Baker Payne are extremely pleased to offer For Sale the lease assignment of what is somewhat a jewel in Sherborne's crown. Situated in a prime position, everything about this leasehold premises excudes location, location, location.
Currently A3, trading as a Tapas, Wine Bar, Restaurant, the business has reinvented itself successfully many times yet always maintaining a consistent weekly turnover, profitable income, and although being locally renowned also benefits a solid tourist and passing trade. Always with a view to age retirement, the business was first offered to the market as a restaurant only just prior to the Covid shut down.
The property was first fitted out in 2018 and quickly built up a solid trade until Covid19, when subsequently the closure time was used to refurbish, reinvent, and invest and expand on the existing offering. As you would imagine, an extremely well appointed, nearly new fit out, with quality fixtures, fittings, decor, and ambience. On reopening, and aside any pent up demand, the business continues to be a popular destination and benefits a late licence till 3AM. This lock up premises are no exception to the town's character rule, with a period stone facade, exposed internal timbers, period features, and much Tudor style character meets a modern, clean and contemporary decor. It was reputedly the former offices of Sir Walter Raleigh, giving it a real sense of history and ambience.
EPC Rated C | Total useful floor space of premises circa 1851 SQFT.
Sherborne is a very affluent and popular location in the heart of North West Dorset, sited on the River Yeo, and has a bustling market town centre with a population of circa 10,000 people. 6 Miles east of Yeovil, Somerset, with great links via the A30, Sherborne is full of history and lovely period buildings dating back to the 12th century. It is a regular tourist hot spot, yet retains its busy local repeat trade and insular economy.
The premises is sited amongst other businesses and many complimentary operators, with the town itself being surrounded by densely populated residential areas and the stunning Dorset countryside further beyond.
Held on a 10 Year L&T protected and renewable lease with a private landlord, subject to a ratchet rent currently £10,000 pa (2020) and maxing out at £17,000 pa for the remainder of the term. (circa 8 yrs remaining from 2018) Renewable on its expiry.
The business had grown rapidly from a standing start, with weekly takings a continuous £5000 pw, with gross profit margins an excellent 72%.
This business and or premises was originally viewed and valued by Richard Payne (m) 07864 054440 who will be pleased to discuss the opportunity in further detail.
- Close to Local Amenities
- Established Business
- Attractive Business
- Prime Location
- Town Centre location
- Fully Fitted
- Free of Tie Leasehold