Restaurant/cafe to let in The Strand, Barnstaple EX31

This 1650 property occupies a wonderful location overlooking the refurbished Strand, Queen Anne's Walk and riverside walks which is now a pleasant public area largely a traffic free boulevard. Therefore the property overlooks a public park environment with lawns and terraces and beyond, the River Taw estuary. In the Strand are numerous businesses including a public house owned by Wetherspoons, a bridal gown shop, it company, estate agents etc. The Strand is very much in the heart of the Barnstaple and the thriving community and is is fast becoming the "foodie quarter" of the town.

Barnstaple is North Devon's premier commercial centre having a population of some 27,000 inhabitants. It is perhaps most famous for the Pannier Market, where regular markets are still held and Butchers Row with its authentic shops. The town also has an enclosed shopping precinct called Green Lanes and on the outskirts of town are numerous supermarkets.

The property

The Old Custom House is the oldest building on The Strand and is a 17th Century Grade II listed building. Over the years it has been occupied by private individuals as a house, general store and continued as a shop until 1995 when part of the shop became a tea room. It has traded most recently as a successful specialist burger restaurant. It is now available with vacant possession and offers the opportunity to acquire this leasehold property and establish a new catering business.

The ground floor of the property has a front bar/reception area with seating for 12 customers, to the middle section there is a dining area with seating for 18 customers and to the far end are the ladies and gents cloakrooms and store room with access to an enclosed courtyard for al fresco dining. To the first floor there is a minstrel gallery with seating for 12 customers and a panelled dining room with seating for a further 22 customers. Off the landing is the well-equipped commercial kitchen.

The property is now available with vacant possession and has an established reputation over the last few years as a quality venue for fine dining. It is considered that an incoming purchaser with some catering experience will see the potential to develop this into a local venue for a high class restaurant and we strongly recommend early enquiries to avoid disappointment.

Tenure

The premises will be made available on the basis of a brand new lease at a commencing rental of £15,000 per annum with an ingoing premium of £10,000. Thereafter a turnover rent will be considered. The term of the lease is to be agreed between the parties and the incoming tenant will need to provide the usual bank and trade references for Landlords approval.

Agents note

Our client will be prepared to consider a possible private funding package or possible equity/risk enterprise participation for the right applicant. Full details available on request.