Restaurant for sale

Moorish Restaurant, West Street, Ashburton, Devon TQ13

£475,000

Property Description

Commercial information

  • Use class orders: A3 Restaurants and Cafes

Key features

  • Successful Licensed Restaurant & Café Bar
  • Situated in Vibrant Town Centre
  • Main Restaurant & Bar Area (36)
  • Self-Contained 3 Bed Accommodation
  • Impressive Levels of Trade & Profits

Full description

Tenure: Freehold

THE PROPERTY
Moorish Restaurant is set within an attractive Grade II Listed period building and is presented to an extremely high standard throughout having been the subject of a fastidious programme of refurbishment and improvement by our clients during their 12 years of ownership. Moorish Restaurant is renowned for its ambience, character and warmth with a rustic Mediterranean theme set within a superior trading environment. This high quality licensed restaurant and cafe bar briefly comprises:- Main Restaurant Seating Area comfortably seating 36, feature Bar Servery, and fully equipped Commercial Catering Kitchen with ancillary and welfare facilities. The business is enhanced by the well presented and self-contained family sized living accommodation with private independent entrance, 3 Double Bedrooms (1 en-suite), large Sitting Room, attractive Kitchen/Dining Room, Family Bathroom, Separate Cloakroom/WC, Utility/Laundry Room and spacious office space. Moorish Restaurant is a highly regarded and extremely well presented quality licensed restaurant and cafe bar and a viewing is strongly recommended in order to fully appreciate the exceptional quality and standards inherent throughout all aspects of this flexible business and property.

SITUATION
Moorish Restaurant occupies a prominent trading position within the heart of the thriving moorland town of Ashburton. Ashburton is an appealing and popular ancient stannery town set on the southern edge of the Dartmoor National Park which has a wide range of amenities including many independent stores including a delicatessen, a fish deli, an artisan bakers, the renowned Ashburton Cookery School and a huge range of antique shops that make the town a most popular destination. It also benefits from well regarded schools, medical and dental services and a strong thriving community. The endless list of recreational opportunities within Dartmoor National Park, the proximity to South Devon's finest beaches, golf courses and excellent transport communication links with immediate access to the A38 Devon Expressway, all make Ashburton a highly desirable location. The A38 Devon Expressway provides excellent transport links to the Cathedral and University City of Exeter (20 miles), and the historic naval port City of Plymouth (25 miles). With links to the M5 motorway at Exeter and the A30, there are regular rail services to London from Newton Abbot and Totnes.

INTERNAL DETAILS
THE RESTAURANT
Part glazed entrance door to front with dual aspect sash windows to the front and side into Main Restaurant & Cafe Bar Area an attractive character room tastefully furnished and decorated throughout in a rustic Mediterranean theme with ceramic tiled flooring, part wood panelled walls, wall mounted menu boards, feature fireplace with gas stove, exposed upright timbers, feature wine racking, feature lighting throughout, range of free standing wooden tables and chairs comfortably seating 36 customers. Substantial Customer Bar Servery with Preparation Area to the rear, range of base cupboards and shelving, worksurfaces, double glass fronted bottle fridge, stainless steel sink unit, commercial glasswasher, coffee machine and coffee grinder (on free loan), wall shelving and stainless steel racked shelving unit. Open plan through to Inner Hall/Passageway with part exposed stonework, Ladies & Gents WCs, Bottle Store and pedestrian side entrance. Commercial Catering Kitchen being open plan and theatre style with Altro flooring, and fully tiled walls and being fully equipped to an extremely high standard with a comprehense range of commercial catering equipment to include:- extractor system with stainless steel canopy over, 6-burner gas range, electric oven with eye level grill, range of stainless steel workbenches with shelving below, large tile topped Servery Area, upright fridge, 2 under counter fridges, stainless steel hand basin, 2 microwave ovens, Wash-Up Area with commercial dishwasher, twin deep bowl stainless steel sink unit. Walk-In Pantry/Store Room with Altro flooring, extensive shelving, upright freezer and fridge freezer.

LIVING ACCOMMODATION
Accessed via its own self-contained private entrance door to front and with lockable interconnecting door to the restaurant for convenience. A real feature of this business is the impressive and flexible expansive character owners accommodation which has been the subject of comprehensive modernisation by our clients and this high quality and the substantial owners home briefly comprises:- large panelled door at street level to the front opening into Entrance Vestibule leading into Inner Hallway with terracotta fired earth flooring, sash window, extensive Storage Cupboards, wide staircase with feature balustrades rise to the Landing with further stairs to the second floor. Landing Hall with ornate archway and carved ornate timberwork leading through to Sitting Room a most impressive large and welcoming space with wonderful character features, ceiling rose and cornice, feature fireplace with panelling above and beside, large cabinet and feature arch recess, sash windows to the front and outlook over the town. Kitchen/Dining Room another attractive space with bespoke kitchen, having attractive timber worksurfaces, inset ceramic sink unit and stainless steel range oven with 5-burner hob and sash windows to front overlooking the town. Utility/Laundry Room. Cloakroom/WC. The accommodation on the second floor is also spacious and attractive with the landing having a feature balustrade. Master Bedroom a good sized light and pleasant room with 2 windows to the side, built in wardrobe and En-Suite Bathroom with modern white suite and shower over bath. Bedroom 2 again a light and pleasant good sized double bedroom with windows to front and views over the town and surrounding countryside and built in wardrobe. Bedroom 3 again another light and pleasant good sized double bedroom with windows to front having pleasant outlook over the town and surrounding countryside and built in wardrobe. Large Family Bathroom with modern white suite and shower over bath. From the corridor leading from the landing, a door and fixed steps lead up to a large open part-boarded Attic Space with potential for further accommodation (subject to the usual consents).

