Restaurant for sale
Property description & features
- Tenure: Freehold
- Formerly two 12th century fisherman’s cottages
- Tastefully modernised and extended
- 26 Covers plus 6 seats at the cosy bar
- Delightful 3 bedrooms owners accommodation
- Large tiered terraced gardens to rear with far reaching views
- The business is for sale as a going concern
- Takings circa £85,000 p/a with scope to increase
In one of Ilfracombe's oldest streets, namely Fore Street which meanders gently down to the harbour from the High Street.
The property is at the lower end and opposite a pathway that connects to the car park in Ropery Road and therefore is easily accessible to The Quay, Harbour, Pier and Beaches.
Ilfracombe is the largest resort in North Devon with a population of around 12,000 inhabitants which is boosted throughout the year with the influx of tourists. Recent inward investment to the town includes the construction of a new Water Sports Centre at Larkstone Cove due for completion in August 2022.
In addition the world renowned artist Damien Hirst has placed a statue called 'Verity' on the pier which attracts many more day visitors.
Formerly two fisherman's cottages this Grade II Listed 12th century building has been lovingly restored and modernised throughout. With a long standing reputation as a catering venue known for many years as 'The Ancient Mariner' then as an Italian restaurant, in recent years the business has flourished as Relish Bar & Bistro.
With character accommodation providing a cosy seating to the ground floor with a bar servery, a well-equipped commercial kitchen and upstairs is a modernised comfortable 3 bedroom (one en-suite) owner’s accommodation.
In addition to the rear are three tiers of private gardens enjoying an open outlook with views of the Capstone Hill on the seafront, Lantern Hill on the Pier, Hillsborough and the sea.
This licenced restaurant opens from March to January, mainly in the evenings and trading at around £85,000 turnover per annum. The business was acquired some 10 years ago by the current owner and has been modernised throughout providing a very comfortable home and income.
Ground Floor 8.86m x 5.3m
Bar Lounge Area 5.3m x 4.14m
Front Restaurant 5m x 3.3m
Rear Restaurant 3.76m x 4.06m
Olde worlde stone fireplace. Doors to hallway and rear lobby.
Lobby 1.65m x 0.2m
With built in cupboard.
Store 1m x 2.46m
Commercial Kitchen 5.61m x 3.66m
The kitchen is fully fitted and equipped, subject to trade inventory, excluding those items of a personal nature.
Open Plan Lounge 5.46m x 5m
Kitchen/Breakfast Room 4.04m x 3.66m
The kitchen is fully fitted and equipped, subject to inventory, excluding those items of a personal nature.
Shower Room WC
Bedroom 1 3.38m x 2.92m
Bedroom 2 3.15m x 2.24m
Bedroom 3 4.1m x 2.44m
Three tier rear terraced garden enjoying an open outlook over the town. Lower tier has a Spanish style courtyard with white washed walls, astro turf steps to the middle terrace with decking, far reaching open outlook and views to Capstone and fencing steps to the top tier decked sun patio with fencing, far reaching views of Lantern Hill, Hillsborough and the sea.
We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of HMRC.
Strictly by appointment through the selling agents.
£2,650 UBR, as of April 2017, 47.9p in the £ Our Rateable Value figure has been obtained from the Business Valuation website at the time of the property detail going to print, however, we would advise all applicants make their own enquiries via the Valuation Office or website regarding this figure. Small Business Rate relief (100%) may apply as the Rateable Value is below £12,000.
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