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Town Centre Bar Restaurant Premises With Owners Accommodation For Sale

Barnstaple, Devon, UK
Freehold Price:
£269,950
Leasehold:
£22,000
Turnover:
Not applicable
Net Profit:
Not applicable

* Prominent trading location at end of High Street
* Formerly café / restaurant but suitable for a wide variety of food and drink operations
* Ground floor trading space with additional first floor restaurant and commercial kitchen
* Redeveloped owners accommodation consisting of two bedrooms, bathroom and kitchen / living room with vaulted ceiling
* Available to purchase or by way of a new lease

Location
With over 40,000 inhabitants including nearby villages, Barnstaple is a thriving town near to beautiful beaches and countryside, and the centre of North Devon in commerce, culture, education and service provision. It has a wide variety of businesses attracting tourists and permanent residents year-round, including a vibrant and diverse collection of bars and restaurants for evening footfall. Barnstaple is easily reached via the A361 which leads to the M5 at Junction 27, has a station with hourly trains to Exeter at peak times, and Exeter airport is an hour away. The town is rapidly expanding with several new housing and commercial developments currently underway, and more than 5,000 new houses and further economic development planned for the near future. The notable towns of Bideford (9 miles), Woolacombe (14 miles), Ilfracombe (12 miles), South Molton (12 miles) and Torrington (14 miles) are also nearby.

The situation
Occupying a highly prominent return fronted corner site, the premises are situated on Boutport Street, at the entrance to the towns High Street. Close by is The Strand and The Square both of which have been subject to much redevelopment by the local authority and is the destination for many food and drink operators.

The property and construction
Being a corner sited three storey premises, under a pitched slate roof, there are trading areas to the ground and first floors, with a redevleoped two bedroomed second floor flat. The ground floor comprises of circa 950 sq.ft (89 sq.m) with a bar servery and covers for approximately 46. There is further trading space on the first floor with a commercial kitchen and restaurant overlooking the High Street entrance and Boutport Street. This area provides additional covers for approximately 30. The second floor was redeveloped by the Landlord a few years ago to create a two bedroom flat with a feature living room / kitchen space with a beamed vaulted ceiling.

The proposal
Our clients are inviting offers for the Freehold interest as well as rental propositions for a new lease. A £10,000 ingoing premium is sought for a new lease.

The inventory
The property is sold with an inventory of trade fixtures, fittings and equipment.

Licence
The property enjoys a Premises Licence.

VAT
It should be noted that VAT is payable, at the prevailing rate.

Rates
We are advised by the Local Rating Authority that the premises are currently assessed as follows:- Rateable Value (2017 Listing): £11,250 Rates Payable: £5,423 based on uniformed business rate of 48.2p in the pound. As from April 2017 properties with a rateable value of £12,000 or less will be eligible to apply for 100% business rates relief. Occupiers may qualify for reliefs and are advised to make their own enquiries of North Devon District Council.

Energy performance certificate
Please contact the agents for a copy of the Energy Performance Certificate and Recommendation Report.

The accommodation (comprises)

Café / lounge bar
25`7 x 18`5 (7.80 m x 5.60 m) Corner bar servery, dual aspect windows, spot lighting, 3 x chiller fridges, covers for approximately 16, through to:-

Seating area
28`11 x 16`7 (8.80 m x 5.05 m) Spot lighting, flagstone floor, covers for circa 30.

Ladies toilets
2 x low level w.c’s, 2 x wash hand basins

Gents toilets
3 x urinals, 1 x low level w.c, wash hand basin

First floor

Landing area with laminate flooring, radiator heating, leading to:-

Restaurant / further seating area
20`10 x 20`0 (6.35 m x 6.10 m) Ceiling coving and rose, spot lighting, laminate flooring, dual aspect overlooking Boutport Street and entrance to High Street, covers for circa 30

Kitchen
Non slip flooring, canopy and extraction system, Convectasteam oven, 4 burner gas oven and griddle, boiler, assorted stainless steel preparation benches / shelving. Adjoining dry store and former staff w.c (plumbing capped)

Second floor – owners accommodation

Landing with carpet and radiator heating

Living room / kitchen
24`2 x 19`2 (7.35 m x 5.85 m) Valuated ceiling with exposed beams and chandelier lighting, kitchen area with eye and base units, tiled floor and splashback, oven and electric hob, boiler, dual aspect

Bedroom 1
13`8 x 11`2 (4.16m x 3.40m) Carpet, radiator heating, spot lighting

Bedroom 2
17`5 x 11`0 (5.30m x 3.35m) Carpet, radiator heating, spot lighting, fireplace and surround

Shower room
Corner shower, tiled floor and walls, low level w.c., wash hand basin, radiator heating

Commercial Funding

Having been in the trade for many years we have established good connections in the finance sector. Our association with these Banks and Commercial Brokers mean that we are able to offer you introductions to competitive finance packages, for a new purchase or refinance purposes alike. Whether it is initial advice on your likely purchase level or if you are at the point of making an offer, you will often be able to achieve preferential rates, possibly saving you thousands of pounds. Please call for more information.


Important notice
JD Commercial for themselves, and for the Vendors of this property whose Agents they are, give notice that:
1. The Particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers should seek their own professional advice.
2. All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
3. No person in the employment of JD Commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of JD Commercial, nor into any contract on behalf of the Vendors.
4. No responsibility can be accepted for any expenses incurred by any intending purchaser in inspecting properties which have been sold, let or withdrawn.

Property misdescriptions act 1993
1. All measurements are approximate.
2. While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact JD Commercial and we will be pleased to check the information for you, particularly if contemplating travelling some distance to view the property.
3. We do our utmost to comply with this Act in full. However we are also trying to represent our clients’ properties in their high possible light, as such we may use summer photographs to promote some properties.

Viewing
By strict appointment through the selling Agents, JD Commercial, 42 Ridgeway Drive, Bideford, North Devon. EX39 1TW

Property Information

Property:

Available as freehold and leasehold

Other Information

Related Documents:
Leasehold asking price:
£22,000

Contact JD Commercial

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