Penmere Hill, Falmouth, Cornwall, TR11

Penmere Fish Bar is a renowned and highly successful fish & chip restaurant and takeaway in Falmouth, benefiting from a large self-contained residential maisonette above, which is accessed from the side elevation at ground floor level. The property totals approximately 2,800 sq. ft, and is arranged over three floors. In addition, the property benefits from off-road parking and a garage.

Available to purchase for the first time in over four decades, the freehold interest in Penmere Fish Bar presents a rare opportunity to acquire a renowned business with vast residential accommodation on the upper floors (which could either be lived in by an owner-operator or rented out to generate additional income). Our client has invested substantial time and resource into the business, creating what is one of the area's most popular fish and chip offerings, clearly evidenced by the financial accounts provided (available to interested parties upon request). Prospective buyers are advised to register interest without hesitation.

THE LOCATION
Falmouth is undoubtedly one of Britain's most thriving and lively towns, offering a very unique lifestyle, bustling town centre and beautiful beaches. Voted as the best place to live in the UK by readers of The Sunday Times, Falmouth offers many attractions such as Pendennis Castle, National Maritime Museum, an excellent retail offering, pubs, bars and restaurants. The combination of maritime heritage and modern creativity, largely generated via the growing university, makes the town a hugely popular spot. It is a constant carnival during the summer months, yet still energetic in the winter, offering great food festivals and sea shanties to keep all entertained. The railway line takes you to Truro in under half an hour; many beautiful areas surround Falmouth, including Flushing, Mylor and the Helford River. More specifically, Penmere Fish Bar is located at the top of Penmere Hill, close to the town and the beaches but more conveniently positioned away from the 'hustle and bustle' of the town centre. Penmere Fish Bar benefits from being more accessible by car. The business is surrounded by housing and is moments away from Penmere Railway Station - just one stop in both directions to Falmouth town and Penryn stations respectively.

THE PROPERTY
A substantial end of terrace property, with clad upper elevations and encompassed under a pitched tiled roof. The property benefits from uPVC double glazed windows throughout. The ground floor briefly comprises: shop with serving area (comprising fryers, fridges and a takeaway hatch leading to the off-road parking area), restaurant (comprising tables and chairs accommodating for approximately 30 covers), prep area and prep kitchen (comprising kitchen units, gas oven, gas hob, microwave etc), store area for additional preparing and storage, and customer WC. Access also into the garage. Benefiting from its own private external access from the side elevation at ground floor level, the maisonette, provides very spacious, light and airy accommodation, totalling over 2,100 sq. ft which briefly comprises: 3/4 bedrooms, 2 bathrooms, kitchen/dining room, and living room. Externally, there is a garage (currently used as a store) with internal access at ground floor level, in addition to off-road parking for several vehicles, currently used by customers.

THE BUSINESS
Penmere Fish Bar trades as a fish & chip restaurant and takeaway, with the restaurant providing approximately 30 covers. The residential accommodation over lends itself perfectly to accommodate 'owner operators' or to be let out, on a short or long term basis, to generate additional secure income.

The business has been owner-operated by our client and her family for over four decades and has become a renowned and busy fish & chip restaurant and takeaway within this thriving and growing town. Our client now wishes to retire. We are in receipt of the last three years' audited profit & loss accounts, which confirm turnover levels most recently at circa £300,000 per annum.

INVENTORY & STOCK
Penmere Fish Bar will be sold with the benefit of the fixtures and fittings. All the kitchen appliances and the restaurant furniture etc is owned outright by our client, not leased, and will be included in the sale.

THE TRANSFER OF UNDERTAKINGS (PROTECTION OF EMPLOYMENT) REGULATIONS 2006
No staff will transfer with the sale. The business is owner-operated by our client's family, with no third-party management company or staff employed under contract.

PLANNING & ALTERNATIVE USE
Planning Use Class E.

Subject to planning, the property might be of interest to various operators, investors and/or developers looking to convert the property/site to a variety of alternative uses, subject to the necessary planning consents.

SERVICES
We understand the property is serviced by mains gas, water, electricity and drainage.

BUSINESS RATES
The Rateable Value is £3,800 (from 1 April 2023) therefore the property benefits from 'small business rates relief' meaning no business rates are payable.

EPC(S)
Rating E for the residential accommodation. The commercial assessment has been commissioned and we therefore await the rating.

VIEWINGS & ENQUIRIES
All enquiries and viewing requests are to be made directly through Laskowski & Co Commercial. No approaches are to be made to the owner or staff at the property under any circumstances.