For Sale

Excellent Opportunity - Popular And Thriving Restaurant

Tiverton, Devon

£56,995

Ref: B04237

Contact sales negotiator

Jessica Aspinall

01204556307

Email Jessica Aspinall

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Description

Hilton Smythe is delighted to welcome to the market this very popular restaurant Blue Velvet in Tiverton Devon.

The business was established in 1975 and has been in our client’s very careful ownership for the past year.

Only now is the business being offered to the market due to our client’s ill health.

The restaurant is open 6 days per week and generates the turnover from freshly prepared meals including specials and traditional Sunday lunch.

The business has an excellent reputation and is renowned for its high-quality food and service, which has generated a very loyal client base with a lot of repeat trade and word of mouth referrals.

The business also hosts events and functions such as:

• Weddings
• Birthday celebrations
• Anniversaries
• Business lunch meetings

We feel there is scope to increase the turnover by extending the opening hours.

The business would also benefit from a small marketing campaign to advertise the business and cuisine offered.

We feel this is an excellent opportunity for a new owner to take this popular and thriving business to the next level therefore early viewing must come highly recommended to avoid disappointment.

Tenure

Leasehold

We are advised the business is being sold as a Leasehold.

Original lease length: 7 years.

Remaining lease length: new 10 year lease.

Review period: 3 years.

Rent: £12,500 per annum.

Hilton Smythe are advised the business doesn’t pay business rates.

Hours

Monday 9.30 am – 3.30 pm
Tuesday 9.30 am – 3.30 pm
Wednesday 9.30 am – 3.30 pm
Thursday Closed
Friday 9.30 am – 3.30 pm
Saturday 9.30 am – 4.00 pm
Sunday 11.00 am–4.00 pm

Staff

The business is run and managed by our client with the help on one full time member of staff.

Financial Profile

To be confirmed.

Location

Hilton Smythe is delighted to welcome to the market this very popular restaurant business in Tiverton Devon.

Tiverton’s revival in recent years began with the construction of the A361 (known as the North Devon Link Road) In the late 1980s.

In the 1990s, a new industrial estate was built at Little Gornhay on the north-eastern edge of the town, and a new junction was added to the Link Road, with a distributor road (now the A396) into the town, which has become its main gateway. Great Western Way, linking this road to the Exeter Road along the line of the old railway, These two roads opened up a new aspect to the town and paved the way for expansion.

Tiverton is centrally placed to visit the exceptionally stunning areas of Dartmoor and Exmoor, along with the North and South Devon Coasts.

Premises

The property is extremely well presented and decorated to a very high standard.

The restaurant area is located on the ground floor.

The business further benefits from a large commercial grade kitchen on the first floor.

Equipment,

• Buffalo grill
• Panini grill
• Tabletop fryer
• 2 stainless steel worktops
• EPOS system (new)
• Various fridge freezers
• 6 ring cookers
• Extractor system

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