Bistros for sale in Paignton

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Colin Morley (October 2016)
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Leasehold Price: £25,000 Price Reduced Annual Turnover: £63,500
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Business Description
• Popular Restaurant located in Paignton, Devon
• Recently refurbished throughout
• Rising turnover and profits with scope to improve
• Excellent local reputation
• Desirable highly visible trading position
• Fantastic change of lifestyle opportunity
• Good mix of complementary businesses nearby

Falcon Commercial is delighted to offer for sale this extremely well presented Restaurant which occupies a prime trading position in one of the main shopping streets in this popular Devon seaside town. It has been under the proud ownership of our clients since 2013 during which time they have made considerable investment in an extensive refurbishment of the premises. It is now reluctantly being placed on the market as the owners wish to develop other business interests. During our clients stewardship the business has built up an excellent reputation for its welcoming atmosphere, fantastic food and great service.

Restaurant 59 enjoys a central town centre trading position on a busy shopping thoroughfare with good pedestrian flow. Shoppers are attracted to the area by the range of businesses on offer. This thriving refurbished business is operated as an evening restaurant which serves a range of English style tapas ranging from simple dishes of olives and bread to richly flavoured shellfish, slow cooked meats and stone baked pizzas. All produce is sourced locally wherever possible and all food is freshly prepared and cooked to order. It is considered the premises are suitable for all types of cuisine.

Restaurant 59 is run by our clients with help from a dedicated team of part time staff and generates a turnover in the region of £63,500 per year with healthy gross profit margins. The business has seen an increase in turnover but there is still tremendous potential to increase the income its generates, possibly running a modest marketing campaign or by extending the opening hours to include earlier in the day, especially in the summer months.

This rarely available opportunity is not to be missed and early negotiations with Falcon Commercial come highly recommended

The Premises
Substantial and well maintained leasehold building, benefiting from being in a highly visible position on one of the main roads that runs through Paignton town centre. It is surrounded by an excellent mix of complimentary independent owned and multiple businesses.
The premises have been well maintained and are fitted and presented to high trade specifications throughout. These charming premises provide outstanding and highly functional internal business accommodation.
The premises briefly comprise:

Ground Floor
• Main Restaurant with open plan customer seating area largely comprising of a range of free standing high backed chairs and free standing wooden tables comfortably seating 35 plus customers in total. The Restaurant benefits from wooden floors as well as an attractive bar servery with ample work surfaces, under counter storage and three 3 refrigerators for drinks behind.
• Commercial catering kitchen with extraction containing a good selection of well-maintained catering equipment.
• Ladies toilet
• Gents toilet
• Store room

External
• Covered storage area
• 1 parking space

Opening Hours
• 5.30pm – 9.00pm (approx) Tuesday – Thursday
• 5.00pm– 11.00pm (approx) Friday and Saturday
• Closed Sunday and Monday

Turnover
• £63,500 Per year

Business Rates
Business rates payable: Nil per year
Interested parties should make their own enquiries of the local billing authority to ascertain the exact rates payable or enquiries can be made online at the VOA website www.voa.gov.uk

Stock
The business stock value is: £1500

Staff
The business is run by the proprietor with help from a dedicated team of part time staff who work on an agreed rota basis.

EPC
Commercial Energy Performance rating: TBC

Planning
Potential tenants are advised to make their own enquiries to Torbay Council, Castle Circus, Torquay Devon TQ1 3DP email enquiries@torbay.gov.uk

Legal Costs
Each party to bear their own legal costs incurred in the transaction.

Accounts
Accounts will be provided to genuine purchasers after a formal viewing

Viewing
Strictly by appointment with the vendor's agents, Falcon Commercial, 1 Miltons Yard Axminster EX13 5FE on 01297 598080
Tenure: Leasehold

Location Details: 59 Torquay Road
Paignton, Devon

Leasehold Term:
• We are advised that the business will come with the benefit of a new secure lease for a period of 7 years . • Rent payable: £8500 per year.

Listed by: Falcon Commercial
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