Restaurants for sale in Exmouth

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Attractive Licensed Restaurant Situated in Busy Prime Trading Position

Exmouth, Devon, England

  • Leasehold Price: £45,000  Price Reduced arrow_drop_down
Seller Reference: 2109
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Business Description
 
 
 
 
 
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Seller Reference: 2109
Request Details
Business Description
THE PROPERTY
Millers Restaurant is a popular and well-regarded licensed restaurant trading on deliberately restricted opening hours of just 5 evenings and 1 lunch time per week. The business occupies a ground floor lock up premises, which have benefitted from continued investment and expenditure, 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 this quality licensed restaurant premises which represents an opportunity to purchase an established and well-regarded business with no major expenditure necessary. Millers 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 42 customers, with ample space for more; Commercial 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
Millers 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 of Millers Restaurant represents a perfect opportunity to purchase a busy and well-regarded catering business in an excellent trading position with tremendous potential for further growth and development of the trade levels.

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 42 customers with ample room for more if desired. Brick fronted 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. 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 undercounter 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 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
Millers Restaurant trades as a quality licensed restaurant offering predominately British cuisine, trading 5 nights a week, Tuesday to Saturday evenings from 6pm until 10.30pm and offering a popular Sunday lunchtime carvery from midday until 2pm. The business boasts strong levels of trade and benefits from a lucrative and prominent high footfall trading position. Through personal choice and to fit in with their lifestyle requirements, our clients have purposefully restricted the opening hours of the business. 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, not only from Exmouth but also from the surrounding towns and villages, 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 Certificate of Excellence by TripAdvisor. The business has a website www.millers-menu-exmouth.co.uk which provides further background information and menus. The sale of Millers 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 Tuesday to Saturday from 6pm to 10.30pm and Sunday from midday until 2pm. Closed on Mondays and for around 4 weeks every year to enable our clients to take holidays.

CURRENT STAFFING
Currently the business is run by our clients, a husband and wife partnership, with the assistance of up to 3 part time members of staff, dependant on trade levels. Further details can be made available upon request.

POTENTIAL
The sale of Millers Restaurant provides an excellent opportunity to purchase a thriving, profitable and established catering business 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 to provide a daytime offering. 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 High Street trading position.

EPC
D-96

RATING
For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website www.voa.gov.uk.

SERVICES
All main services are connected to the property.

PRICE & TENURE
£45,000 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 being offered by way of a 10 year lease at a rent of £9,500 per annum. The lease is an internal repairing (to include the shop front) and insuring lease. Further details available upon request.

VIEWINGS
Strictly by appointment with the vendors Sole Selling Agents.Tel:(01392)201262.Email:info@stonesmith.co.uk
You are recommended to contact us before visiting the property even for an informal viewing. We can then confirm whether or not it is still available.

FINANCE
An early discussion about finance can often save time and disappointment. If you would like independent specialist advice on funding this property or any other purchase, we recommend you contact us for a list of our approved brokers.
Trading hours:
The business trades Tuesday to Saturday from 6pm to 10.30pm and Sunday from midday until 2pm. Closed on Mondays and for around 4 weeks every year to enable our clients to take holidays.
Tenure:
Leasehold
Location Details:
Millers 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
Leasehold Term:
We are advised that the premises are being offered by way of a 10 year lease at a rent of £9,500 per annum. The lease is an internal repairing (to include the shop front) and insuring lease. Further details available upon request.
Listed by:
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