Freehold Restaurant/Bar & Boutique B&B, Tregenna Hill, St. Ives, Cornwall, TR26 1SE

Exceptional Landmark Freehold Property & Turnkey Business Located In St Ives, Cornwall
Offering Multiple Income Stream With Extensive Growth Potential
Highly Rated Bar Restaurant
Premiere Guest Accommodation
Planning Permission Secured For Additional Suites Featuring Sea View Balconies

Ref:3050

Freehold Asking Price: £849,950

This remarkable property is located in the heart of St Ives conservation area, directly opposite the Tourist Information Office. The vibrant corner of Tregenna Hill and Gabriel Street benefits from substantial foot traffic from the nearby bus, train station and major car parks. St Ives is known for its blue flag beaches, charming harbour and independent shops, is one of the UK and Cornwall's most sought-after holiday destinations. It boasts a rich artistic heritage, home to the Tate Gallery, Barbara Hepworth Museum, and the Leach Pottery, attracting one million visitors annually. With one of the longest seasons in Cornwall, St Ives enjoys above average sunshine and has become a premier destination for New Years Eve calibrations, Contributing to a robust property market.

Property & Business Description
 
Originally constructed as the Cornish & Devon Bank in 1897, this property features Victorian grandeur enhanced by many original interior elements, including high ceilings, stone walls, fireplaces, and expansive windows. The current owners completed a meticulous renovation at the end of 2021, utilizing renowned craftsmen, high-quality British materials, and decorative antiques.
 
**Ground Floor / Restaurant & Bar:**
Fully equipped restaurant and bar with 51 covers spanning 135m² with exceptional finishes.- Known for its cocktails, wood-fired pizzas, and Sunday roasts.
Highly rated on OpenTable and Google, the bar enjoys a strong local following, especially during winter months.
Current operating hours are limited due to family commitments, presenting significant opportunities for growth by extending hours and promoting the takeaway service.
Custom-built bar with granite surfaces, espresso machine, and a comprehensive range of bar equipment.
Private dining area and well-appointed kitchen featuring a large pizza oven, walk-in chiller, and ample stainless steel prep space.
Air source heating and intelligent lighting create an unforgettable atmosphere.

Financial Performance:
The business generated a turnover of GBP £605,057 for the year ending 31 January 2024, with GBP £118,817 attributed to the accommodation side of the business.

Opening Times
Wednesday - Saturday - 16:00 - 23:00
Sunday - 12:00 -21:00
Monday & Tuesday - Closed

Ground Floor
Bar & Restaurant (9.7m x 11.7m) comprising: 2 x breakfast bar tables with stools to cover (9), 10 x tables with chairs/leather bench seating to cover (24), long feature table with chairs to cover (12), large wall mounted mirror, feature fireplace, various plants, various pictures, custom built bar with granite surfaces, till with cash draw (epos), espresso coffee machine, coffee grinder, sink with water bottle cooling, various shelves, 2 x two door under counter drinks fridge (Sterling Pro), drinks mixer (Buffalo), wash basin, 2 x wine cooling fridges, glass washer (Smeg), ice machine (Foster), black board menu and usual bar chilling units and vault.

Toilets Gents & Ladies.

Kitchen (4.0m x 2.5m) comprising: stainless steel prep table with service shelving, 3 door chiller unit (Polar), dual basket deep fat fryer (Buffalo), wash basin, large specialised pizza oven (Gozne), pizza stand with paddles, 2 door chiller unit with granite worktop and salad prep (Atosa), large extraction unit, various stainless steel shelves, various oven trays, 2 drawer chiller unit (Polar), microwave (Samsung) and commercial dehydrator.
Prep room (2.6m x 4.6m) comprising: walk-in chiller room, 2 x wire shelving units, stainless steel prep table, upright freezer (Polar), twin basin commercial sink with directional hose, glasswasher (Smeg) and various stainless steel shelves.

Staffroom (1.0 x 1.5m) with W/C, wash basin, mirror & hanging space.

First Floor

Guest Accommodation
Two Luxury apartment style suites covering a total area of 117 sqm plus an additional 14sqm south facing terrace.
Features two ultra-luxury suites, boasting some of the highest scores on Booking.com for their class. Open Plan design with large windows, high ceilings, and the most romantic original features.
Luxurious bathrooms with rolltop baths, walk-in showers, and elegant furnishings. Each suite includes gas fire
Places, under floor heating, air-conditioning, intelligent lighting, super king-size beds, and flat screen television

Guest Room 1
Lounge/Bedroom (16.6m x 4.3m) En-suite (2.4m x 2.9m)
Hallway

Guest Room 2 Lounge/Bedroom (10.0m x 3.7m) En-suite (4.4m x 2.3m)

Second Floor
Storeroom (12.4m x 4.0m)

(Planning permission passed on the second floor for two additional suites with sea views balconies which can substantially enhance profitability. Plans available on request)


EPC Rating C