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Established Harbourside Café With Accommodation In Ilfracombe For Sale

Ilfracombe, Devon, UK
Freehold Price:
£385,000 Furniture / Fixtures included
Leasehold Price:
£20,000 Furniture / Fixtures included
Turnover:
£100K - £200K
Net Profit:
£50K - £100K

Established harbourside café in a prominent Ilfracombe trading position, just metres from the harbour and approximately 40 metres from Harbourside Beach. Available on either a freehold or leasehold basis, the business benefits from a return-fronted premises, strong visitor appeal and three-bedroom residential accommodation.

Currently configured as a 36-cover café with an open kitchen and takeaway servery, the business serves breakfasts, lunches, cakes, sandwiches, snacks and hot and cold drinks. The current operation trades daytime hours only, providing scope for a new owner to develop the trading format and opening hours.

The business has been under the same ownership for 18 years and benefits from a strong 4.9/5 TripAdvisor rating under the current tenant. When previously operated by the owners, turnover was approximately £200,000 with net profit of approximately £60,000.

Above the café is well-maintained three-bedroom accommodation with kitchen/diner, lounge, bathroom, utility room and en-suite facilities, with several rooms enjoying side harbour views. A separate lock-up store opposite the café is also included under a 999-year lease.

An attractive opportunity to acquire an established café with residential accommodation in a sought-after North Devon seaside and harbour location.

Property Information

Property:

Available as freehold and leasehold

Lease Terms:

Freehold purchase includes the property plus a separate lock-up store held on a 999-year lease. A leasehold purchase option is also offered, but lease terms are not provided.

Living Accommodation:

Three-bedroom residential accommodation arranged over the upper floors, comprising kitchen/diner, lounge, utility room, four-piece bathroom and three bedrooms, one with en-suite shower room. Several rooms benefit from side views over Ilfracombe Harbour.

Location:

Prominent position on Broad Street, the main arterial road leading into Ilfracombe Harbour, approximately 40 metres from Harbourside Beach. The café is situated within the town’s restaurant and dining area, close to Cove and Ropery Road car parks, benefiting from strong visitor activity and seasonal trade.

Premises Details:

Grade II Listed four-storey harbourside property with return frontage and two access doors. Ground floor configured as a 36-cover café with open kitchen and takeaway servery. Upper floors provide three-bedroom residential accommodation. Separate lock-up store opposite is held on a 999-year lease.

Business Operation

Management type:
This business has absentee ownership.
Expansion Potential:

Potential to develop the current daytime café operation through extended trading hours and alternative catering styles. The premises could also suit a variety of alternative uses, subject to any necessary consents.

Trading hours:

8:00/8:30am–3:00/3:30pm, depending on the time of year.

Years established:
18 years under the same ownership.

Other Information

Financing available:

Introductions may be available to banks and commercial brokers offering competitive finance packages for purchases or refinancing.

Related Documents:
Leasehold asking price:
£20,000 - Furniture / Fixtures included