Established Spanish Tapas Restaurant in Popular Exeter Dining Hub for Sale
Exeter, Devon
- Status
FOR SALE
- Advert ID
626586
- Reference
CalvoLoco / Rightbiz
- Call Agent:
- Leasehold: £57,500 (Stock at valuation)
- Turnover: On request
- Profit: On request
Business Details
A Thriving Spanish Tapas Restaurant, in a Prime Location
An exceptional opportunity to acquire a well-established Spanish tapas restaurant in the highly sought-after Magdalen Road, Exeter. This vibrant location is renowned for its high-quality eateries and is considered the heart of Exeter’s dining scene. Having built an outstanding reputation among locals, students, online patrons, and visitors, this charming eatery offers an authentic rustic appeal and a warm, welcoming ambience. Designed for easy operation, it is perfectly suited for an individual or couple to manage with minimal part-time assistance as required. With the added benefit of alfresco dining, the restaurant’s outdoor seating, creates an inviting atmosphere for customers. Early viewing is highly recommended.
LOCATION
Magdalen Road, St Leonard’s, Exeter, is a well-established and highly sought-after residential area, renowned for its thriving independent shops and restaurants. It has long been regarded as a vibrant hub for high-quality dining and shopping, making it an attractive destination for both residents and visitors alike. With convenient parking nearby, including free drop-off and pick-up spaces, the location offers excellent accessibility. It boasts beautiful Devon countryside, the M5 motorway, Exeter International Airport, and the main Paddington train line. The city is also home to the prestigious University of Exeter, which attracts students from around the world and contributes to its lively atmosphere.
BUSINESS
This owner-operated business has been successfully trading for over Six years, managed by a husband-and-wife team with part-time staff. Currently operating in the evenings only, 4 nights a week, there is significant potential for expansion into daytime service and extended opening hours. Additionally, a larger parasol could enhance the alfresco dining experience, increasing capacity further. Financial trading accounts will be made available following a successful formal viewing.
ACCOMMODATION
Entrance Recessed part-glazed entrance door leading to:
DINING AREA 1
4.00m x 3.83m
A warm and inviting space featuring a mix of beer and standard tables, with both bench and individual seating for approximately 20 covers. This area leads through a wide archway to:
DINING AREA 2
3.83m x 3.55m
Additional seating for 9-10 covers, also furnished with beer and standard tables. Both dining areas are decorated in an authentic rustic Spanish tapas style, evoking the charm and ambience of a Mediterranean holiday experience.
BAR/SERVERY
Located within Dining Area 2, the bespoke bar is fully equipped with refrigeration units, an electronic till, and a state-of-the-art bean-to-cup coffee machine.
KITCHEN
3.92m x 3.07m
A well-equipped kitchen with all necessary appliances to efficiently handle food preparation for the business.
STORE 1
3.21m x 1.52m
Situated at the rear of the kitchen, this space is ideal for dry storage, refrigeration, and includes a smaller washing-up area with a commercial dishwasher.
STORE 2
2.62m x 1.73m
Located between Dining Area 2 and the toilets, this larger walkway serves as additional storage space.
TOILET
A spacious unisex toilet with a WC and handwash basin.
OPENING HOURS
Wednesday – Saturday: 5:00 pm – 10:00 pm
Sunday – Tuesday: Closed
Online Presence & Reservations
Website: localloco.co.uk/listing/calvo-loco-tapas-bar
Instagram: instagram.com/explore/locations/264292831082895/calvo-loco-tapas-bar
Facebook: facebook.com/calvolocotapasbar
Online Reservations: Dojo.app
FIXTURES & FIXTURES
A full inventory will be provided prior to the exchange of contracts. Please note that Ware Commercial has not undertaken any testing of fixtures or appliances.
SERVICES
The property benefits from mains electricity, water, sewage, and broadband connections. However, no testing of these services has been conducted by Ware Commercial.
BUSINESS RATES
For up-to-date information, please consult the local valuation website at www.voa.gov.uk. (The property is currently fully exempt from business rates due to small business rate relief.)
TENURE
Leasehold (secure and renewable lease).
VIEWINGS
All viewings and enquiries should be directed to Ware Commercial.
Tel: 01803 328880 or 01392 462266
Email: [email protected]
Website: www.warecommercial.com
Contact Agent
Listing Statistics
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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