THE BUSINESS
Moorish Restaurant is a quality licensed restaurant and cafe bar specialising in Mediterranean style cuisine with a menu which offers regularly changing freshly prepared food, with the best seasonal local produce which the area has to offer. Our clients run the business as a daytime cafe and restaurant with a more formal evening licensed restaurant. This high quality catering business is well regarded and boasts an impressive reputation, having been established around 12 years ago by our clients. The current opening hours are between 9:30am and 2:30pm and 6:30pm until 10:30pm from Tuesday to Saturday, with a breakfast and daytime cafe menu complementing the evening restaurant and bar menu. The business is closed all day on Sunday and Monday and during the winter months these opening hours are further reduced with the restaurant being closed on Tuesday and Wednesday evenings. Moorish Restaurant has been extrensively refurbished and renovated to high standards by our clients during their ownership. Our clients source all of their produce locally wherever possible, and all food is freshly cooked to order. This attention to detail ensures that the business enjoys excellent levels of regular repeat trade, not only from Ashburton, but the surrounding villages and towns, together with a boost from tourists visiting the area. These qualities and standards have resulted in the business receiving numerous excellent reviews on TripAdvisor. The business has its own website www.moorishrestaurant.co.uk which provides further background and menus and is included within the sale. The business also has an active Instagram and Facebook social media accounts with numerous followers and also benefits from a 5 Star Food Hygiene rating. Moorish Restaurant is undoubtedly a very special place to live and work and a formal viewing is essential in order to fully appreciate all that this high quality business and property has to offer. For anyone looking to relocate to the Westcountry, this could be the perfect opportunity to run a profitable lifestyle business, with a comfortable family sized home and simply stunning countryside on the doorstep.

TRADING INFORMATION
Accounts for the year ending 30 April 2016 show sale of £169,422 excluding VAT with a gross profit of 68.9% being achieved. Our clients close for 3 to 4 weeks of holidays annually each year. Full detailed trading information can be made available to interested parties following a formal viewing appointment.


CURRENT STAFFING
The business is run by our clients with up to 7 part-time members of staff being employed.

EPC
Listed property and therefore exempt.

POTENTIAL
The sale of Moorish Restaurant provides an excellent opportunity to purchase a thriving, profitable and well regarded restaurant business with impressive family sized owners accommodation within a sought after moorland town. Our clients advise that there is tremendous potential to increase the current trade levels, particulary by increasing the opening hours and by opening all day and particularly on Sundays, for which demand undoubtedly exists. There is also potential for incoming operators to develop their own style of cuisine and trade in a manner to suit their own personal requirements. The size and layout of the property would also suit various alternative uses (subject to the necessary consents) and there are also opportunities for investors looking to split the property and rent/sell the residential and the retail space separately. The sale of Moorish Restaurant represents a rare opportunity to purchase a quality licensed restaurant business combined with impressive owners accommodation, the like of which rarely comes along with a business of this nature. Coupled with this is the considerable time and money that has been spent throughout the property, offering new owners the ability to be able to move in and start trading without the need for any major expenditure.

RATING
For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website www.voa.gov.uk.

SERVICES
All main services are connected to the subject property.

Agents Note: The majority of the building is sold under a freehold title, however there is a small section at the rear of the ground floor, which is sold under a long leasehold title. Title plans can be provided to interested parties.

PRICE & TENURE
£475,000 for the valuable freehold interest as a going concern business and full trade inventory. Wet and dry stocks to be additional at valuation. Vacant possession upon completion.

VIEWINGS
Strictly by appointment with the vendors Sole Selling Agents.Tel:(01392)201262.Email:info@stonesmith.co.uk
You are recommended to contact us before visiting the property even for an informal viewing. We can then confirm whether or not it is still available.

FINANCE
An early discussion about finance can often save time and disappointment. If you would like independent specialist advice on funding this property or any other purchase, we recommend you contact us for a list of our approved brokers.



More information from this agent

Nearest station

  • Totnes (6.1 mi)
Distances are straight line measurements from centre of postcode

Map & Street View

Nearest station

  • Totnes (6.1 mi)
Distances are straight line measurements from centre of postcode

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