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Restaurant for sale

Kerala Delicacies, 1 New Walk, Totnes, Devon, TQ9

Leasehold £59,950

Property Description

Commercial information

  • Business for sale
  • Use class orders: A3 Restaurants and Cafes

Key features

  • Prominent and Well Presented Licensed Restaurant
  • Much Sought After South Hams Market Town
  • Currently Trading as an Indian Restaurant
  • Restaurants (50), Restaurant/Function Room (30+)
  • Commercial Catering Kitchen, Al Fresco Seating (20)
  • Excellent Opportunity with Much Potential

Full description

Tenure: Leasehold

Extremely prominent and well presented licensed restaurant, currently trading as an Indian restaurant but with tremendous potential to develop a trading style and for alternative cuisines. A landmark trading position in the heart of Totnes. Main Bar Restaurant (22), further ground floor Restaurant Areas (28), first floor Restaurant/Function Room (30+), Commercial Catering Kitchen, Al Fresco Seating for 20 customers. Located in the much sought after South Hams market town of Totnes in Devon and offering an excellent licensed catering opportunity with much potential.

THE PROPERTY
Kerala Delicacies trades as a well regarded licensed Indian restaurant on an evenings only basis with no lunchtime trade undertaken. Well presented throughout, the character property is Grade II Listed and is purpose fitted and equipped as a licensed restaurant and offers potential for incoming operators to purchase a fully equipped and popular business. Alternatively, there is an opportunity to develop their own style of trade to suit their own personal requirements and take advantage of the prominent and landmark busy town centre trading position. The property briefly comprises:- attractive ground floor Bar Restaurant (22); further ground floor Restaurant Areas (28); paved Patio Al Fresco Terrace to the side with seating for around 20 customers; first floor Restaurant/Function Room (30+); fully equipped Commercial Kitchen and extensive ancillary facilities.

SITUATION
Kerala Delicacies benefits from a central location in the highly sought after and historic South Devon market town of Totnes. Set amongst a parade of complementary traders, it occupies a highly visible and prominent landmark trading position on one of the town's main shopping streets. Totnes is the commercial centre for the South Hams and this part of Devon is renowned for its outstanding natural beauty with Dartmoor National Park 10 miles to the north and the stunning beaches and coastlines 10 miles to the south. The bustling medieval market town of Totnes lies on the River Dart and has a mainline railway station giving direct connection to London Waterloo. There is also excellent access to the A38 Devon Expressway, linking Plymouth and Exeter, where it joins the M5 motorway. Totnes boasts a thriving market as well as a good selection of independent retailers and the town is one of Devon's gems, full of colour and character that stems from the rich cultural, historic and archaeological heritage.

INTERNAL DETAILS
GROUND FLOOR
Customer entrance doors to front and side with entrance door to front leading into Reception Hall with tiled flooring, ornate ceiling covings, stairs to upper floors, reception desk with Seating Area for Takeaway Orders. Doors through into Main Bar Restaurant Area an attractive character room with ornate ceiling coving, feature fireplace with inset woodburning stove, wood laminated flooring, part wood panelled walls, range of free standing wooden tables and high backed leatherette chairs comfortably seating 22 customers. Door to side leading to al fresco seating area. Substantial timber fronted and topped Bar Servery with associated back bar fittings and display shelving, wall mounted menu boards, glass fronted upright bottle fridge, wine rack, coffee machine, hot water still, coffee grinder, under counter freezer, hand basin, glasswasher, double glass fronted bottle fridge, EPOS touch screen cash register with printer link to kitchen, stainless steel sink unit and CCTV monitor. Still Area with shelving, hot cupboard and PA system. Further Ground Floor Restaurant Area again an attractive character room with continuation in style and theme with ornate ceiling coving, feature fireplace (disused), wood laminated flooring, range of free standing wooden topped tables, high backed leatherette chairs and range of comfy leatherette bucket seats and sofas comfortably seating 28 customers. Rear Freezer Store with chest freezer, upright commercial freezer, stainless steel racked shelving and staff lockers. Dry Goods Store with double door commercial fridge, ice machine and storage shelving. Beer Cellar temperature controlled on the ground floor.

FIRST FLOOR
Further Restaurant/Function Room an attractive and spacious character room with windows to the front and side, two feature fireplaces (disused), wood laminated flooring, a flexible and versatile space, currently used as an overflow restaurant and for parties/private groups with a range of free standing wooden tables and chairs comfortably seating 30 plus customers and a comfortably seating area with leatherette bucket chairs and sofas. Waitress Station with display wall shelving, wine racking, upright glass fronted bottle fridge, EPOS touch screen cash register with printer link to kitchen. Commercial Kitchen with Altro flooring, wipe clean clad and stainless steel clad walls, extractor system with stainless steel canopy over and gas interlock, 9-burner hob, 2 ovens, flat top griddle, Tandoor oven, table top deep fat fryer, 3 under counter commercial fridges, under countere freezer, double upright commercial fridge, warming cabinet with lit serving gantry over, 2 microwave ovens, wall shelving, stainlesssteel racked shelving, commercial pass-through dishwasher with twin deep bowl stainless steel sink unit, stainless steel hand basin. Ladies & Gents WCs.

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.

EXTERNAL DETAILS
The property occupies a highly visible and prominent landmark trading position. To the side is a Paved Private Terraced Area providing al fresco seating for around 20 customers. To the rear of the property is an Enclosed Courtyard Storage Area with pedestrian access to the side and bin store area.

THE BUSINESS
Kerala Delicacies is a busy Indian restaurant with an excellent reputation, located in a sought after Devon riverside 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 seasonal produce with a traditional Indian menu with a contemporary twist. The business has its own website www.keraladelicacies.co.uk which provides further background 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 lunchtime openings, for which demand exists. The sale of Kerala Delicacies represents an opportunity to purchase a well established, well regarded business in a prominent 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 160,000 per annum and that around 80% of the trade is derived from the restaurant whilst 20% of the trade is accounted for by takeaways and deliveries. Full detailed trading information can be made available to interested parties following a formal viewing appointment.

OPENING HOURS
The business trades from 5:00pm until 11:00pm Monday to Saturday. The business is closed on Sundays and every lunchtime.

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.


POTENTIAL
There is tremendous potential to develop many aspects of the business still further, particularly by increasing the opening hours to include lunchtimes and Sunday opening. 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 landmark trading position and highly desirable area. Prior to being an Indian restaurant, the premises traded as an upmarket bar and brasserie. The sale of this business represents a rare opportunity to acquire a licensed restaurant premises in a sought after South Hams town and an early appointment to view is recommended in order to fully appreciate all that this business has to offer.

EPC
Listed building and therefore is exempt.

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

SERVICES
All main services are connected to the subject property.

PRICE & TENURE
59,950 for the valuable leasehold interest as a going concern business and full trade inventory. Vacant possession upon completion.

We are advised that the business is held on the residue of a 21 year lease which commenced in 2011 at a current rent of 17,500 pere annum. Further details available upon request.


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