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Restaurant for sale

Lakes Restaurant & Takeaway, 5-7 Bank Street, Keswick, CA12 5JY

Offers in Region of £139,950

Property Description

Commercial information

  • Business for sale
  • Use class orders: A3 Restaurants and Cafes and A5 Hot Food Take away

Full description

Tenure: Leasehold

The Lakes Restaurant and Takeaway occupies a prominent trading position just off the main street in Keswick's busy retail area. Originally opened as a takeaway, the 45 seat restaurant was added subsequently in the adjacent retail unit for which it was ideally suited for ease of operation. Additionally, there is plenty of rumbling and preparation space, as well as rear delivery access.

Keswick occupies a superb location on the shores of Derwentwater The Queen of The Lakes. Nestling in the jaws of Borrowdale England's most beautiful valley it is the hub of the northern area of the Lake District National Park. A delightful market town with history going back to Neolithic times, attested by the stone circle at Castlerigg which pre-dates Stonehenge. The town attracts a high level of visitors throughout the year as it is a centre for walkers to enjoy the area, so written about by Alfred Wainwright. Visitors are augmented by a significant number of festivals including the 3 week Religious Convention, Jazz and Beer Festivals as well as Word on The Water, The Film Festival and the recently added Walking Festival also add significant visitor numbers.

The present owners acquired the original takeaway business in 1997, adding the restaurant in 2006. Throughout their ownership, they have significantly moved the business forward not only substantially refurbishing the business but also establishing an excellent reputation with locals and visitors alike for the quality of their food. Having enjoyed their years in Keswick, the owners are now looking to retire from the catering industry.

THE PROPERTY

The business occupies the ground floor only of a two storey building of rendered construction with a pitched slate roof.

PUBLIC AREAS

TAKEAWAY - Having a recessed doorway, serving counter and back counter area, all with non-slip flooring, suspended ceiling and concealed lighting. Side seating area (particularly used during winter low turnover periods).

RESTAURANT - Attractively laid out to seat up to 45. Separate entrance with recessed doorway. Suspended ceiling and concealed lighting. Servery with non-slip flooring.

SERVICE AREAS

Preparation kitchen with non-slip floor and fluorescent lighting. Tiled walls and comprehensively equipped including Mallinson of Oldham ''3 Pan Island Range''. Rear hallway. External potato rumbling/chipping room and tiled floor. Dry goods store.

OUTSIDE

Rear vehicular access to the storage/rumbling facilities for deliveries.

SERVICES

Allerdale District Council at Workington (01900) 326333.
Mains water, drainage, electricity and gas.

TENURE

The Lakes Restaurant and Takeaway is offered with the benefit of a new 15 year lease with 3 yearly rent reviews on a Full Repairing and Insuring Basis at an initial rent of 25,000 per annum.

Please note that the in-going tenant will be responsible for the solicitors' fees in respect of the preparation of the lease.

PRICE

Offers around 139,950 are invited for the leasehold complete with goodwill and trade contents (according to inventory), but excluding personal items. Stock at valuation.

TRADE

Certified accounts from the owners' Chartered Accountants show trading profits (before finance costs, rent and depreciation) of 81,762 on (net of VAT) turnover of 177,518 for the year ended 31 July 2015.

FINANCE

Colliers International is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved.

TO VIEW

All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.


Energy Performance Certificates (EPCs)

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