LOCATION
This historic fishing village has a very healthy tourist trade, thanks to its rows of colourful fishermen’s cottages, popular annual Book Festival, and enviable coastal position on the Taw-Torridge estuary. However, it also has a strong resident community that makes good use of the village’s good-quality shops, cafes, pubs and restaurants. Being also only 1 mile from the larger village of Northam, 2 miles from the family beach and resort at Westward Ho!, and 2 miles from the larger town of Bideford, people in the area tend to move freely between these locations (aided by a regular bus route), which is of benefit to any businesses based here. North Devon’s commercial centre of Barnstaple is also nearby (11 miles).
THE SITUATION
The property is located on Market Street, which runs parallel to The Quay. There are mixed residential and commercial operators in the immediate vicinity including Galleries, Tea Rooms, Restaurants and Public Houses.
THE PROPERTY AND CONSTRUCTION
The premises would have formerly been two or three Quayside Cottages which has operated as public house and restaurant in more recent years, having also been subject to considerable recent refurbishment. The double fronted premises provides character main restaurant with tiled floor, parquet flooring, feature fireplace with wood burner, exposed beams and stonework whilst offering 36 covers. Adjoining is a further snug seating area and bar providing both character and industrial fittings as well as 12 covers. The restaurant areas are serviced by a fitted commercial kitchen with extraction, gas interlock and an adjoining preparation / wash room. To the rear of the property is a garden area which is utilised for further dining covers / outside drinking space with seating for circa 34.
THE PROPOSAL
Our clients are inviting offers for the Leasehold interest at a current rent of £24,000 pa plus VAT (which includes quarterly fire alarm servicing). New lease to be granted, subject to Landlord approval, term to be agreed. Tenant repairing obligations to be internal repairing and insuring plus maintenance and decoration of the frontage.
THE BUSINESS
Although our clients have only operated the business for 12 months they have successfully undertaken both daytime and evening trade during this period with most recent trading being 4 nights per week with an average take of £3,500 per week. These figures have been achieved with little owner input due to ill health which is the only reason for the sale of the business. Due to the short period of time the owner’s have operated the business accounts are not available with the ingoing premium essentially being for trade fixtures, fitting and equipment and the ability to be able to operate a fitted café / restaurant and bar in this popular coastal village.
THE INVENTORY
The property is sold with an inventory of trade fixtures, fittings and equipment.
THE STOCK
Any current stock to be purchased at valuation upon completion, if required.
LICENCE
The property is sold with the benefit of a Premises Licence.
VAT
We understand VAT is payable on the rent, 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
MAIN RESTAURANT
32`7 x 16`0 (9.95 m x 4.85 m) Central entrance door, part tiled floor, part parquet flooring, covers for 36 at present, feature fire place with wood burner, down lighters, exposed beams
SNUG RESTAURANT AND BAR
26`6 x 10`3 (8.05 m x 3.10 m) Bar servery, twin espresso machine, glass washer, ice machine, exposed brick and beams, wine fridge, chiller, smoothie maker, 2 draft beer fonts, tiled floor, covers for 12, doors to rear garden
UNISEX TOILET
Tiled wall and floor, copper sink and taps
UNISEX TOILET
Tiled wall and floor, copper sink and taps
COMMERCIAL KITCHEN
Extraction canopy, gas interlock, 3 compartment chiller, hot plate, microwave, double deep fat fryer, hot cupboard, hot plate, 4 burner gas oven, combi oven, gas grill, 2 x stainless sink unit, non slip flooring
DRY STORE
PREPERATION / WASH ROOM
Dishwasher, 2 compartment fridge, chest freezer, wine cooler, stainless steel sink and drainer, stainless steel wash hand basin.
OUTSIDE
Gravelled garden area with lighting, heating, covers for additional 34, gas BBQ, storage shed
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.
5. 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.
VIEWING
By strict appointment through the selling Agents, JD Commercial, 42 Ridgeway Drive, Bideford, North Devon. EX39 1TW
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