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Licensed Restaurant With Large Accommodation Above For Sale

Ilfracombe, Devon, UK
Asking Price:
£350,000 Furniture / Fixtures and Inventory / Stock included
Turnover:
Not applicable
Net Profit:
Not applicable

An outstanding home and income opportunity located in the heart of Ilfracombe, comprising a long-established licensed restaurant with extensive owner’s accommodation above. This impressive Grade II Listed Victorian property offers large, light-filled rooms with high ceilings and significant character throughout.

The business has operated successfully as a restaurant since 1995 and is currently run as a Chinese restaurant and takeaway. The ground floor provides a fully licensed dining environment with seating for up to 46 covers, while the upper floors offer substantial five-bedroom accommodation that would comfortably suit two families.

Offered for sale as a going concern, this is a rare opportunity to acquire a freehold hospitality business with generous living space in one of North Devon’s most popular coastal towns.

Property Information

Property:

Freehold

Living Accommodation:

The upper floors comprise spacious owner’s accommodation including:

Five bedrooms

Large reception rooms with high ceilings

Gas fired central heating throughout

Separate pedestrian access to the second floor from Tarry Lane, allowing flexibility for multi-family living or potential separation

Location:

Situated in a prime High Street trading position in the very centre of Ilfracombe, North Devon’s leading holiday resort. The town benefits from strong year-round tourism, expanding residential development, and increased visitor numbers attracted by the harbour, beaches and Damien Hirst’s ‘Verity’ statue on the pier.

Premises Details:

Ground floor licensed restaurant providing:

30 covers in the main restaurant

Additional 16 covers in the function room (currently used as a beauticians)

Fully equipped commercial kitchen

Customer cloakrooms

The function room can easily be reverted back to catering use if required.

Planning Consent:

Existing licensed restaurant use
Buyers to satisfy themselves regarding permitted use

Business Operation

Expansion Potential:

Reinstating the function room for additional covers

Expanding takeaway and delivery trade

Alternative catering concepts subject to consent

Potential partial residential letting of upper floors

Competition / Market:

Located within a busy hospitality and tourism hub with other food and beverage operators nearby. The size of the accommodation and freehold nature of the property provide a strong competitive advantage.

Trading hours:

Currently trading as a licensed Chinese restaurant and takeaway
Trading details available to genuine buyers following inspection

Years established:
31

Other Information

Support & training:

Handover available subject to agreement