THE PROPERTY:
This Surf & Turf Restaurant is a popular and well-regarded licensed restaurant trading on deliberately restricted opening hours of just 4 or 5 evenings per week, dependant on the time of year.
The business occupies a ground floor lock up premises, which have benefited from continued investment and expenditure, with a recent refurbishment and being purposefully fitted and equipped and presented to an extremely high standard throughout.
The prominent high street premises offer potential for incoming operators to develop a style of trade to suit their own requirements and take advantage of these quality licensed restaurant premises, which represents an opportunity to purchase an established and well-regarded business with no major expenditure necessary.
The restaurant provides an excellent operating environment specifically furnished and equipped for the style of trade undertaken, and this quality business briefly comprises: - air conditioned Main Restaurant Area comfortably seating up to 42 customers, with space for more; a Catering Kitchen fitted and equipped to a high specification; Ancillary and Backup Facilities and a rear Service Yard Storage Area.
An internal inspection is highly recommended in order to fully appreciate all that this impressive and versatile catering business has to offer.
SITUATION:
The restaurant occupies a lucrative and prime trading position with a visible frontage in the centre of the much sought after and highly regarded coastal resort town of Exmouth, probably one of the busiest tourist locations in East Devon.
Enjoying all of the considerable commercial advantages of its excellent trading position amongst other complimentary businesses, the premises are therefore well placed to take advantage of the high footfall, with free on street parking directly to the front. Exmouth is a sought-after coastal resort town situated on the Jurassic Coast and designated as a World Heritage Site by UNESCO.
It is also a dormitory town for nearby Exeter and has a resident population approaching 50,000, although this increases substantially during the peak holiday months. Exmouth's sandy beach has long been a well-regarded tourist attraction.
The cathedral city of Exeter with its easy access to the M5 motorway, intercity rail links and international airport, is approximately 12 miles to the North West. The sale represents a perfect opportunity to purchase a busy and well-regarded catering business with low overheads, in an excellent trading position and offering tremendous potential.
INTERNAL DETAILS:
Feature window frontage with prominent signage above and adjacent recessed part glazed entrance door leading into Main Restaurant Area an attractive and spacious restaurant with a brand new dual air conditioning/heating system, carpeted flooring, feature lighting, range of free standing wooden tables and upholstered high backed wooden chairs comfortably seating up to 42 customers with room for more.
Waitress Station. Substantial brick fronted and polished wood topped Bar Servery fitted with associated back bar fittings and display shelving, with Altro flooring, under counter fridge, glass fronted bottle fridge, glass fronted wine fridge, electronic cash register, stainless steel sink unit, commercial glass washer and coffee machine.
Customer WC's. Commercial Catering Kitchen with non-slip Altro flooring, part tiled and part stainless steel clad walls and being fitted with a comprehensive range of high quality commercial catering kitchen equipment to include:- Extractor system with stainless steel canopy over and gas interlock system, six burner gas range, gas
chargrill, Burco commercial oven, extensive walled shelving, two door under counter commercial fridge, stainless steel serving gantry with warming lamps, four door under-counter commercial fridge, two commercial microwave ovens, table top deep fat fryer, commercial pizza oven, two door undercounter commercial freezer, hand basin, twin deep bowl stainless steel sink unit, commercial dishwasher and two upright fridges.
EXTERNAL DETAILS:
To the rear of the property is an enclosed and partially covered Private Service Courtyard with a wooden Storage Shed housing three chest freezers. A further wooden Shed provides additional dry storage and there is also a small storage unit. Pedestrian access to the rear and bin store area.
THE BUSINESS:
Surf & Turf Restaurant @ Millers trades as a quality licensed restaurant, trading 4 or 5 nights a week, Wednesday to Saturday evenings in the winter and Tuesday to Saturday evenings in the summer, from 6pm with last orders at 8.30pm. The business benefits from a lucrative and prominent high footfall town centre trading position.
Through personal choice and to fit in with their lifestyle requirements, our clients have purposefully restricted the opening hours of the business, allowing for numerous holidays throughout the year. The premises are furnished to an exceptionally high standard throughout and the business enjoys good levels of year round regular repeat trade with an excellent local following, together with a seasonal boost during the busy holiday months.
The business benefits from a 4 Star Food Hygiene Rating and has been awarded a Travellers' Choice Award by TripAdvisor. The business has a website which provides further background information and menus. The sale of the restaurant is an excellent opportunity to purchase a well-regarded 'turnkey' business with an excellent reputation and undoubtedly offers tremendous potential for new owners to put their own stamp on the business and for further growth in trade.
TRADING INFORMATION:
Full detailed accounting information can be made available to interested parties following a formal viewing appointment.
OPENING HOURS:
The business trades from Wednesday to Saturday in the winter and from Tuesday to Saturday in the summer, from 6pm, with last orders at 8.30pm. Closed for at least 6 weeks every year to enable our clients to take holidays.
CURRENT STAFFING:
The business is run by our clients, a husband and wife partnership, with the assistance of up to 3 casual/part time members of staff, dependant on trade levels. Further details can be made available upon request.
POTENTIAL:
The sale provides an excellent opportunity to purchase an established catering business, with low overheads, within a sought-after East Devon coastal resort town. Our clients advise that there is tremendous potential to increase the current trade levels, particularly by increasing the opening hours and to provide a daytime offering and to open up to 7 days a week.
There is also the potential for incoming operators to develop their own style of cuisine and to trade in a manner to suit their own personal requirements and take advantage of this well-equipped and established business in a prime trading position. Our clients are prepared to offer a full handover and training to interested parties should they require it. We believe that the premises would suit a variety of catering styles particularly given its town centre trading position.
EPC
D-96
RATING:
We are advised that the business rates payable are currently nil after 100% business rates relief. For up-to-date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website
All main services are connected to the property.
PRICE & TENURE:
£44,500 for the valuable leasehold interest as a going concern business and full trade inventory. Wet and dry stocks to be additional at valuation.
Vacant possession upon completion. We are advised that the premises are held by way of a 10-year lease from July 2020, at the current rent of £11,000 per annum. The lease is an internal repairing (to include the shop front) and insuring lease. Further details available upon request.
