Restaurants for sale in Kingsbridge

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Licensed Tapas Bar/Restaurant

Kingsbridge, Devon, England

  • Leasehold Price: £23,000  Price Reduced arrow_drop_down
Seller Reference: 2090
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Business Description
 
 
 
 
 
 
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Seller Reference: 2090
Request Details
Business Description
THE PROPERTY
The Fat Monkey is set within a prominent and landmark Grade II listed town centre property. This well presented purpose equipped licensed bar and restaurant, serving a popular tapas style menu and operating on purposely restricted opening hours. The business offers potential for incoming operators to purchase a sought after catering business with genuine potential to develop a style of trade to suit their own requirements and take advantage of the prominent and busy town centre trading position and a well equipped and furnished catering premises. The Fat Monkey occupies the first floor of a prominent town centre, grade II listed property and briefly comprises: - an attractive first floor Bar and Restaurant with panoramic street views, Bar Servery and seating for 40 customers in comfortable surroundings; fully equipped Commercial Catering Kitchen; separate Wash Up/Store Room, Office and Welfare Facilities.

SITUATION
The Fat Monkey is situated in a prime trading location in the middle of Fore Street, the principal retail and professional office location in the popular and attractive South Hams market town of Kingsbridge, an extremely affluent estuary town. With a resident population of around 5,000 which is boosted considerably by visitors to the town throughout the year and particularly during the peak summer months, Kingsbridge also draws trade from the nearby coastal villages, hamlets and towns. Lying approximately 21 miles East of Plymouth, 17 miles South West of Torbay and 10 miles South of Dartmoor National Park, the South Hams enjoys one of the mildest climates in the UK and the area is widely regarded for its leisure, yachting, water sport and marine activities and is truly a very special place in which to live and work. The sale of The Fat Monkey represents a superb opportunity to purchase a competitively priced, licensed catering business with genuine potential to develop all aspects of the trade still further and an internal viewing is essential to fully appreciate all that these well equipped premises offer.

INTERNAL DETAILS
Ground Floor
Entrance doors from Fore Street with stairs rising to first floor.

First Floor
An attractive character open plan Bar and Restaurant offering panoramic street views with windows to the front of the premises, wood effect flooring, painted exposed ceiling timbers, part wood panelled walls, feature lighting throughout, sofas, high stools, freestanding chairs comfortably seating 40 customers with free standing stripped wood topped tables and perimeter seating, wall mounted menu boards, glass fronted bottle fridge. Tiled fronted and timber topped return Customer Bar Servery with associated back bar fittings, feature display shelving, EPOS touch screen cash register, commercial coffee machine, commercial coffee grinder, double glass fronted bottle fridge, stainless steel hand basin and commercial glass washer. Ladies and Gents WC’s. Commercial Catering Kitchen with Altro flooring, part stainless steel clad walls and fitted with a comprehensive range of commercial catering equipment to include:- 6 burner gas range, extractor system with stainless steel canopy over and gas interlock system, twin floor standing deep fat fryer, stainless steel work benches with shelving below, warming cabinet with serving gantry with warming lamps over, commercial microwave oven, stainless steel wall shelving, 3 door commercial counter fridge unit, 2 door commercial counter fridge unit, stainless steel hand basin and stainless steel racked shelving. Wash Up Area with Altro flooring, part wipe clean clad walls, double deep bowl stainless steel sink unit, stainless steel racked shelving, stainless steel work bench, chest freezer, commercial dishwasher, commercial upright fridge, and wall mounted central heating/hot water combi boiler. To the rear of the bar area is an Office/Store Room and a temperature controlled Beer Cellar with ice machine and stainless steel hand basin.
Please note: The fittings, equipment and services listed have not been tested by the agents, although we are informed that all items are in working order.

THE BUSINESS
The Fat Monkey trades as a licensed bar and restaurant predominately opening in the evenings, 6 days per week. The business offers a popular tapas style menu served in a relaxed and informal environment and accompanied by quality beers, wines, spirits and cocktails. Established in 2016, The Fat Monkey has a loyal following which is enhanced by its prominent trading position in the main street and being located next door to the cinema, which attracts cinema goers for pre or post movie meals and drinks. The business has its own website www.thefatmonkey.co.uk which provides further background information and menus and our client also has an active Facebook account. The business also benefits from a 5 star food hygiene certificate and is highly rated on Tripadvisor. An internal inspection is essential in order to fully appreciate the high standards inherent throughout all aspects of this business.

TRADING INFORMATION
Management accounts provided by our client for the year ending 5th April 2018 show sales of £204,705 including VAT. Full detailed trading information can be made available to interested parties following a formal viewing appointment.

OPENING HOURS
The business trades from 3pm until late Monday – Friday and from 10am until late on Saturdays and is closed on Sundays. These hours are further restricted during the winter months.

CURRENT STAFFING
The business is run by our client, a single working proprietor, with the assistance of 1 full time and 5 part time members of staff being employed.

POTENTIAL
Our client advises that there is tremendous potential to increase all aspects of the current trade with opportunities to extend the current opening hours, particularly by opening a day time menu, for which demand exists. There is also the potential for incoming operators to develop their own style of cuisine and trade in a manner to suit their own personal requirements and take advantage of the prominent trading position. The sale of The Fat Monkey represents a rare opportunity to acquire a competitively priced quality town centre catering business in a most sought after and desirable town and new owners will benefit from being able to move in without the need for any major expenditure. Coupled with this, is a profitable business enjoying excellent year round trade with a boost during the summer months.

EPC
Listed building and therefore exempt.

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 mains services are connected to the subject property.

PRICE & TENURE
£23,000 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.

The business is held on a 15 year lease which commenced in 2016 with a current rent of £12,000 per annum. Rent is payable monthly and in advance and the premises are held on internal repairing terms. Full details are 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 from 3pm until late Monday – Friday and from 10am until late on Saturdays and is closed on Sundays. These hours are further restricted during the winter months.
Number of employees:
1 full time and 5 part time
Tenure:
Leasehold
Location Details:
The Fat Monkey is situated in a prime trading location in the middle of Fore Street, the principal retail and professional office location in the popular and attractive South Hams market town of Kingsbridge, an extremely affluent estuary town. With a resident population of around 5,000 which is boosted considerably by visitors to the town throughout the year and particularly during the peak summer months, Kingsbridge also draws trade from the nearby coastal villages, hamlets and towns. Lying approximately 21 miles East of Plymouth, 17 miles South West of Torbay and 10 miles South of Dartmoor National Park, the South Hams enjoys one of the mildest climates in the UK and the area is widely regarded for its leisure, yachting, water sport and marine activities and is truly a very special place in which to live and work. The sale of The Fat Monkey represents a superb opportunity to purchase a competitively priced, licensed catering business with genuine potential to develop all aspects of the trade still further and an internal viewing is essential to fully appreciate all that these well equipped premises offer.
Leasehold Term:
The business is held on a 15 year lease which commenced in 2016 with a current rent of £12,000 per annum. Rent is payable monthly and in advance and the premises are held on internal repairing terms. Full details are available upon request.
Listed by:
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