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A unique opportunity to purchase a freehold property in central Douglas. The property is leased to Isola Restaurant.
The well established restaurant business has been open since 2005 and has 10 years left remaining on the lease. The restaurant offers a takeaway service via its courtyard takeaway truck.
Annual rental income of £36,000. Yield 6.42%.
Centrally located in the heart of Douglas, the property can be found just off Ridgeway Street along John Street.
The property comprises three floors of dining catering for up to 60 covers, kitchen, store rooms, office area and side yard with further outside store.
Comprises a beautifully rustic reception leading into the main dining area that extends to approximately 340 sq ft. A spacious open plan bar area overlooks the middle of the dining area.
Corridor leads to kitchen, separate wash room and enclosed storage area to the rear.
Stairs lead to two further private dining rooms. Separate ladies and gents WC's are located on this floor.
Stairs to second floor office and store room with unused bathroom.
Lower Ground Floor
From ground level, stairs lead to dining area of approximately 360 sq ft.
A cobbled courtyard is located to the side of the property currently used as a car parking space with potential to develop and extend the restaurant further.
Door to outside store extending approximately 210 sq ft located at the rear comprising a large walk in fridge and further storage area.
All mains services are connected. Gas fired central heating.
The business including goodwill and equipment is for sale at an asking price of £75,000.
Inventories of the installations and furnishings will be supplied prior to exchange of contracts.
A new lease is being offered on full repairing insuring terms with a preferred term of 5+ years.
The asking rent is £36,000 per annum exclusive.
Each party to pay their own legal costs.
Copies of the last three year's trading accounts are available on request by agreement with the owner.
Strictly by prior appointment through the Sole Agents, Chrystals Commercial.
T: 01624 623778
T: 01624 833903
T: 01624 625300
T: 01624 625100
Registered Office: Chrystal Bros. Stott & Kerruish Ltd. T/A Chrystals, 31 Victoria Street, Douglas, Isle of Man IM1 2SE
Registered in the Isle of Man No. 34808 | VAT Registration Number: 001090349
Directors: Shane Magee MRICS, Neil Taggart MRICS, Joney Kerruish MRICS & Dafydd Lewis MRICS