THE GLASSHOUSE, EDDYSTONE ROAD, WADEBRIDGE, PL27 7AL
THE GLASSHOUSE, EDDYSTONE ROAD, WADEBRIDGE, PL27 7AL
• • • • • •
PROMINENT LICENSED RESTAURANT (CIRCA 140 COVER) SUPERBLY PRESENTED & EQUIPPED PRIME TRADING LOCATION CONSISTENT SALES & PROFITS REMAINDER OF RENEWABLE LEASE EPC (D)
£170,000 LEASEHOLD
B38809
LOCATION The Glasshouse occupies a prominent trading location on Eddystone Road in Wadebridge, one of the principal vehicle pedestrian thoroughfares into the attractive North Cornish market town of Wadebridge, which is well known as being on the Camel Estuary, flowing out to Rock and Padstow. Wadebridge has seen significant investment in recent years in residential and commercial development and is generally considered a very popular small town in which to live and work and draws on high levels of visitors both in and out of the season. THE PROPERTY/BUSINESS The Glasshouse has been in our clients tenure for the past circa eight years, trades all year, 10am to 10pm Monday to Saturday, closing on Sunday and with closure on Monday and Tuesday evenings in the winter. The business is described as being an all day cafe, bar and grill serving Mediterranean food, fish and meats and has a trade split of approximately 80% dry sales and 20% wet sales. During our clients tenure they have consistently invested in the presentation and equipping of the business, with the most recent addition of the conservatory and upgraded outdoor seating, to provide circa 140 covers and behind the scenes there is an extremely well equipped commercial kitchen and service areas. At the time of writing we are advised the turnover for the year end March 2016 is in the region of £457,000 (net of VAT) and the business consistently has a target gross profit level of circa 67%, further accounting information will be made available subsequent
to a viewing appointment in the normal manner. The business is being sold with the residue of a 20 year Lease commenced August 2002, which enjoys the Security of Tenure under the Landlord and Tenant Act Provisions and therefore is automatically renewable at the end of this duration. This is an exciting opportunity to acquire a well established and prominent business within this desirable market town. For further information regarding The Glasshouse in terms of its menu etc please see the website www.glasshousewadebridge.co.uk THE ACCOMMODATION COMPRISES (all areas and dimensions are approximate) ENTRANCE FOYER 3.60m x 3.81m (average), a charming covered entrance to the business, with slate floor, high ceiling with chandelier and with doors off to disabled wc (with baby changing facility), ladies and gents wcs. RECEPTION, SEATING AREA & BAR 6.81m x 5.53m, very welcoming introduction to the business, with raised seating area with leather settees, bar with polished worktop and one dispensing tap, service station and desk area for welcoming customers. MAIN RESTAURANT AREA 7.14m x 6.84m, an impressive dining area set up for circa 50 covers, with a further raised seating area with an additional 10 covers. Through to:CONSERVATORY
B38809
6.38m x 4.74m, with windows to three elevations overlooking the outside seating and towards the town, set up for circa 36 covers.
building) at a cost of £500 per quarter. The business is held on a proportional full repairing and insuring basis.
COMMERCIAL KITCHEN 5.93m x 4.31m, with commercial non-slip flooring, wipable plastic walls, a very well equipped commercial kitchen, principal equipment including 6 ring gas oven with double oven below, 5 vent extraction system over, double pizza oven and pizza fridge, pass through dishwasher. Door to:-
GENERAL INFORMATION
WINE STORE 2.46m x 2.17m, door to rear elevation. COLD ROOM/DESSERT SECTION 3.68m x 2.75m, with walk in cold room. STAFF ROOM 3.76m x 1.60m, washing machine, tumble dryer, staff cloakroom. FIRST FLOOR STORE Accessed via external staircase 3.94m x 2.69m, window to side elevation, three chest freezers and wall racking. OUTSIDE REAR Three car parking spaces and bin store etc. To the front of the property is a charming outside seating area for circa 40 covers with two gas heaters. TENURE - LEASEHOLD Remainder of 20 year Lease commenced 30th August 2002, for an initial period of 20 years, which enjoys the Security of Tenure Provision, i.e. Automatically renewable and has a 3 year rent review. We are advised the current passing rental is £8,700 per quarter and in addition our clients rent a store room (under the same
CONTACT INFORMATION For further information or an appointment to view please contact Graham Timmins on 01872 247019 or via email [email protected] LOCAL AUTHORITY Cornwall Council General Enquiries 0300-1234-100 Planning 0300-1234-151 www.cornwall.gov.uk ENERGY PERFORMANCE CERTIFICATE The Energy Performance Rating for this property is within Band D. INVENTORY An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts. PREMISES LICENCE We understand the business currently holds a Premises Licence in respect of the sale of intoxicating liquor on the premises. BUSINESS RATES We refer you to the valuation office website www.voa.gov.uk or call 0300-1234-171 SERVICES Prospective owners should make their own enquiries of the appropriate statutory undertakers: Western Power: 0845 601 2989 South West Water: 0800 169 1144
B38809
Transco: 0800 111 999 STOCK To be taken at valuation VALUE ADDED TAX All the above prices/rentals are quoted exclusive of VAT, where applicable.
PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate. AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent. Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39. VIEWING: Strictly by prior appointment through Miller Commercial.
