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Property Listing Details

Property details

Features

  • Exciting opportunity to take over existing restaurant business
  • Centrally located in prominent premises
  • Established since 2011
  • Scope for improvement and growth
  • Strong local and tourist trade

Listing view statistics

Last 30 days: 563 page views

Since listed: 2626 page views

Description

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.

Directions 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 Business 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.

Ground floor 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 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.

Second Floor The second floor is used as a private zone with separate office and store area.

Services All mains services connected.

Business Rates 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 Lease 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.

Floorplan

Map & Nearby

Local Amenities

  • Bideford Ferry Landing 19.7 miles
  • Bude Primary Academy - Infants 0.3 miles
  • Bude Primary Academy � Juniors 0.4 miles

Local map of the area

Map and Street View Map showing location of property

Local Amenities

  • Bideford Ferry Landing 19.7 miles
  • Bude Primary Academy - Infants 0.3 miles
  • Bude Primary Academy � Juniors 0.4 miles
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Estimated running costs

Based on available 3rd party data

Approximate costs
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per month

  • Mortgage £ p/m
  • Energy Not known
  • Home insurance Not known
  • Water Not known
  • Council tax Not known

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The Agent

Price history

Sold prices provided by Land Registry
16th May 2018 £30,000 Price reduced by £19,995
20th Jan 2018 £49,995 Price reduced by £10,000
21st Aug 2017 £59,995 Price reduced by £10,000
7th Jul 2017 £69,995 First listed

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Property descriptions and related information displayed on this page are marketing materials provided by Colwills Estate Agents. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Colwills Estate Agents for full details and further information.