Restaurant for sale

9-11 Mill Stree, Kingsbridge, Devon, TQ7


Property Description

Commercial information

  • Business for sale

Key features

  • Well Presented Restaurant in Popular South Hams
  • Prominent Trading Position
  • Main Restaurant (60) plus Bar & Waiting Area
  • Enclosed Rear Courtyard Garden (38+), Car Park (3)
  • 3 Bedroom Owners Accommodation
  • Excellent Catering Opportunity with Potential

Full description

Tenure: Leasehold

THE PROPERTY An Indian restaurant has traded from these premises for over 10 years, and Kerala Restaurant is a well regarded licensed Indian restaurant which trades on a predominantly evenings only basis and which is well presented throughout and also benefits from a spacious family sized owners apartment. The characterful property is Grade II Listed and is purpose fitted and equipped as an Indian restaurant and takeaway and offers potential for incoming operators to purchase a fully equipped and popular business or alternatively the opportunity to develop their own style of trade to suit their own personal requirements and take advantage of a prominent and busy trading position. The property briefly comprises:- attractive ground floor airconditioned Restaurant and Bar Area comfortably seating 60 customers; Commercial Catering Kitchen with various ancillary and welfare facilities; Al Fresco Courtyard Area comfortably seating 38 plus customers; spacious and self-contained family sized Owners Accommodation with 3 Bedrooms, Sitting Room, Toilet and Separate Shower Room; Parking Area for 2/3 vehicles.

SITUATION Kerala Restaurant occupies a prominent and visible trading position opposite the Quay Car Park fronting a busy main arterial route through the town of Kingsbridge. Kingsbridge is a market town and tourist hub in the South Hams district of Devon with a population of approximately 5,800 people. It is situated on the northern end of the Kingsbridge Estuary, which extends to the sea 6 miles south of the town. Kingsbridge provides an excellent range of shops, health centre, 2 supermarkets, leisure centre, library, schools and churches. Close by there are moorings, quays and slipways at the head of the Kingsbridge/Salcombe Estuary. The area has an abundance of sandy beaches and clifftop walks with the popular sailing towns of Dartmouth and Salcombe within easy reach. Kingsbridge is 13 miles south of Totnes, 40 miles south west of Exeter and 20 miles east of Plymouth.

INTERNAL DETAILS Entrance door to front into Entrance Lobby with door into Main Restaurant an attractive dining space with various areas which would lend itself to alternative cuisines and being air-conditioned with carpeted flooring, range of free standing high backed leather chairs, free standing tables, banquette style booth seating, feature lighting and comfortably seating 60 customers. Double doors to rear courtyard garden. Predinner drinks and takeaway Customer Seating Area for around 8 customers. Bar Servery being a timber fronted and granite topped corner bar servery fitted with a range of back bar fittings to include Altro flooring, EPOS touch screen cash register with printer link to kitchen, stainless steel sink unit, coffee filter machine, under counter fridge, open shelving, display shelving. Ladies & Gents WCs. Waitress Area with glass fronted upright bottle fridge, plate warmer and ice cream freezer. Commercial Kitchen with Altro flooring, tiled and stainless steel clad walls, extractor system with stainless steel canopy over, tandoori oven, twin floor standing deep fat fryer, 15burner range with 2 ovens below, 2 warming cabinets, upright glass fronted fridge, lit serving gantry, stainless steel hand basin, twin deep bowl stainless steel sink unit, chest freezer, commercial microwave oven, stainless steel wall shelving. Store Area with tiled flooring and tiled walls, chest freezer, racked shelving, 2 glass fronted upright fridges.

Please note: The fittings, equipment and services listed have not been tested by the agents, although we are informed that all items are in working order.

PRIVATE ACCOMMODATION The owners apartment is predominantly situated on the first floor with a ground floor shower room and is accessible from the kitchen or with its own separate independent access to the front. The spacious family sized accommodation briefly comprises:- Ground Floor Shower Room, large Sitting Room, 3 Good Sized Double Bedrooms and a first floor Toilet with wash hand basin.

EXTERNAL DETAILS To the front is a Forecourt Seating Area for around 8 customers. To the rear is an Enclosed Private Patio Courtyard Seating Area with al fresco dining opportunities for around 30 plus customers. There is also a Parking Area for 2/3 vehicles to the side of the property and a bin store area.

THE BUSINESS Kerala Restaurant is a busy Indian restaurant with an excellent reputation located in a sought after Devon estuary town. The business boasts a prominent trading position and serves a popular Indian menu to eat in or takeaway. The emphasis is on fresh local and seasonal produce with a traditional Indian menu with a contemporary twist. The business has its own website which provides further background and information about the business. The business trades on deliberately restricted opening hours and there is a wealth of potential to extend the opening hours to include regular lunchtime openings, for which demand exists. The sale of Kerala Delicacies represents an opportunity to purchase a well established and well regarded business in a prominent and visible trading position with genuine potential to increase all aspects of the trade still further.

TRADING INFORMATION We are advised that turnover is in the order of £120,000 per annum and that around 60% of the trade is derived from the restaurant whilst 40% of the trade is accounted for by takeaways and deliveries. Further accounting information can be made available to interested parties following a formal viewing appointment.

OPENING HOURS The business trades from midday until 2:00pm on Saturdays and from 6:00pm until 10:00pm Monday to Thursday and from 6:00pm until 10:30pm on Fridays and Saturdays. The business is closed on Sundays and every other lunchtime apart from Saturdays.

CURRENT STAFFING The business is run by our client with a team of staff, however we are informed that the business will be sold with no staff obligations, if so wished.

POTENTIAL Our client advises that there is potential to develop many aspects of the business still further, particularly by increasing the opening hours to include lunchtimes and Sundays. There is also the potential for incoming operators to develop their own style of cuisine and trade in a manner to suit their own personal requirements and take advantage of this well presented business in a prominent and visible trading position and highly desirable area. The sale of this business represents a rare opportunity to acquire a licensed restaurant premises with spacious family sized owners accommodation, the like of which rarely comes with a business of this nature. An early appointment to view is recommended in order to fully appreciate all that this quality catering business has to offer.

EPC Listed building and therefore exempt.

RATING For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website

SERVICES All main services are connected to the subject property.

PRICE & TENURE £25,000 for the valuable leasehold interest as a going concern business and full trade inventory. Wet and dry stocks to be additional at valuation. Vacant possession upon completion.

We are advised that the business is held on the residue of a 40 year lease which commenced in 2015 at a current rent of £25,000 per annum. Further details available upon request.

VIEWINGS Strictly by appointment with the vendors Sole Selling Agents.Tel:(01392) You are recommended to contact us before visiting the property even for an informal viewing. We can then confirm whether or not it is still available.

FINANCE An early discussion about finance can often save time and disappointment. If you would like independent specialist advice on funding this property or any other purchase, we recommend you contact us for a list of our approved brokers.

More information from this agent

Nearest station

  • Ivybridge (9.5 mi)
Distances are straight line measurements from centre of postcode

Map & Street View

Nearest station

  • Ivybridge (9.5 mi)
Distances are straight line measurements from centre of postcode

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