ESTATES GAZETTE Awarded MILLER COMMERCIAL Cornwall’s Most Active Agent 2011 - 2012 - 2013 - 2014 - 2015
• • • • • •
PROMINENT LICENSED RESTAURANT (CIRCA 140 COVER) SUPERBLY PRESENTED & EQUIPPED PRIME TRADING LOCATION CONSISTENT SALES & PROFITS REMAINDER OF RENEWABLE LEASE EPC (D)
£170,000 LEASEHOLD
B38809
LOCATION The Glasshouse occupies a prominent trading location on Eddystone Road in Wadebridge, one of the principal vehicle pedestrian thoroughfares into the attractive North Cornish market town of Wadebridge, which is well known as being on the Camel Estuary, flowing out to Rock and Padstow. Wadebridge has seen significant investment in recent years in residential and commercial development and is generally considered a very popular small town in which to live and work and draws on high levels of visitors both in and out of the season. THE PROPERTY/BUSINESS The Glasshouse has been in our clients tenure for the past circa eight years, trades all year, 10am to 10pm Monday to Saturday, closing on Sunday and with closure on Monday and Tuesday evenings in the winter. The business is described as being an all day cafe, bar and grill serving Mediterranean food, fish and meats and has a trade split of approximately 80% dry sales and 20% wet sales. During our clients tenure they have consistently invested in the presentation and equipping of the business, with the most recent addition of the conservatory and upgraded outdoor seating, to provide circa 140 covers and behind the scenes there is an extremely well equipped commercial kitchen and service areas. At the time of writing we are advised the turnover for the year end March 2016 is in the region of £457,000 (net of VAT) and the business consistently has a target gross profit level of circa 67%, further accounting information will be made available subsequent
to a viewing appointment in the normal manner. The business is being sold with the residue of a 20 year Lease commenced August 2002, which enjoys the Security of Tenure under the Landlord and Tenant Act Provisions and therefore is automatically renewable at the end of this duration. This is an exciting opportunity to acquire a well established and prominent business within this desirable market town. For further information regarding The Glasshouse in terms of its menu etc please see the website www.glasshousewadebridge.co.uk THE ACCOMMODATION COMPRISES (all areas and dimensions are approximate) ENTRANCE FOYER 3.60m x 3.81m (average), a charming covered entrance to the business, with slate floor, high ceiling with chandelier and with doors off to disabled wc (with baby changing facility), ladies and gents wcs. RECEPTION, SEATING AREA & BAR 6.81m x 5.53m, very welcoming introduction to the business, with raised seating area with leather settees, bar with polished worktop and one dispensing tap, service station and desk area for welcoming customers. MAIN RESTAURANT AREA 7.14m x 6.84m, an impressive dining area set up for circa 50 covers, with a further raised seating area with an additional 10 covers. Through to:CONSERVATORY
B38809
6.38m x 4.74m, with windows to three elevations overlooking the outside seating and towards the town, set up for circa 36 covers.
building) at a cost of £500 per quarter. The business is held on a proportional full repairing and insuring basis.
COMMERCIAL KITCHEN 5.93m x 4.31m, with commercial non-slip flooring, wipable plastic walls, a very well equipped commercial kitchen, principal equipment including 6 ring gas oven with double oven below, 5 vent extraction system over, double pizza oven and pizza fridge, pass through dishwasher. Door to:-
GENERAL INFORMATION
WINE STORE 2.46m x 2.17m, door to rear elevation. COLD ROOM/DESSERT SECTION 3.68m x 2.75m, with walk in cold room. STAFF ROOM 3.76m x 1.60m, washing machine, tumble dryer, staff cloakroom. FIRST FLOOR STORE Accessed via external staircase 3.94m x 2.69m, window to side elevation, three chest freezers and wall racking. OUTSIDE REAR Three car parking spaces and bin store etc. To the front of the property is a charming outside seating area for circa 40 covers with two gas heaters. TENURE - LEASEHOLD Remainder of 20 year Lease commenced 30th August 2002, for an initial period of 20 years, which enjoys the Security of Tenure Provision, i.e. Automatically renewable and has a 3 year rent review. We are advised the current passing rental is £8,700 per quarter and in addition our clients rent a store room (under the same
CONTACT INFORMATION For further information or an appointment to view please contact Graham Timmins on 01872 247019 or via email [email protected] LOCAL AUTHORITY Cornwall Council General Enquiries 0300-1234-100 Planning 0300-1234-151 www.cornwall.gov.uk ENERGY PERFORMANCE CERTIFICATE The Energy Performance Rating for this property is within Band D. INVENTORY An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts. PREMISES LICENCE We understand the business currently holds a Premises Licence in respect of the sale of intoxicating liquor on the premises. BUSINESS RATES We refer you to the valuation office website www.voa.gov.uk or call 0300-1234-171 SERVICES Prospective owners should make their own enquiries of the appropriate statutory undertakers: Western Power: 0845 601 2989 South West Water: 0800 169 1144
B38809
Transco: 0800 111 999 STOCK To be taken at valuation VALUE ADDED TAX All the above prices/rentals are quoted exclusive of VAT, where applicable.
PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate. AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent. Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39. VIEWING: Strictly by prior appointment through Miller Commercial.
ESTATES GAZETTE Awarded MILLER COMMERCIAL Cornwall’s Most Active Agent 2011 - 2012 - 2013 - 2014 - 2015
