Restaurant for sale
Property description & features
- Tenure: Freehold
- Genuine retirement sale
- Wonderful home with income opportunity
- High foot fall
- Bar with space for seating inside and outside
- Quality bar fittings
- Very nicely presented owners apartment
- Additional accommodation
- Rear roof terrace and car parking space
Enviable and eye catching location facing west along Ilfracombe seafront in the heart of this popular thriving resort. The property overlooks the promenade, Capstone pleasure gardens, the crazy golf course and is within easy reach of the harbour and all holiday amenities.
THE PROPERTY
This large Victorian property is currently arranged as three units. On the ground floor is a restaurant (now closed) with seating for 24 customers inside and with 32 customers outside as well as a kitchen and store room behind. The luxuriously appointed apartments have their own entrance doors which can be accessed from an internal communal lobby to the side of the property.
The first floor provides a modernised gas centrally heated 2 bedroom apartment, all on one level. The two upper floors provide a spacious modernised 3 bedroom maisonette with gas central heating. There are views of the esplanade and sea beyond at Wildersmouth Beach - the sunsets are spectacular! To the rear of the first floor is a patio bordering Capstone Hill gardens.
The apartments can be used as at present for owners' accommodation plus an annexe or alternatively could be used as owners' accommodation and as a potential holiday let providing a supplementary income. Parking is available for one vehicle. The ground floor may also convert to apartments subject to planning permission if required.
Alternatively, there is opportunity to rent out the ground floor as a commercial unit with the potential rent of £15,000 per annum as well as income by letting one apartment as a holiday let and living in the spacious maisonette on the upper floors.
THE BUSINESS
When trading this was a well respected restaurant with a loyal local and tourist customer base, the owners have since decided to close the business due to retirement. The premises could easily be re-instated.
SERVICES AND UTILITIES
All mains connected. We encourage you to check before viewing a property the potential broadband speeds and mobile signal coverage. You can do so by visiting
BUSINESS RATES
£5,800 UBR, as of April 2023, 47.9p in the £. Our Rateable Value figure has been obtained from the Business Valuation website at the time of the property detail going to print, however, we would advise all applicants make their own enquiries via the Valuation Office or website regarding this figure. Small Business Rate relief (100%) may apply as the Rateable Value is below £12,000.
VAT
We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of HMRC.
LEGAL ADVICE
We strongly recommend that a buyer takes independent legal advice and instructs solicitors to act on their behalf. Each party bears their own legal costs unless otherwise stated.
PLANNING
It is the responsibility of the proposed buyer to satisfy for themselves independently that their intended use complies with existing planning permission by contacting the local council planning department. The cost of any change of planning use is the buyer’s responsibility.
Proceed along Ilfracombe seafront and opposites the Weatherspoon Pub, just before St Philips and St James Church, the premises can be found on the left hand side set back from the road and fronting the esplanade.
Rooms
GROUND FLOOR
BAR 3.66m x 9.83m
Views across the esplanade, double aspect windows, fully fitted bar servery, two way door access and split level area. All equipment included excluding personal items. Internal seating for 24, external seating with glass surround and brick paved patio as well as chill out lounge area outside and seating for 32 customers.
SNUG LOUNGE 3.9m x 2.77m
With bay window, esplanade views and attractive seating area.
INNER HALLWAY
With gents and ladies cloakrooms.
COMMERCIAL KITCHEN 4.65m x 3.7m
Comprehensively equipped, stainless steel single drainer sink unit with double bowl, wash basin, double deep fat fryer, Blueseal Griddle, oven combo with 4 hob cooker, microwaves, stainless steel work tops and extractor unit.
COMMUNAL HALLWAY 3.53m x 1.22m
Door to outside, door to internal communal hallways, landing access and steps to:
REAR STORAGE AREA 5.97m x 3.25m
This room is used for dry food store, refrigerators and wine store.
PRIVATE APARTMENTS
FIRST FLOOR APARTMENT
INNER HALLWAY
LOUNGE 3.05m x 4m
With bay window, double aspect windows with esplanade and sea views and radiator.
KITCHEN DINER 3.68m x 3.4m
Open plan area with bay window affording esplanade views, radiator, fully fitted kitchen area and steps up to:
BEDROOM TWO 3.45m x 3.07m
With radiator and door to fire exit.
BATHROOM WC 3.45m x 1.22m
With three piece suite.
BEDROOM ONE 4.01m x 2.67m
With radiator and built in wardrobes.
SECOND FLOOR APARTMENT
OPEN PLAN STAIRCASE TO FIRST FLOOR
LOUNGE AREA 6.15m x 3.15m
Double aspect views and bay window with extensive esplanade vista and sea visible. Radiators access to:
CLOAKROOM
OPEN PLAN KITCHEN/DINER 6.3m x 4.04m
With bay window enjoying views over the esplanade, fully fitted kitchen, radiator, door to private large rear sun terrace adjoining Capstone Hill.
STAIRS TO THIRD FLOOR
This staircase leads from the open plan main lounge to:
LANDING
BATHROOM WC 2.74m x 2.29m
With a modern three piece suite.
BEDROOM ONE 3.48m x 4m
With radiator, dormer window and views of esplanade.
BEDROOM TWO 4.14m x 3.07m
With radiator, dormer window with sea and esplanade views.
BEDROOM THREE 4.1m x 2.26m
With radiator and dormer window with esplanade views.
OUTSIDE
Parking for one vehicle, brick paved outside seating with glass surround for 32 customers and rear roof top patio as described above.
VAT
We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of HMRC.
VIEWING
Strictly by appointment through the selling agents.
RATEABLE VALUE
£5,100 UBR, as of April 2019, 50.4p in the £ Our Rateable Value figure has been obtained from the Business Valuation website at the time of the property detail going to print, however, we would advise all applicants make their own enquiries via the Valuation Office or website regarding this figure.
Small Business Rate relief (100%) may apply as the Rateable Value is below £12,000.
COUNCIL TAX
First Floor - Band A
Second Floor - Band B
WANT TO KNOW MORE?
We recognise that buying a property is a big commitment and, therefore, recommend that you visit the local authority website (contact the branch for details) and the following websites for more helpful information about the property and local area before proceeding.
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