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RESTAURANT, COFFEE SHOP AND DELI, NEWQUAY, CORNWALL

Newquay, Cornwall
Leasehold Price:
£265,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
236101
Reference
E7651RB / Rightbiz

Details

LOCATION:               On the main shopping street amongst independent, multiple traders and hotels with a beautiful beach with terrace seating overlooking the clear ocean from the rear of the premises and ample free street parking.

 

DESCRIPTION:        On the ground is the forecourt with a large counter section inside comprising the A1/A3 use deli section with sandwiches, etc., a hot food section and a bar; all tastefully decorated. The seating area accommodates up to 60 covers and the owner also has a few sofas which can be laid out to suit a buyer’s requirements. There is also a large terrace on the ground floor overlooking the beautiful ocean.

 

                                    On the first floor is the A3 use restaurant (with full alcohol licence) with bar, seating for 40 and 3 booths, another large terrace overlooking the ocean, a dumb waiter plus ladies, gents wc’s.

 

                                    On the second floor with A3 use is the room, an office, a fully fitted and equipped kitchen, plenty of storage areas, staff wc and a side alley encompassing the bin area.

 

BUSINESS:               Run by the manager with 5/6 part time staff averaging £125,000 pa from the ground floor only takings (on books) at 65/70% gp. The takings increase to £20,000 per month during the summer months. Great potential exists for the first floor restaurant as the owner has only concentrated on the ground floor thus far.

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HOURS:                     5 Day week. Closed Monday and Tuesday. Open Wednesday to Sunday 8 am to 4 pm. Closed annually from 16 December to 1st February.

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COMMENTS:            The turnover was £125,000 from the ground floor only when the restaurant was closed. The takings would increase to £20,000 per month in the summer when the restaurant is open. The owner has only concentrated on the ground floor in the past so much potential exists to develop the restaurant area on  the first floor.

 

TENURE:                   Held on 2 renewable leases to 2031 at annual rents of £12,000 plus VAT and £16,000 plus VAT with 5 yearly rent reviews. Next review in 2021. Rates payable £7,800 pa.  

 

VIEWINGS:                     By appointment only (staff unaware).

 

NEGOTIATIONS:     Strictly through PEGASUS BUSINESS SALES on 020 7935 3939

Listing Details
Leasehold Price: £265,000
Tenure: Leasehold
Sector: Restaurants, Cafes, Delicatessens
Financials
Annual Turnover: £125,000
Annual Net Profit: Available upon request
Key Features
  • Planning Consent Available
  • Town Centre location
  • Unique Business
  • With Car Park
  • Retirement Sale
  • Open Plan Trading Area
  • Fully Fitted
  • Established Business
  • Attractive Business
  • Accounts Available
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