2 bedroom takeaway for sale

Tiverton, Devon

£355,000

Property Description

Commercial information

  • Business for sale

Key features

  • Eye catching town centre trading position
  • Large immaculately maintained 4 storey property
  • 2 bedroom self contained maisonette which can be let
  • Business well known and regarded throughout area
  • Sales 232,683 ex Vat, proves highly profitable
  • Easily accessible, fronts busy pedestrian & vehicle thoroughfare
  • Same ownership 30+ years - retirement sale
  • Serving traditional Fish & Chip menu
  • Regular repeat custom from local community and surrounding villages
  • EM&F reference number: CFZ34083N

Full description

Tenure: Freehold

Description: A renowned traditional Fish & Chip shop, well known and respected throughout the area, under current ownership in excess of 30 years, enjoying regular all year round trade. Contained within eye catching very well presented and maintained premises with no major expenditure considered necessary. Extending over 4 levels, providing main takeaway area containing modern 3 pan KFE counter range, installed in recent years, preparation room, potato room, storage area and staff cloakroom. Above the business premises can be found a modern 2 bedroom maisonette which includes fitted kitchen, sitting room, shower room and utility area, would suit owners or can be rented out to provide additional income. Such is the highly visible easily accessible trading position a great deal of local trade is enjoyed together with some passing trade.

Location: Occupying a prominent trading position on the edge of Tiverton town centre, fronting the main pedestrian and vehicle thoroughfare through the town, linking the Tesco supermarket and its large free restricted stay car park with the town centre ensuring substantial pedestrian foot flow. Additional free on street car parking could be found close by together with bus stops and other popular businesses which at the time of our inspection included a beauty salon, clothing retailer, delicatessen, gallery and lifestyle store, a number of national retailers are only a short walk away. Despite the town centre trading position the business enjoys a pleasant leafy aspect, overlooking Lowman Green, an attractive pedestrianised piazza with public seating around the centrepiece historic Lowman Green Clock Tower, in turn Lowman Green sits on the banks of the River Lowman with further seating areas.

Area: Tiverton is the largest town in Mid Devon, situated on the River Exe, renowned for the highly regarded Blundells school, host to a substantial resident population, the subject of numerous new housing developments in recent years with further planned, drawing trade from the many surrounding villages and hamlets, benefiting from mainline railway station and motorway access at junction 27 of the M5 ensuring the regional capital, The City of Exeter, which lies approximately 16 miles away is easily reached. The town is ideally placed to reach both the North Devon and South Devon coasts, Exmoor and Dartmoor National Parks together with numerous attractions to include Bickleigh Castle, Bickleigh Mill and Killerton House.

Premises: Attractive wooden framed glazed single frontage, half glazed wooden customer entrance door opening to the RECEPTION AREA, non-slip flooring, suspended ceiling with inset lighting, benefiting from air conditioning. Fitted with full width SERVERY COUNTER, incorporates modern KFE 3 pan counter range installed in 2015, wrapping station to include touch screen till and credit/debit card machine, menu board above. Well-designed FRYING AREA behind, easy wipe cladding to the walls, fitted with stainless steel inset hand wash basin and wall storage shelving, contains stainless steel upright fish keep, fridge and freezer, glazed front upright drinks chiller and commercial microwave oven. Adjoining PREPARATION ROOM, also accessed from the reception area, fitted with commercial deep bowl stainless steel sink unit, stainless steel counter and hand washbasin, contains 3kw induction hob, further commercial microwave oven and batter mixer. Stairs to LOWER GROUND FLOOR, provides STORAGE ROOM, contains 3 chest freezers and storage racking, fitted with stainless steel sink/draining unit and waste disposal unit. The storage room benefits from delivery hatch to pavement level ensuring easy delivery of potatoes, the adjoining POTATO ROOM provides potato pallet storage, also contains rumbler and chipper. A staff CLOAKROOM can be found at first floor level, fitted with toilet, hand washbasin and hot water boiler.

(None of the above appliances/systems have been tested and a purchaser must satisfy themselves as to the serviceability of these.)

Accommodation: Situated above the business premises, totally self-contained, can be owner occupied or rented out as is currently the case generating rental income of £450 per month to include nearby car parking space. Private entrance door to the side of the business premises, opens to LOBBY, useful inter-connecting door with business premises, stairs to FIRST FLOOR and LANDING AREA where main entrance door to the flat is situated, opens to KITCHEN AREA, sash window providing pleasant front aspect, fitted with range of modern work counters, base and wall storage units, breakfast bar, stainless steel sink/draining unit, integral oven, hob, extractor and fridge.Open plan SITTING ROOM, also with sash window providing pleasant front aspect, fitted storage cupboard. Stairs to SECOND FLOOR and LANDING AREA, houses airing cupboard with hot water tank, also benefits from UTILITY AREA with sufficient space for automatic washing machine and tumble dryer. Leading off, BEDROOM 1, a double with front aspect, BEDROOM 2, a single with front aspect, SHOWER ROOM, part tiled, fitted with shower cubicle, hand washbasin and toilet.

Outside: The vendor rents a CAR PARKING space nearby which can be made available to new owners if required.

Business: Acquired by the vendors in 1987, during this time considerable investment has been made in the premises, only now offered for sale in order to pursue retirement. Operating as a Fish & Chip takeaway, serving a traditional menu of fish, chicken portions, sausages, pies, burgers and chips together with various accompaniments and soft drinks. Such is the length of time established the business is well known, an excellent reputation is maintained ensuring regular repeat custom from the local resident community, surrounding villages and visitors to the area.

Trading Hours: The business trades Monday to Saturday lunchtimes 11.45am through to 1.30pm, closing at the slightly later time of 1.45pm on a Saturday, evenings 5.00pm through to 9.00pm. Closed all day on a Sunday and Bank holidays.

Staff: The business is operated as a partnership, only one of the partner's works in the business, typically only 3 days a week, the business operated by staff the remaining of the time, 1 full time member of staff and 4 part time members of staff employed.

Takings: Trading performance is impressive, the business proving highly profitable, even with only one of the owners working in the business on a part time basis. In respect of the financial year ended 31st January 2019 Sales amounted to £232,683 ex Vat returning a Gross Profit of £141,490 equating to 61%. Should new owners work in the business on a full time basis then it has been calculated Net Profits in excess of £100,000 would be achievable albeit the business still proves most profitable based on the current predominantly staff operated basis and low opening hours, offering new owners a number of options.

Comments: The sale of the Penguin Fish Bar provides an opportunity to acquire a renowned fish & chip shop, in existence and under current ownership a considerable number of years, proving highly profitable. New owners will benefit from prime positioned trading premises, maintained and presented to the highest of standards, with the added benefit of accommodation.

Tenure: Freehold.

Rates: Currently 'Nil' after 100% rate relief.

Price: £355,000 for the benefit of the Freehold, Goodwill, Fixtures, Fittings & Equipment (according to inventory) plus stock at valuation.



More information from this agent

Energy Performance Certificates (EPCs)

Nearest station

  • Tiverton Parkway (5.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

EM&F , Devon

3 Cornhill, Ottery St. Mary, EX11 1DW

01404 606038 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 (5.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

EM&F , Devon

3 Cornhill, Ottery St. Mary, EX11 1DW

01404 606038 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 CFZ34083N. 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 EM&F , Devon. 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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