Restaurant/cafe for sale in Highgate, Kendal LA9

Thai restaurant business

• Licensed 66 cover town centre restaurant
• Excellent trading position
• Turnover £306,000 net of VAT
• Thriving town at the gateway to the Lake District

The Business
The restaurant is situated in the centre of the thriving edge of Lake District market town of Kendal and is tastefully laid out providing a Thai style menu and ambience being part of a group of Thai restaurants in the south Lakes.

The fully licensed venue has been trading since 2008 and operates for 6 nights from 5.00pm to 10.00pm (10.30pm on Friday and Saturday) with 3 full time and up to 5 part time staff.

The turnover in the year ended 30 April 2022 was £306,638 net of VAT. Abridged accounts will be made available to bona fide applicants, normally after viewing.

The reason for sale is the the owners are wishing to downsize their operation and commitments and other venues may be available.

Location
Kendal is a market and tourist town, situated in south Cumbria at the gateway to the Lake District National Park, with a population of around 28,600. Originally a wool producing town, it is now a centre for shopping, farming and tourism. It is 9 miles from the M6 J36 via the A591, and 19 miles north of Lancaster and has a railway station on the West Coast Main Line at Oxenholme just outside the town. Local facilities include two secondary schools, a wide selection of independent shops, cafes, pubs, a further education college, a leisure centre, a castle ruin and an auction mart. Major retailers in the town include Sports Direct, Peacocks, Next, Marks and Spencer, Booths, B&M, Morrisons, Aldi and Matalan. The restaurant is situated fronting Highgate, the main thoughfare and shopping street in the town centre.

The Property
The restaurant is situated in a 300-year old traditional town centre property with the following accommodation:

Ground Floor
Front Dining Area (4.28m x 9.26m) with tables and chairs for 16 covers, bar servery, featured stone and panelled walls and stairs to Ladies and Gents Toilets on the first floor.

Main Dining Area (4.17m x 16.87m) with tables, chairs and bench seating for 50 covers, ornamental beams and decorative Thai style features and lighting.

Staff WC

Basement Floor
Catering Kitchen (3.64m x 14.82m) with non-slip floor, PVC panel wall covering, extractor, walk in fridge, storage and prep areas and a full range of catering equipment to be detailed in an inventory.

All references to areas and dimensions are deemed to be approximate.

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.
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.

Rates
Description in list: Restaurant & Premises
Rateable Value (2023 List): £16,000

The rateable value is not the rates payable and prospective tenants or purchasers should make their own inquiries with respect to the rating liability.

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

Tenure
The property is held on a 15 year lease which expires on the 1 December 2024 at a current rent of £18,500 per annum. The landlord has indicated a new lease would be granted to the buyer of the business subject to agreement of terms at a similar level of rent. A prospective purchaser/ ingoing tenant will need to be approved by the landlord. A digital copy of the existing lease can be obtained by contacting the agents.