Leasehold Restaurant In Newtown Powys For Sale

Business description

Bag a Business is delighted to offer this unique opportunity to purchase a fully fitted and equipped restaurant business, in such a prime trading location, within the centre of Newtown in Powys. The Pimento Restaurant occupies a grade 2 listed property and has undergone a substantial refurbishment programme, benefiting from an exceptionally high standard of fixtures and fittings throughout. The ground floor has a fully equipped commercial kitchen with a central bar servery, and tables and chairs for a minimum of 40 covers. This is a particular attractive purchase as the property also has spacious first-floor two double-bedroom private living accommodation. Due to our client's relocation to the south of England, the restaurant is not currently operating, but would suit a variety of cuisines and international styles. There is certainly scope to trade during the day, as well as having a separate evening menu. There has been a restaurant business established on the site since 1962, and the business is well known throughout the area for the provision of quality food.
The landlord is willing to assign a new transferable lease, at a length to be negotiated, with an annual rent of £12,000, including the living accommodation. This is a rare opportunity to purchase such a well equipped and ready to operate restaurant at such a competitive price. Early discussions with Bag a Business must come highly recommended.

Property information

Property:

Leasehold

Lease terms:

Leasehold
Original lease length: 5 years
Remaining lease length: 3 years
Review every 3 years
Rent: £12,000 including accommodation, per annum.

Nb. Landlord willing to assign entirely new lease if desired.

A full inventory of the business and specific fixtures and fittings can be supplied upon request

Living accommodation:

Substantial two-storey grade 2 listed property within the centre of Newtown. Briefly comprising: GROUND FLOOR Main entrance Foyer and reception area, feature oak beamed ceiling and walls timbers Gents WC Disabled WC Ladies WC Open-plan restaurant area with tables and chairs for 40 covers Central bar servery, fully equipped with chiller units, sink, electronic cash register, coffee machine and coffee grinder Commercial kitchen, well equipped with commercial grade of flooring, 6-burner range, grill, charcoal grill, double fryer, stainless steel air extraction, convector oven, various fridges and freezers Preparation and washing area with double commercial sink, industrial dishwasher, shelving and racking throughout, commercial grade flooring and rear exit door Boiler room with Worcester combi gas boiler Staff WC FIRST FLOOR Self-contained private living accommodation with period features and exposed beams throughout, and numerous original fireplaces: Landing Lounge 2 double bedrooms Office Bathroom comprising a bath with electric shower above, WC and basin. EXTERNAL Attractive wide frontage Rear yard and patio area with access from the restaurant lobby, tables and chairs for 30 external covers, external serving hatch through to restaurant and stone flagged flooring Additional dry goods store and preparation room, equipped with various fridges and freezers, tumble dryer, ice machine, shelving and racking and commercial grade flooring Freezer store.

Location:

Pimento Restaurant is in a prominent and highly desirable trading location on Parkers Lane in the centre of Newtown, Powys. The business occupies a substantial, period two-storey property with an attractive wide frontage, extensive rear courtyard, and patio areas with an additional 30 external covers. It is surrounded by a wide variety of other complementary shops and businesses, which attract a high daily footfall. It is very much in the hub of the town centre, with numerous public car parks in close proximity. The town is very much the destination retail and leisure location for all the surrounding towns and villages generating much regular repeat business and passing trade.