An exciting opportunity for someone to take on this well established and centrally located restaurant, cafe and function business, which is found with great frontage in the heart of the coastal town of Bude. Waves was established in 2011 by the current owners and caters to a strong local network of customers as well as the ever increasing tourists throughout the summer months. The premises trade over two floors and provide a spacious 60 covers with room for more if required. An excellent location for either an owner trader or potentially a large chain given this central position.
From our office walk down to the end of Queen Street and then turn right onto Lansdown Road. Waves is found down the hill on the left-hand side opposite The Triangle.
The current business continues to trade and has done so since set up by the owners in 2011. The existing business caters for both a strong local customer base, as well as the thriving tourist industry predominately throughout the summer months. The lease on the building will renew in 2020, but the landlord may consider a new lease if required (subject to terms and conditions). Business accounts are held at the selling agents office and are to be viewed by appointment only.
The main restaurant and serving area is immediately as you enter the premises, with a large shop frontage looking back towards The Triangle and down the main road into town. Within this area is the service counter and main seating zone, with a door leading to a WC. Steps lead up to a further seating and dining area, providing a more intimate dining zone. A door then leads into the kitchen and stairs ascend to the first floor. There are approximately 30 spacious covers in this area.
The kitchen is fitted with an extensive range of commercial appliances, cookers, fryers, extractors, sinks and refrigeration appliances. Most of this is included within the lease and annual rent. For full inventory, please contact the agent.
First Floor Dining
Stairs lead up to a first floor area with two store rooms, a further two WC facilities and a large dining area which is used as overflow dining during the busy periods and also as a separate function room to provide additional income. Two bay windows look out to the front and a further staircase leads to the second floor. There are approximately 30 spacious covers in this area.
The second floor is used as a private zone with separate office and store area.
All mains services connected.
We are advised that the business is currently exempt from business rates, but this could change depending on the new buyer and any other business interests they may have, or changes within the rating department.
Rateable Value 2010: £11,500
The business is for sale with the remainder of a 9 year lease, which commenced in 2011. This lease will renew in 2020. Alternatively, we are advised the landlord would consider a new lease subject to terms and conditions. The current rent payable is £27,500 plus VAT, which includes various fixtures and fittings.
The property misdescriptions act 1991: Whilst we as agents endeavour to ensure the accuracy of property details produced and displayed, we have not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are connected, in working order or fit for the purpose. A buyer is advised to obtain verification from their solicitor or surveyor. References to the tenure of the property are based on the information by the seller. The agent has not had sight of the title document. The buyer is advised to obtain verification from their solicitor. Items shown in photographs are not included unless specifically mentioned in the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.
Floor plans & maps: Please note that if floor plans are displayed they are intended as a general guide
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