Falmouth, TR11

Leasehold Tapas Restaurant & Bar Located In Falmouth

Ref 2318

Location

This delightful Tapas Bar is located in the vibrant harbour town of Falmouth which offers a variety of blue chip and niche independent retailers and has benefitted from significant investment in recent years in its commercial and residential infrastructure along with Falmouth University. The business occupies a fantastic trading position in Events Square next to Pizza Express and Rick Steins Fish & Chip Restaurant and is only a short walk from the marina and Maritime Museum. Falmouth has recently been voted as one of the most desirable places to live in the UK.

Business information

Asking Price: £169,950 plus SAV

Turnover: above £400k

Stock: £2,000

Business Description

Veritas Business Sales are delighted to offer for sale this very busy Tapas Bar which is located in the harbour town of Falmouth, Cornwall. The business was established by our clients back in June 2018 and is reluctantly being offered for sale so that they can enjoy a well deserved retirement. Since ownership they have undertaken a complete refurbishment of the Bar/Restaurant and kitchen and invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. Lemon Twist Tapas Bar is owner operated and employs the help of 2 full time and 5 part time members of staff and has an estimated annual turnover of £400,000 (having turned over £175,000 in the first 7 months, June - end of December). They serve simple rustic fresh tapas with a fusion of classic Mediterranean cooking along with fresh local Cornish sea food. All fayre is freshly prepared to order on site using only the finest local produce. The bar serves local beers and wines as well as cocktails and fresh local coffee & homemade cakes. The restaurant benefits from its own private function room as well as a Grand Piano in the main bar. The opportunity to eat alfresco looking across the marina is very popular in the Summer months. We believe that there is further potential to increase trade should you wish to do so by promoting the function room and extending the external seating area. The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many visiting tourists. This is a superb opportunity to purchase a growing business with further potential which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.

Opening Hours

Sunday - Tuesday - midday - 11.00pm

Wednesday - Saturday - midday - midnight

Leasehold

Original term: 7 years Remaining : 6 years 4 months Rent: £28,000 pa Reviewed: 3 years Business rates: £10,000 pa

Ground Floor

Bar/Restaurant (13.5m x 5.7m) comprising: 16 tables & chairs to cover (50), various pictures and various menu boards.

Bar comprising: espresso coffee machine (Sanremo), coffee grinder, electronic cash register, under counter fridge (Beko), 3 x under counter drinks fridges (Blizzard), stainless steel fridge, glass washer (Comenda), ice making machine (Whirlpool), blender, 6 x stainless steel champagne buckets, sink drainer, grand piano and wooden baby chair.

Toilet/Disabled (3.2mx 2.3m) with W/C, wash basin, shelving, wooden table and wall mounted mirror.

Kitchen (4.0m x 2.9m) comprising: 3 x single deep fat fryers (Blizzard), hot plate (Blizzard), 2 x induction hot plates (Blizzard), grill (Blizzard), 2 x three door stainless steel chiller units with marble tops, display fridge (Blizzrard), wash basin, plate warming cupboard (Lincat), oven (Blizzard), 2 x stainless steel tables (Parry), various kitchen utensils, large extraction unit, toaster (Dual) and various stainless steel shelves.

Preparation room (3.6m x 4.1m) comprising: 2 x sinks with drainer, stainless steel prep table, white upright freezer (Blizzard), CCTV system and small store cupboard.

Function room (8.0 x 4.1m) comprising: 5 tables & chairs to cover (30), various wall pictures, electronic cash register, bar/serving counter, under counter drinks fridge (Adeka) and mood lighting. Passage way (2.9m x 2.5m) with two seater settee and wooden shelving unit. Beer store (1.5m x 2.0m) with various shelves.

External

Seating area with 6 tables & chairs to cover (30) with views over the marina.