x tall upright fridge and 1 single freezer.
Tenure
We are advised leasehold.

The original lease is 7 years with 4.5 years remaining,

Rent is £16,000 per annum.

The current business rates are just over £200 per month.
Hours
Summer

12.00pm – 10.00pm 7 days a week.

Winter

Reduced day to 4 days opening 12.00-8.00pm
staff
4 full time staff with additional part-time in the summer months. The business is run by a full-time Manager.
Financial profile
First full year £127,468 with a gross profit at circa 69%. With £ 35,000 of included assets.

What Zoopla users think of Margate

Overall rating:

  • currently 3 stars
Good - 56% (181 ratings)

Ratings breakdown:

  • currently stars
Community & safety
  • currently stars
Entertainment & nightlife
  • currently stars
Parks & recreation
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Restaurants & shopping
  • currently stars
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Community & safety
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  • 5
Parks & recreation
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  • 1
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  • 4
  • 5
Restaurants & shopping
  • currently stars
  • 1
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  • 4
  • 5
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Nearby transport

  • Margate (0.5 miles)
  • Westgate-on-Sea (1.9 miles)
  • Broadstairs (3.0 miles)
  • Manston Airport (3.6 miles)
  • London Southend Airport (32.1 miles)
  • Lydd Airport (35.6 miles)
  • Ramsgate Ferry Terminal (4.5 miles)
  • Dover Eastern Docks Ferry Terminal (18.4 miles)
  • Dover Western Docks Ferry Terminal (19.1 miles)

Nearby schools

View all schools in Thanet
  • Margate, Holy Trinity and St John's Church of England Primary School (0.3 miles)
  • Salmestone Primary School (0.8 miles)
  • Drapers Mills Primary Academy (0.9 miles)
  • Westgate College (0.5 miles)
  • Hilderstone College (2.9 miles)
  • East Kent College (3.4 miles)
  • Parkview Academy (0.6 miles)
  • Lighthouse School (0.7 miles)
  • Hartsdown Academy (0.9 miles)
Note: Distances are straight line measurements

Local info for Thanet

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For more information about this property, please contact
Hilton Smythe Commercial, BL1 on +44 1204 351867 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Commercial, and do not constitute property particulars. Please contact Hilton Smythe Commercial for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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