Restaurant/cafe for sale in Museum Square, Keswick CA12

Leasehold restaurant in busy lake district town

• Fully licensed established restaurant with 52 dining covers
• Broad fare menu with local and seasonal specials
• Turnover £388,000 net in the last financial year
• Town centre location with ample tourist and local trade
• Lease includes spacious first floor flat

Overview
Thyme Bistro offers an extensive A La Carte menu as well as various seasonal specials and local seafood and a wide selection of wines are offered. The full licensed restaurant is situated in the centre of a very popular Lake District tourist town with a high proportion of tourist custom, trading 5 days a week from 5.00pm to 9.30pm. The business operates with the two current proprietors, a full time chef and part time support staff. Acquired by the current owners in 2019 they have revamped the restaurant and increased trade following the Covid Pandemic to a turnover of £388,000 net of VAT in the year to 31 July 2022. As well as an established existing business there is scope to expand the current trading hours. The current proprietors are now seeking to retire. Full accounts will be made available to bona fide applicants, after viewing.

Location
Keswick is a busy tourist town, situated in the northern Lake District on the shore of Derwentwater and surrounded by Lakeland Fells, with a population of around 4,200. Originally a quarrying and wool producing town, it had a pencil factory until recently but the local economy is now based mainly on visitors. It is 23 miles from the M6 at Penrith via the A66. Local facilities include a secondary school, many independent shops, museums, eateries, pubs, parks, the Theatre by the Lake, a cinema and Lake cruises. Major retailers in the town include Mountain Warehouse, Blacks, Friars, Cotswold Outdoor, Peter Rabbit & Friends, Booths, Lakes and Dales Co-operative and George Fisher. The restaurant is situated in Museum Square, a pedestrianised precinct just off the main street, in the town centre.

Description
Restaurant (9.94m max x 9.67m max) with tables, fixed bench and loose chairs seating, for around 52 dining covers, modern décor with high ceilings and drop down light fittings and bar servery.
Ladies & Gents Toilets.
Catering Kitchen (5.60m x 4.88m), fully equipped including 1 six ring range, twin gas fryer, twin deck pizza oven, stainless steel deep sink units and range of other stainless steel catering equipped to be listed in an inventory.
Store.
Rear Parking for 2-3 staff cars

First Floor
Flat including Kitchen with units, Bathroom, 2 Spacious Reception/ Bedrooms.

Services
We are advised that mains water, electricity, gas and drainage are connected to the property. No warranty is given regarding the working order of any appliances or services referred to in these particulars.

Rates
Description in list: Restaurant & Premises
Rateable Value: £19,500
Council Tax: Band C
The rateable value is not the rates payable and prospective tenants or purchasers should make their own inquiries with respect to the rating liability.

Tenure
The property is held on 10 year lease from 10 May 2019 at a current rent of £17,500 per annum, with a rent review on 10 May 2024. A service charge is payable in addition for the upkeep of the common areas within the centre. A prospective purchaser/ ingoing tenant will need to be approved by the landlord before the lease can be assigned.

Note that these are the main extracts from the lease as a guide only and a purchaser/ tenant must satisfy himself of all provisions by inspecting a copy of the lease which can be provided by the agents.

Fixtures & Fittings
Included in the sale is an inventory of trade fixtures, fittings, equipment and furnishings. Any items not included in these particulars or the inventory are excluded. Stock will be valued separately and taken on completion.

Energy Performance Certificate
Energy Rating: D.
A copy of the EPC is available on our website.

Legal Costs
The purchaser/ ingoing tenant will be expected to pay the landlord’s and lessees reasonable legal costs in connection with the assignment of the lease. Each party will bear it’s own costs in connection with the transfer of the business.