Why it matters: One of the waterfront's longest-serving restaurants is changing hands, marking a significant shift in the marina's dining scene. The business goes to auction on Tuesday, 9 December at £380,000, creating an opportunity for new ownership.
The details: The restaurant, which spans two floors of a 19th-century brick warehouse with approximately 130 covers, was initially listed at £560,000 in February. The price dropped to £450,000 by August, and is now listed by Fleurets at £380,000.
The venue operates on a 125-year leasehold at peppercorn rent and holds a late-night licence until 01:00. It currently trades Wednesday to Sunday. The upper level has potential for conversion to a two-bedroom flat, subject to planning permission.
What they're saying: "After many wonderful years at The Waterfront we've decided it's time for a new adventure," Greg and Lorraine Morgan said. "Greg's parents live overseas, and being closer to them – and spending more time enjoying life, travel, and family – has become a priority for us.
"We love running The Waterfront and have made many lifelong friends, and we're proud to have contributed to the professional journey of our members of staff. Our regulars mean the world to us, and the support of the community over the last 18 years has been incredible. We are looking forward to hosting another fantastic Festive Season, both Christmas and New Year's Eve."
What's next: The venue continues to trade normally while preparing for the December auction, with Christmas and New Year's Eve bookings underway. The couple will run the restaurant through the festive period as the sale process unfolds.
The auction takes place on Tuesday, 9 December.
The bottom line: The Morgans' departure closes a nearly two-decade chapter on the waterfront, with the established venue now ready for its next owners.
