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Well Established Restaurant With Accommodation For Sale

Exeter, Devon
Asking Price:
£115,000
Sales Revenue:
£216,727
Cash Flow:
£62,000

Renowned and well established Exeter city centre licensed restaurant with family sized 3 double bedroom accommodation. Net profit in excess of £62,000. First sale for over 25 years.

The business is located in North Street, one of the main thoroughfares and a busy trading position, just off the High Street, in the main shopping area of Exeter city centre and benefits from the considerable commercial advantages of its much sought after trading location, close to two large public car parks, offices, and several well known national retailers. Exeter itself is the regional capital of the South West and as such, is not only an established and expanding business centre, but also a popular tourist destination year round. Renowned for its historic cathedral, university and waterside developments, Exeter boasts excellent transport communications with two mainline rail links to London, an international airport and easy access to the M5 motorway at Junction 30.

This thriving and well regarded licensed restaurant which is presented to a high standard throughout, having been owned by our clients for the last 25 years, has a well established and niche reputation as Exeter’s first vegetation restaurant and it remains the only dedicated vegetarian licensed restaurant which opens both lunchtimes and evenings. The restaurant and ancillary areas occupy the ground and lower ground floor premises whilst the owners accommodation occupies the first and second floors. The premises offers potential for incoming operators to take advantage of this well equipped restaurant premises with a first class reputation and an extremely well established clientele, however it also offers potential for incoming operators to develop an alternative style of trade to suit their own requirements, should they so wish. The premises briefly comprise:- an attractive Main Restaurant Area comfortably seating 50 customers with space for additional covers if required; well equipped Commercial Catering Kitchen, ancillary and welfare facilities; spacious and well presented family sized 3 Double Bedroom Owners Accommodation with Sitting Room, Dining Room, Kitchen, Bathroom and Private Roof Terrace.

Property information

Property:

Leasehold

Lease Terms:

The business is held on a 12 year private lease which commenced in 2012 with rent reviews every 3 years on full repairing and insuring terms.

Leasehold Rent:

£17,500 per annum

Living Accommodation:

3 double bedroom private accommodation

Location:

Located in North Street, one of the main thoroughfares and a busy trading position, just off the High Street, in the main shopping area of Exeter city centre.

Premises Details:

The restaurant and ancillary areas occupy the ground and lower ground floor premises whilst the owners accommodation occupies the first and second floors.

Energy Performance Rating:
C

Business Operation

Trading hours:

Monday to Friday 11:00am to 2:30pm, Saturday 11:00am until 3:30pm and Tuesday to Saturday from 6:00pm until 9:30pm. The business is closed all day Sunday and on Monday evenings.

Employees:
Husband and wife partnership wit 2 full-time chefs and up to 4 part-time/casual staff
Years established:
Owned by our clients for 25 years

Contact Information

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  1. What will happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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