Restaurant for sale

Lynmouth, Devon

£345,000

Property Description

Commercial information

  • Business for sale

Key features

  • Attractive trading position close Lynmouth harbour/beach
  • Spacious character property extending over 4 floors
  • 34 covers, commercial kitchen, waitress area & storage
  • Owners 4 Bed accommodation with sitting room & kitchen/diner
  • Trades evenings only, ample scope daytime trade
  • Established, well respected business
  • Currently operated on lifestyle basis, approx 9 months per annum
  • Viewing recommended to appreciate size of business
  • Leasehold option also available, Price 45,000 + sav
  • EM&F reference number: R34345N

Full description

Tenure: Freehold

Description: An established and respected Licensed Restaurant considered suitable for a variety of cuisine, currently operated on a lifestyle basis, trading evenings only, approximately 9 months each year, new owners can continue to operate it on the current successful basis or may wish to develop it further through the introduction of daytime trading. Operating from deceptively spacious premises, extending over 4 floors, providing ground floor dining area, waitress area and commercial kitchen, lower ground floor overflow dining area, customer cloakrooms, laundry room, wine store and general storage room. Extending over 2 floors above the business premises is family accommodation comprising kitchen/dining room, sitting room, 4 double bedrooms to include an en-suite bathroom and additional shower room with toilet, viewing is recommended to appreciate the size of the property.

Location: Occupying a central trading position within this highly sought after famous coastal village, fronting the main tourist route, adjacent to one of the main car parks with additional on street car parking immediately in front ensuring easy access. The Glen Lyn Gorge, a major tourist attraction is only a stones throw away. Close by is Riverside Road leading down to the Esplanade and Beach together with the famous Lynmouth Cliff Railway linking Lynmouth with Lynton. The area is often referred to as the 'Little Switzerland of England' forming part of Exmoor National Park, the area is a magnet for day trippers and walkers throughout the year and has one of the longest tourist seasons in the North Devon area, located approximately 20 miles from Barnstaple in the West and 17 miles from Minehead in the East, both accessed by the A39 trunk road, a major tourist route.

Premises: Attractive wooden framed illuminated glazed frontage, glazed entrance door opening to LOBBY, inner entrance door opening to DINING AREA, carpeted, wall lights, features beams along with pew seating, freestanding tables and chairs providing 22 covers. INNER LOBBY with till point, provides access to WAITRESS GALLEY AREA, contains stainless steel work tables and storage shelving, upright glazed front wine chiller and wine bottle racking. To one end, WASH UP AREA with rear aspect, fitted with twin stainless steel sink unit and dishwasher, inter-connects with COMMERCIAL KITCHEN also benefiting from rear aspect and rear entrance door with external stairs leading down to the yard area. The commercial kitchen is professionally fitted and equipped, amongst the inventory, 8 burner cooker, griddle, grill, twin basket fryer, convection oven, hot cupboard, microwave oven, 6 pot Baine Marie, toaster, heated pass, extraction canopy, 3 upright chillers, under counter chiller, stainless steel work tables, shelving, preparation sink and hand washbasin. Return door to the inner lobby, stairs to LOWER GROUND FLOOR where the additional/overflow DINING AREA is situated (not currently utilised), offers space for a further 10 - 12 covers, leading off is a DRY/WINE STORE, useful STORAGE ROOM housing 2 chest freezers, LAUNDRY ROOM with space for automatic washing machine and tumble dryer. The lower ground floor also houses the separate ladies and gentlemen's CLOAKROOMS, each fitted with toilet and hand washbasin, a spacious REAR ENTRANCE LOBBY can also be found with own back entrance door opening to the yard area. (None of the above appliances/systems have been tested and a purchaser must satisfy themselves as to the serviceability of these.)

Accommodation: Extending over 2 floors above the business premises, currently accessed internally from the inner lobby but with scope to become self-contained via external stairway. Internal stairs rise to entrance door, opens to FIRST FLOOR HALLWAY from which the majority of rooms lead off. Spacious KITCHEN/DINING ROOM, rear aspect, wood effect vinyl flooring, fitted with base and wall storage units, work counters, space for cooker and upright fridge/freezer. SITTING ROOM leading off, 2 windows providing front aspect. To the rear of the first floor, BEDROOM 1, a double with views over the river, contains airing cupboard, separate SHOWER ROOM fitted with double shower cubicle, hand washbasin and toilet. Additional stairs rise to the SECOND FLOOR LANDING AREA from which the remaining bedrooms lead off, benefiting from Velux roof window and loft access which offers storage. BEDROOM 2, situated to the rear of the property, a double with views over river, EN-SUITE BATHROOM fitted with bath, hand washbasin and toilet. BEDROOM 3, a double with front aspect, BEDROOM 4, also a double with eaves storage and Velux roof window.

Outside: To the rear of the property, small YARD AREA with access to the public car park whereby annual car parking permits can be obtained at a cost of £85 per annum. The yard houses oil storage tank in respect of the oil fired central heating, and propane bottled gas store in respect of the commercial kitchen.

Business: An established eating venue acquired by the current owners in 2015 when they returned to the village, only now offered for sale in order to pursue semi-retirement. Under current ownership the premises have been subject to refurbishment and improvement with considerable success enjoyed. Operating as a licensed restaurant, serving a range of quality starters, mains and desserts, steaks prove particularly popular and a steak menu is offered, the average spend per head being in the region of £35. Both local and visitor trade is enjoyed, a great deal of spin off trade is obtained from those staying at surrounding Guest House establishments who no longer offer evening meals. New owners can choose to continue to operate the business on the current lifestyle basis or may wish to develop it further through daytime trading and the offering of teas, coffee's, light bites, lunches and afternoon tea for which there is considerable demand.

Trading Hours: Operated on a seasonal basis, typically 9 months, March through to November with occasional opening for events such as New Year and Valentine's Day, opening 6.30pm with last orders around 9.00pm, customers booking the table for the evening.

Staff: Operated as a partnership by a husband and wife team with a very small amount of seasonal part time assistance as and when required.

Takings: With the business being operated on a lifestyle basis, trading limited seasonal opening hours, takings are purposefully maintained below the VAT threshold. In respect of the financial year ended 31st May 2018 Sales amounted to £81,741 returning a Gross Profit of £53,815 equating to an excellent 66%, the business still proves most profitable such are the low day to day overheads associated with the premises and minimal staff required.

Comments: The sale of 7 The Bistro provides an opportunity to acquire a spacious character property within a most desirable coastal setting, providing an attractive well equipped restaurant together with family accommodation. Coupled with this is an established respected business which lends itself to further development should new owners so wish through opening daytimes and the offering of lunches together with the ever popular cream team, benefiting from a lucrative trading position.

Tenure: The vendors own the Freehold, both Freehold and Leasehold options are available. In respect of the Leasehold option, a new negotiable Lease is available with a commencing rent in the region of £10,000 per annum in respect of the restaurant premises only or £15,000 per annum to include the benefit of the accommodation.

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

Price:£345,000 for the benefit of the Freehold, Goodwill, Fixtures, Fittings & Equipment (according to inventory) plus stock at valuation OR £45,000 for the benefit of the new Lease, Goodwill, Fixtures, Fittings & Equipment (according to inventory) plus stock at valuation.



More information from this agent

Energy Performance Certificates (EPCs)

Nearest station

  • Barnstaple (14.8 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?

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Map & Street View

Nearest station

  • Barnstaple (14.8 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 R34345N. 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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