JD Commercial Property Directory

TOWN CENTRE RESTAURANT EQUALLY SUITABLE FOR DAYTIME, EVENING OR PUBLIC HOUSE TRADE

 Town centre location just off town square, close to car parking
 Refurbished and redecorated trading areas
 Suitable for a wide variety of catering uses including daytime, evening, public house, Indian, Chinese etc
 Main restaurant / lounge bar and private rear restaurant area
 Four en-suite letting rooms & mangers apartment, suitable as private or letting accommodation
 Fitted commercial kitchen, inventory included
 Considerable scope as currently trading daytimes only
 Services : All mains connected

LOCATION

Torrington is a small market town with a large agricultural hinterland, situated approximately 7 miles to the south east of the administrative centre of Bideford and approximately 11 miles to the south west of the sub regional centre of Barnstaple.

THE SITUATION

The property is situated within South Street between the town square and the main car park.   There are a variety of assorted retail, office and leisure users in the immediate vicinity with the refurbished Pannier Market closeby.   

THE PROPERTY AND CONSTRUCTION

The main building is of predominately stone construction with rendered elevations under a pitched slate roof.   There are latter extensions to the rear providing extended trading area and commercial kitchen.   The ground floor provides main restaurant and bar servery with covers for circa 40, rear restaurant area with additional 24 covers and commercial kitchen.   The upper floors can be self contained, via a side entrance, and currently provide four en-suite bedrooms, which are let on a weekly basis, and a one bed owners / managers apartment.  Should new owners prefer all of the accommodation on the first and second floors could be utilised for their private use.  Our clients acquired the building in 2009, having undertaken assorted refurbishment and redecoration works as well as establishing a growing trade, they are seeking retirement.

THE PROPOSAL

Our clients are inviting offers for the freehold interest.

THE BUSINESS

Currently traded as a family business, operating hours are 5 days per week, 11am – 4 pm, with no evening or weekend trade undertaken.  It is thought new owners could adapt the opening hours to suit their trading style, either daytime, evening or both.  Other catering trades may also be a consideration of new owners such as Indian, Chinese, Mexican or reopening as a Public House which the property traded for a number of years.  Having traded since December 2009 our clients projected first year end turnover is anticipated to be in the order of £65,000, which would be achieved from a standing start.  The upper floors currently provide a rental income with the 4 first floor rooms being rented on a weekly basis at between £60 - £70 per week, with the top floor flat being occupied by a member of staff.

THE INVENTORY

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

LICENCE

The property enjoys a Premises Licence.

RATES

We are verbally advised by the Local Rating Authority that the premises are currently assessed as follows:- Rateable Value: £7,250 Rates Payable: £3,321 based on uniformed business rate of 45.8p in the pound.   Occupiers may qualify for reliefs and are advised to make their own enquiries of Torridge District Council.

VAT

Payable, if applicable, at the prevailing rate.

THE ACCOMMODATION (comprises)

Double doors with porch entrance and door to :-

MAIN RESTAURANT / LOUNGE BAR
38'9 x 18'8 (11.80m x 5.70m) Carpet, radiator heating, radiator covers, double bay windows, exposed beams, feature stonework, table and chair seating for circa 40 covers, wall lighters, back ground speaker system.  Spot lit return bar servery, non slip floor, optics rail, wine racking, ground coffee machine, espresso machine, M’aitre D till system, 2 x chillers, CCTV, dishwasher

Carpeted rear hallway with access and steps to cellar

GENTS TOILETS
2 wash hand basins, low level w.c., stainless steel urinal, radiator heating, tiled wall and floor

LADIES TOILETS
2 low level w.cs, 2 wash hand basins, tiled wall and floor

RESTAURANT
20'6 x 16'10 (6.25m x 5.15m) Carpet, radiator heating, feature oven inset within wood surround, ceiling coving, table and chair seating for circa 24 covers

KITCHEN
Tiled floor, stainless steel sheet walls, 2 microwaves, dishwasher, plate warmer, commercial double fridge, commercial double freezer, extractor system, double deep fat fryer, six burner gas oven, double grill, stainless steel prep benches, stainless steel single drainer sink, wash hand basin

FIRST FLOOR

There is a self contained entrance to the upper floors which enables them to be utilised for letting purposes or for owners / staff accommodation.

OFFICE
12'11 x 8'0 (3.70m x 2.45m) radiator heating

BEDROOM 1
19'7 x 15'8 (5.95m x 4.75m) Family room, bay window, carpet, radiator heating, three piece en-suite shower room with tiled walls

BEDROOM 2
14'9 x 12'4 (4.50m x 3.75m) Twin room, carpet, radiator heating, three piece en-suite shower room with tiled walls

BEDROOM 3
14'3 x 11'9 (4.35m x 3.60m) Double room, three piece en-suite shower room with tiled walls

BEDROOM 4
16'0 x 11'2 (4.85m x 3.40m) Twin room, carpet, radiator heating, three piece en-suite bathroom with shower attachment, tiled walls

SECOND FLOOR

KITCHEN / DINER
18'11 x 9'6 (5.75m x 2.90m) eye and base units, stainless steel single drainer sink, radiator heating

BEDROOM
12'4 x 10'0 (3.75m x 3.05m) carpet, radiator heating

SHOWER ROOM
Three piece, radiator heating, tiled walls

OUTSIDE

There is a side access providing a self contained entrance to the first and second floors.

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
TEL: (01237) 424053 / 07868 846357 E-MAIL: james@jd-commercial.co.uk