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Restaurant for sale

Queen Street, Barnstaple, Devon, EX32


Property Description

Full description

Tenure: Leasehold

In a busy trading position, adjoining William Hill bookmakers on one side, close to the main town bus station and Queen's House multi service office complex. This property is in a guaranteed position for passing and static trade, with three main car parks nearby, the Queen Street car park (with 232 spaces), Hardaway Head car park (with 182 spaces), and Belle Meadow car park (with 125 spaces). The premises are in level walking distance of all town centre amenities.

This property comprises of a ground floor sandwich bar with servery and seating area. The ground floor is approximately 275 sq ft with a first floor preparation area with private office and staff cloakroom.

The premises are offered on a basis of the original lease which has been held by the current tenant for the last four years with a current passing rent of £3,100 per annum. The immediate landlord is William Hill bookmakers and they rent the property from a head landlord. An incoming purchaser will need to supply the usual bank and trade references for landlord's approval.

The business has been established for 28 years under the same ownership and is now for sale due to retirement purposes. The sandwich bar opens 6 days a week, Monday - Friday from 8 am - 4.30 pm and 8 am - 4 pm on Saturday. The business is closed on Sunday. It is operated by a proprietor and one part time staff member (his daughter). We are advised that in 2015 the net profit was approximately £17,000 per annum.
The owners also have a vehicle, a 2005 Citroen van with the Loafers logo which can be available by a separate negotiation. This vehicle is used for collecting items, bread etc. and has been in the past used for delivering to garages but our clients have in recent years slowly stopped deliveries to outside locations. Therefore the bulk of the business is undertaken from the shop counter trade.

The accommodation briefly comprises:

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