Restaurant for sale

Leasehold Thai Restaurant Located In Looe, East Cornwall
Award Winning
Awarded “Thai Select” Seal Of Approval For Thai cuisine

Ref 3026

Asking Price £149,950 plus SAV

Location
This outstanding Thai Restaurant is located in the highly desirable harbour town and fishing port of East Looe in South East Cornwall. Its prominent and highly visible location gives easy access to the many visiting tourists and enjoys stunning views across the estuary. Looe manages to be trendy and yet remains a great family resort with many restaurants and shops to visit all year round. Looe is (20 miles) west of Plymouth and (7 miles) south of Liskeard, divided in two by the River Looe, East Looe and West Looe being connected by a bridge.

Business Description
Veritas Business Sales are delighted to offer for sale this very popular award winning Thai Restaurant which is located in the fishing village of Looe, East Cornwall. The business has been established for over 20 years and has been in the careful hands of our clients for the past 10 years. The business is now being offered for sale so that our clients can enjoy a well deserved retirement. Since ownership they have undertaken a complete refurbishment and invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. Ocean & Earth Thai Restaurant is owner operated and employs the help of 1 part time member of staff and for year ending October 2023 had an annual turnover of £244,146. They serve the finest and most authentic Thai cuisine, the restaurant is cosy and friendly with the waiting staff having an extensive knowledge of Thai food, the chef is Thai and has a lifetime of experience in preparing and cooking her native food and has been given the award of “Thai Select” by the Thai Government. All fayre is freshly prepared to order on site using only the finest local produce.
We believe that there is further potential to increase trade should you wish to do so as they do not currently open in the day for lunch despite large demand during the holiday season. The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many visiting tourists. This is a superb opportunity to purchase a growing business with further potential which is a great base to build upon and as such early viewing is highly recommended.

Opening Times
Monday - Sunday - 17:30 - 21:00

Leasehold
Original term: 12 years
Remaining : 8 years
Rent: £16,800 pa inc vat
Reviewed: 3 yearly
Business rates: zero

Ground Floor
Restaurant (6.5m x 6.3m) comprising: tables and chairs to cover (30), reception counter, various Thai ornaments, various pictures, under counter drinks fridge and various shelves.
Kitchen (6.3m x 2.5m) comprising: undercounter hot cupboard (Lincat), 2 tabletop fryers (Buffalo), 6 burner stove (Falcon), extraction unit, stainless steel prep table, upright fridge (Pola), upright freezer (polar), upright fridge freezer (Indesit), 2 x sinks with drainers, dishwasher (DC Series), microwave (Morphy Richards), wash basin, rice cooker (Buffalo), various kitchen utensils and stainless-steel prep table.
Storeroom (1.0m x 2.0m) with various shelving.
Toilet (1.5m x 2.0m) with w/c, wash basin and wall mounted mirror.

External
Frontage with tables and chairs to cover (8).

EPC Raring E