Restaurant for sale

Fore Street, Tiverton, Devon, EX16

£99,950

Property Description

Full description

Tenure: Leasehold

LOCATION
In a prime town centre trading position, the entrance from Fore Street adjoins Boots the chemist on one side and an Estate Agency on the other. The property lies opposite Boots Opticians and can be accessed from Beck Square public car park from the rear.
Tiverton is located in the heart of Devon, approx. 14 miles North East of the county's city of Exeter. Nearby towns include Cullompton, which is 9 miles away and Crediton which is 15 miles. Tiverton is accessed via the junction of the North Devon link road A393. The link road also connects Tiverton to the M5 motorway at junction 27, and to the north to Barnstaple. The A393 links to Exeter and Minehead. Tiverton also has the benefit of a railway link at Tiverton Parkway, approx. 4 miles outside of town which links to the main national railway network. The town lies on two beautiful rivers The River Exe and the River Lowman, which joins south of the town centre. The town also has a canal and a number of important landmarks such as Cranmore Castle, St Peters Church, Tiverton Castle and has a well-known history in the traditional cloth and lace industry.

THE PROPERTY
We are instructed by the current leasehold owner of The Madhatters Café Bar & Restaurant, to offer part of the ground floor and upper floors of this Grade II listed deceptively large, terraced commercial property. The property backs on to a large car park, with access to the rear through a sunny sided tea garden with 48 seats. The property benefits from a large basement with potential to develop into a cellar/bar, which would require planning permission. The town centre ground floor access to the entrance hallway, leads to the main inner restaurant, which can accommodate 48 customers and service counter. The first floor comprises of the commercial kitchens, of which there are two. And on the upper floors there are 3 bedrooms, a kitchenette, owner's lounge and shower room/WC. The property benefits from gas fired radiator central heating.

TENURE
We are informed that the premises are to be held on the balance of a 21 year lease, from 1998, which was extended further to the 7th of October 2027. The current rent payable is £12,500 per annum, for the restaurant and accommodation.

AGENTS NOTE
It should be noted that the property does not have use of the ground floor to the front, which is occupied by an Estate Agency, who also occupy the first floor rooms to the front. Otherwise the property is as stated a Grade II listed building and the business is available in a confidential manner. As such we would ask clients to respect this fact and do not make direct approaches to staff or owners. Please contact the sole selling agents at Webbers Commercial from Barnstaple.

THE BUSINESS
The business has been long established in the town centre as a well-respected restaurant for the last 25 years, with the benefit of an attractive sunny south facing tea garden to the rear. The business is operated by a husband and wife team with 4 staff, if and when required. The current business operates as a traditional and European style restaurant, well supported by locals and tourists alike. The opening hours are: 9.30 am - 3 pm Monday to Thursday, 9am - 3pm Friday to Saturday, and they are Closed on Sundays. These opening hours could be extended further with the potential for Sunday lunches and also evening hours if required. We are advised the current turnover is in the region of £130,000 per annum, the full details of the accounts and a copy of the lease can be made available to those seriously interested parties who have inspected the business. There is ample scope to increase trade further.

The accommodation briefly comprises:

GROUND FLOOR 
Approached from the main street.

LONG HALLWAY 
Giving access to

MAIN RESTAURANT 
9.07m X6.8m - With self-service counter, electric till, refrigerated cake display cabinet, freezer, glass washer, drainer, sink unit, cappuccino/ coffee machine etc. Wall lights and centre ceiling fans, part panelled walls, views over the rear garden and door to

REAR GARDEN 

STAIRS TO FIRST FLOOR LANDING 

GENTS CLOAKROOM 
With toilet, wash hand basin and extractor fan

LADIES CLOAKROOM 
With toilet, wash hand basin and extractor fan

STAIRS TO PRIVATE ACCOMMODATION 
Half landing leading to

COMMERCIAL KITCHEN 
5.18m x 2.92m

SECOND AREA 
4.11m x 3.68m
This kitchen is comprehensively equipped subject to trade inventory.

PRIVATE QUARTERS 

LARGE CENTRAL LANDING 
With radiator and built in cupboard

PRIVATE LOUNGE 
6.65m x 2.51m
With radiator and feature fireplace

INNER LANDING 
With walk in cupboard

BEDROOM ONE 
6.65m x 2.51m
Currently used for a private office with radiator

REAR LANDING 

SHOWER ROOM/WC 
With corner shower unit, fitted Triton shower, upright towel rail, large vanity wash hand basin, tiled walls and laminated flooring.

PRIVATE SMALL KITCHEN 
With deep clean sink unit, solid wood work surfaces, with fridge and dishwasher, tiled walls, eye level double oven and grill, electric hob and fan over. Full level concealed electric fan heater and under cupboard concealed lighting.

BEDROOM TWO 
4.17m x 3.05m
With radiator and countryside views

BEDROOM THREE 
4.88m x 3.56m
With radiator and countryside views

OUTSIDE 
As described as above, the property has a door to the main street in the centre of Tiverton, and is approached through the hallway to the rear. The steps lead down to the main restaurant going out to a level gravelled park patio terrace area tea garden with seating for 48 customers. Beyond this is a pergola fence and gates give access to main public short stay car park in the town centre. This car park is close to the museum and is ideal for the passing trade. In addition to the rear garden, access is gained five steps to large cellar area with 4 large rooms and high ceilings. This area is ideal for refurbishment indoor cellar bar subject to obtaining the usual building regulations and planning consent.

VAT 
We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of HMRC

VIEWING 
Strictly by appointment through the selling agents.

RATEABLE VALUE 
As described as above, the property has a door to the main street in the centre of Tiverton, and is approached through the hallway to the rear. The steps lead down to the main restaurant going out to a level gravelled park patio terrace area tea garden with seating for 48 customers. Beyond this is a pergola, with fence and gates that give access to main public short stay car park in the town centre. This car park is close to the town museum and is ideal for the passing trade. In addition from the rear garden, access is gained five steps to large cellar area with 4 large rooms and high ceilings. This area is ideal for refurbishment of an indoor cellar bar subject to obtaining the usual building regulations and planning consent.

COUNCIL TAX BAND 
B

WEBBERS DO NOT JUST SELL HOUSES 
Established over 40 years ago our dedicated specialist Commercial Department deals in the sale and letting of all types of commercial property including Guest Houses, Hotels, Restaurants, Pubs, Holiday Complexes, General Businesses, Post Offices, Retail Businesses of all kinds, Shops, Offices, Investments and Industrial Premises. If this property does not suit visit our web site www.webberscommercial.co.uk or call our office on 01271 347888. For out of hours call our mobile number 07967 385228.

WANT TO KNOW MORE? 
We recognise that buying a property is a big commitment and, therefore, recommend that you visit the local authority website (contact the branch for details) and the following websites for more helpful information about the property and local area before proceeding. www.environment-agency.gov.uk www.landregistry.gov.uk www.gov.uk/green-deal-energy-saving-measures www.homeoffice.gov.uk www.ukradon.org www.fensa.org.uk www.nesltd.co.uk http://list.english-heritage.org.uk

More information from this agent

Nearest station

  • Tiverton Parkway (5.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Webbers Property Services, South Molton

The Square, South Molton, Devon, EX36 3AQ

01769 757005 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Tiverton Parkway (5.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Webbers Property Services, South Molton

The Square, South Molton, Devon, EX36 3AQ

01769 757005 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference SOU160121. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Webbers Property Services, South Molton. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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