LOCATION
With over 40,000 inhabitants including nearby villages, Barnstaple is a thriving town near to beautiful beaches and countryside, and the centre of North Devon in commerce, culture, education and service provision. It has a wide variety of businesses attracting tourists and permanent residents year-round, including a vibrant and diverse collection of bars and restaurants for evening footfall. Barnstaple is easily reached via the A361 which leads to the M5 at Junction 27, has a station with hourly trains to Exeter at peak times, and Exeter airport is an hour away. The town is rapidly expanding with several new housing and commercial developments currently underway, and more than 5,000 new houses and further economic development planned for the near future. The notable towns of Bideford (9 miles), Woolacombe (14 miles), Ilfracombe (12 miles), South Molton (12 miles) and Torrington (14 miles) are also nearby.

THE SITUATION
The subject property is situated on the Town's High Street and is close to Tesco Express with other assorted retail, office and leisure users in the immediate vicinity including Boots Opticians, The Entertainer, Halifax and HSBC as well as independent retailers.

THE PROPERTY AND CONSTRUCTION
Being a prominent fitted cafe premises with a double frontage and a ground floor area of circa 1,897 sq.ft (176 sq.m). The well fitted ground floor offers 50-60 covers, counter servery, LED lighting, air conditioning, wood flooring, customer toilets, buggy park, preparation areas and wash room. There are extensive upper floors, with first and second floors totalling 2,974 sq.ft (276 sq.m) and consisting of 9 rooms, one of which is currently utilised as a function room. It is thought these floors could be developed if desired, to further function suites, business hub, owners' accommodation etc, subject to necessary consents. The business also has a pavement licence for further 'on street' tables and seating. The property is Grade II Listed and there is a walled garden to the rear.

THE PROPOSAL
Our client is inviting offers for the leasehold interest of the business and an assignment of the existing lease, at a current rent of £17,500 per annum. We understand the Landlord's may grant a new lease subject to necessary references and approval or alternatively they may also consider the sale of the Freehold to the business purchaser.

THE BUSINESS
Our clients established the business in 2020 and from a standing start have created a profitable trade with recent accounts showing a net turnover of £179,000 and a net profit of £40,000, despite having a wage bill of £50,000. The wage bill is considered high as the business is primarily operated by staff with our client being onsite just one day per week. There are 5 part time staff, one of which includes a supervisor. The business operates a straight forward menu including hot and cold drinks, sandwiches, paninis, toasties, cakes, sausage rolls etc. Current operating hours are 8.30am-3pm seven days per week.

THE STOCK
Any current stock to be purchased at valuation upon completion.

THE INVENTORY
The property is sold with an inventory of trade fixtures, fittings and equipment.

VAT
Payable, if applicable, at the prevailing rate.

ENERGY PERFORMANCE CERTIFICATE
Please contact the agents for a copy of the Energy Performance Certificate and Recommendation Report.

THE ACCOMMODATION (comprises)

GROUND FLOOR

CAFÉ
GIA 1,897 sq.ft (176 sq.m) double fronted shop premises with covers for circa 50-60, air conditioning, music speakers, CCTV, LED lighting, wood flooring, counter servery, dish washer, Fiamma Coffee Machine, coffee grinder, 2 fridges, chiller display, speed oven, hot cupboard

TOILET

DISABLED TOILET AND BABY CHANGE FACILITY

PREPARATION ROOM
LED lighting, non slip flooring, fridges, freezers

WASH ROOM
Stainless steel single drainer sink, ice machine, washing machine, tumble dryer

COVERED BUGGY PARK

FIRST FLOOR

4 rooms, totalling 1,545 sq.ft (144 sq.m) including function suite

SECOND FLOOR

4 rooms, totalling 1,429 sq.ft (133 sq.m) including second staircase to first floor

Commercial Funding

Having been in the trade for many years we have established good connections in the finance sector. Our association with these Banks and Commercial Brokers mean that we are able to offer you introductions to competitive finance packages, for a new purchase or refinance purposes alike. Whether it is initial advice on your likely purchase level or if you are at the point of making an offer, you will often be able to achieve preferential rates, possibly saving you thousands of pounds. Please call for more information.


IMPORTANT NOTICE
JD Commercial for themselves, and for the Vendors of this property whose Agents they are, give notice that:
1. The Particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers should seek their own professional advice.
2. All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
3. No person in the employment of JD Commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of JD Commercial, nor into any contract on behalf of the Vendors.
4. No responsibility can be accepted for any expenses incurred by any intending purchaser in inspecting properties which have been sold, let or withdrawn.

PROPERTY MISDESCRIPTIONS ACT 1993
1. All measurements are approximate.
2. While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact JD Commercial and we will be pleased to check the information for you, particularly if contemplating travelling some distance to view the property.
3. We do our utmost to comply with this Act in full. However we are also trying to represent our clients' properties in their high possible light, as such we may use summer photographs to promote some properties.

VIEWING
By strict appointment through the selling Agents, JD Commercial, 42 Ridgeway Drive, Bideford, North Devon. EX39 1TW
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