Cafe for saleGrants of Castlegate, Castlegate, Penrith, CA11 7HY
Offers in Region of £350,000
- Business for sale
- Use class orders: A3 Restaurants and Cafes
54 Castlegate started life in the 1830s as the Lowther family's ''townhouse''. With the expansion of Penrith's town centre the premises' central location was soon recognised as it became a retail shop including a printers, shoe shop and tea room as well as an art gallery before becoming a restaurant in the 21st Century. A lovely character property standing on the fringe of Penrith's retail area, the restaurant combines a modern contemporary feel with the character you would expect in a market town like Penrith and is fully equipped to the highest standard as well as having a separate and self contained apartment for either resident owners or staff.
The Eden Valley is an exhilerating mix of vibrant communities, stirring landscapes and relaxing rural tranquility and at its heart lies the historic market town of Penrith. Travellers from Roman times to the days of the construction of the M6 Motorway have enjoyed its hospitality but it is best known as being the northern ''Gateway to The Lakes''. Indeed, the Lake District National Park is certainly the best known rural tourism destination in the country attracting many thousands of tourists over an ever-increasing holiday season and it is these visitors as well as the wider local community which form the backbone of the trade at Grants of Castlegate.
The property was acquired by the present owners in 2004 and they immediately set about a complete re-modelling and refurbishment at a cost of £100,000 to form ''Grants of Castlegate''. They added the conservatory-style extension to the restaurant area as well as forming a completely new catering kitchen and since opening have established an excellent reputation for good quality food and service. Having enjoyed their time at 54 Castlegate, the owners now intend to retire.
Built of local Eden sandstone and with a slate roof, the accommodation is laid out on ground and two upper floors.
Loonge/bar area with tiled floor and set to seat 20 very comfortably. Steps up (with disabled chair lift) to the restaurant to seat 22 and having a tiled floor and incorporating a conservatory extension. Bar servery in a modern overhang-style. External al fresco dining area (8-10).
Separate self contained flat comprising of lounge, kitchen with a range of fitted units. Double bedroom with beamed ceiling and bathroom. Store which could be used as an office or second bedroom.
Spacious and ergonomically laid out catering kitchen with non-slip floor. Canopy and extraction as well as fluorescent lighting. Further prep. kitchen.
Side/rear storage area. Cellar.
Eden District Council at Penrith (01768) 864671.
Mains water, drainage, electricity and gas. Gas-fired central heating to the ground floor. Predominently double glazed.
Certified accounts as provided by the owners' Chartered Accountant in the form of a Trading and Profit and Loss Account show trading profits (before finance costs and depreciation) of £26,220 on (net) turnover of £113,932 for the year ended 30 April 2008.
Please note that the business is closed on both Mondays and Tuesdays.
Offers around £350,000 are invited for the freehold complete with goodwill and trade contents, but excluding personal items. Stock at valuation.
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.
All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.
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