1 bed property for sale

Church Street, Ventnor, Isle Of Wight PO38

Occupying the ground floor of this modern art deco inspired building, perfectly situated to enjoy fine, far-reaching views of Ventnor Bay and the impressive headland beyond, this popular restaurant provides the ultimate fine Italian dining restaurant, in a popular town on the South of the Island.

Aptly named after the Rex cinema, which once occupied this site, the this property is a delightful venue visited by Island visitors and locals alike. The restaurant itself, decorated in a 1930's style to echo the building's unique design, provides a bar, a well-equipped commercial kitchen with an exceptional range of high-quality equipment which will be included in the sale and plenty of seating. There is ample space both inside and out, allowing for ample covers within the restaurant itself and the outside seating area, which is a perfect place to enjoy al fresco dining in the summer months, whilst admiring the breathtaking vistas across the bay and providing further potential for expansion.

There is scope for enhancing the venue potentially being a great place for wedding receptions and private parties, should a new owner wish to diversify the venue's potential and build on the existing business model.

The sale of this commercial property could also be sold with a beautiful three-bedroom modern residential property located on the outskirts of the town, also enjoying superb sea views and low maintenance gardens, as well as a garage and driveway.

Any purchaser of the restaurant itself will need to source commercial financing independently and also instruct a commercial conveyancer to act on the purchase.

What the Owner says:
Over the last 10 years Ventnor has evolved to become a popular tourist venue, with a range of individual eateries, boutique shops and an eclectic mix of bars and public houses. The promenade leads from the sheltered shingled beach and Marina in Ventnor Bay to the quieter neighbouring village beach front of Bonchurch, a perfect serene retreat even in the height of the summer.

The Ventnor Fringe Festival has also become a real attraction to locals and visitors, putting the Victorian town firmly on the map, hosting a week of entertainment, during the month of July, attracting people to take part in or be entertained by a huge range of comedy, theatre, music and arts in a range of unusual venues dotted around the town.

Room sizes:

• Commercial Kitchen 33'11 x 12'9 (10.34m x 3.89m)
• Cellar
• Store Room
• Shower Room
• Utility Room

• Restaurant 27'0 x 12'3 (8.24m x 3.74m)
• Restaurant Extension 13'7 x 13'2 (4.14m x 4.02m)
• Bar Area 18'9 x 14'8 (5.72m x 4.47m)
• Public Toilets x 3
• Seating Terrace

The information provided about this property does not constitute or form part of an offer or contract, nor may it be regarded as representations. All interested parties must verify accuracy and your solicitor must verify tenure/lease information, fixtures & fittings and, where the property has been extended/converted, planning/building regulation consents. All dimensions are approximate and quoted for guidance only as are floor plans which are not to scale and their accuracy cannot be confirmed. Reference to appliances and/or services does not imply that they are necessarily in working order or fit for the purpose.

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Council Tax band: A

Tenure: Leasehold

Annual ground rent: £ 50

Annual service charge: £ 3000

Years remaining on lease: 979

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