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Restaurant for sale

High Street, Ilfracombe, Devon, EX34

£325,000

Property Description

Full description

Tenure: Freehold

LOCATION
In a prime High Street trading position in the very heart of Ilfracombe, North Devon's leading tourist resort, the property is ideally placed for locals and holiday makers.

Ilfracombe has a population of approximately 10,500 inhabitants, boosted during the Summer months with the influx of tourists. In recent years a great deal of inward investment has been undertaken in the town including a new Tesco supermarket, a Lidl supermarket on the Sea Front and a theatre. Most recently the world famous artist, Damien Hirst, who owns a restaurant on the Quay has given on loan a statue called Verity to the local council which now stands pride of place on the Pier.

THE PROPERTY
This is a character mid-terrace commercial property parts of which date back to the 16th Century. The main property comprises, to the ground floor, an L shaped 70 seater cafeteria and licenced restaurant with adjoining Sandwich Bar. The main public area is well serviced by a preparation area and commercial kitchen and there are two cloakrooms for customers as well as a rear bakery, store and utility room.

We have been advised that the owner has installed a new central heating system and refitted the top kitchen in the restaurant in June 2013.

The private owners' accommodation is located on the first and second floor providing, to the first floor, lounge, three bedrooms, cloakroom, kitchen, dining room and bathroom w.c and, to the second floor to the rear, a split level fourth bedroom. The property benefits from parking for two vehicles and there is a rooftop patio.

THE BUSINESS
The business is that of a long established (circa 1970s) licenced restaurant under the supervision of the proprietor with 4-5 part time staff if and when required. The business opens 9am-4pm 6 days a week (closed Sundays out of choice) and trades with a turnover of approximately £190,000 per annum. Audited accounts will be made available to those seriously interested parties who have inspected the premises.

The accommodation briefly comprising:


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