Freehold Fish & Chip Takeaway/Restaurant & Investment Property In Newquay
Penthouse Apartment & 3 Rental Flats (Expected Rental Income £38,280 pa)
Café & Dessert Parlour Producing Income of £11,500 pa
This outstanding and well respected Fish & Chip Restaurant is located on Cliff Road in Newquay town centre. It stands within a prominent and highly visible trading position next door to Aldi supermarket and opposite, Newquay train station and Asda supermarket which bring high levels of footfall to the area. Newquay is one of the nation’s favourite seaside towns, perched on Cornwall’s Atlantic cliffs and bordered by 7 miles of glorious golden sandy beaches. The town manages to be both trendy and yet remains a great family resort all wrapped up in the most fantastic coastal scenery.
Freehold Asking Price: £1,399,999 plus SAV (5,000)
Veritas Business Sales are delighted to offer for sale this outstanding Freehold Fish & Chip Restaurant that comes with a café producing rental income, 3 rental flats and a penthouse apartment which is located in Newquay town centre. The business was established back in 1980 and has been in the careful ownership of our clients since September 2018. The business is reluctantly being offered for sale due to an unforeseen change in circumstances. Since ownership they have completely refurbished, redecorated and invested in all brand new equipment along with fixtures and 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. The Fish & Chip Shop is managed with the help of 1 full time and 7 part time members of staff and is on target to turnover circa £700,000 this year with a GP (upwards of 65%). The Cod End is renowned in Cornwall for serving high quality fish & chips where they only use the finest produce and can be enjoyed in the recently renovated 72 seater restaurant which benefit from stunning Atlantic ocean views or can simply be taken away. The owners have recently opened Cafeaccino’s Café & Dessert Parlour next door which has now been leased out producing rental income of £11,500 pa. The property also comes with 3 rental flats which are currently vacant through choice of the owner but can easily be rented for £27,540 pa. The penthouse apartment also vacant can be rented for £10,740 pa. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade local trade along with high levels of visiting tourists during summer months. This is a rare opportunity to purchase very well established business with an impeccable reputation and all the hard work has been done and is a great base to build upon and as such early viewing is highly recommended as this gem is not to be missed.
Monday – Saturday – 12.00pm – 9.00pm
Sunday – 12.00pm – 8.00pm
Fish & Chip Restaurant/Takeaway
Takeaway (9.2m x 5.0m) comprising: 4 wall mounted TV monitors (menu boards), 2 EPOS tills,, 3 door under counter drinks fridge (Polar), 8 under counter glass door fridges (Blizzard), commercial microwave (Sharp), 2 four pot bain-marie (Lincat), full length stainless steel counter with wash basin, single fryer, panini toaster (Buffalo), espresso coffee machine (Carmiali), milk machine (Carmiali), 4 pan frying range with built in filtration (Henry Nuttall), combi boiler, extraction canopy, various shelving, independent filtration unit and upright 2 door drinks fridge (Polar).
Restaurant (10.0m x 8.6m) comprising: 18 tables with seating and for (72), wall mounted TV screen (Techwood) and 2 children’s high chairs.
Prep Room (2.1m x 10.7m) comprising: upright stainless steel double freezer (Polar), upright double glass door freezer (Polar), microwave (Sharp), 4 ring hob (Lincat), various shelves, prep table, eco dishwasher (Winter Halter), chipper (Hopkins), potato rumbler (Williams), sink with drainer and directional hose, white fish fridge (polar), large upright fridge (Polar), food mixer (Bold) and 3 large chip bins.
Disabled W/C with wash basin and hand rails.
Storeroom with various shelving.
Lease out producing £11,500 pa rental income
Original term: 6 years
Remaining: 6 years
Rent: £11,500 pa
Kitchen (9.2m x 3.3m) comprising: oven (Adexa), freezer (Logik), dual fryer, 3 door stainless fridge (Gastro-line0, dish washer (asbei), sink with drainer and directional hose, microwave (Samsung), trolley, wash basin, various shelving, 3 stainless steel prep tables, 2 door chiller unit with salad bar (Infrico), 3 commercial waffle irons (Waring), 3 commercial crepe plates (Adexa), EPOS till system, milk shake machine (Waring), drinks fridge (Polar), coffee machine and ice cream chiller display unit (ISA).
Takeaway/Restaurant (6.1m x 7.9m) comprising: 6 tables with seating for (24), 4 TV monitors (menu boards), (JVC), 2 door upright fridge (Polar), drinks fridge and 2 children’s high chairs.
Storeroom (3.0m x 5.0m) comprising: various shelving, microwave (Samsung), commercial mixer (Blue Seal), stainless steel prep table, large glass 2 door freezer, white chest freezer.
W/C with wash basin and wall mounted mirror.
Flat 1 (3 bedroom) Expected rental income £850 pcm
Kitchen (3.0m x 2.9m) with fitted kitchen units
Lounge/Dining room (3.9m x 5.5m) with outside patio and views over the ocean
Bedroom 1 (5.7m x 2.6m) double
Bedroom 2 (3.1m x 3.4m) double
Bedroom 3 (1.8m x 3.0m) single
Bathroom (2.5m x 2.0m) with bath, shower, w/c and wash basin
Flat 2 (3 bedroom) Expected rental income £795 pcm
Kitchen (3.1m x 3.4m) with fitted kitchen units
Lounge /Dining room (4.7m x 5.1m) with outside patio and views over the ocean
Bedroom 1 (2.2m x 4.2m) double
Bedroom 2 (3.0m x 5.0m) double
Bathroom (2.8m x 1.8m) with bath/shower, w/c, and wash basin
Flat 3 (1 bedroom) Expected rental income £650 pcm
Kitchen (3.1m x 5.4m 3.4m) with fitted kitchen units
Lounge dining room (5.4m x 3.4) with outside patio and views over the ocean
Bedroom 1 (4.1m x 3.0m) double accessed by stairs
Bathroom with shower, w/c and wash basin
Penthouse (2 bedroom) Expected rental income £895 pcm
Lounge/Dining/Kitchen (8.3m x 5.4m)
Bathroom (1.9m x 1.9m) with bath/shower, w/c and wash basin
Bedroom 1 (5.3m x 3.7m) double
Bedroom 2 (3.7m x 3.5m) double
Large patio (8.8m x 4.5m) with views over the ocean
(All rental incomes valuations for all apartments was given by a local fully authorised estate agent Start & Co)
The property benefits from double glazing and gas fired central heating.
EPC Rating D
Frontage with tables to cover (30) Rear yard with insulated potato store and storage shed