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Beautifully Presented Italian Restaurant In Teignmouth For Sale

Teignmouth, Devon
Asking Price:
£59,950
Sales Revenue:
£100K - £200K
Cash Flow:
Not applicable

Fresco Italian Restaurant has been established for approximately 10 years. During this time it has become an extremely popular year round restaurant housed within a well-kept listed building. The ground floor restaurant has been sympathetically refurbished, enhancing the original features and incorporating the modern whilst reflecting its Italian style and flair. Over recent years, the owners have been able to reduce their trading hours to suit their own lifestyle with Fresco currently trading 5 evenings a week, Wednesday through to Sunday, for 45 weeks. They have also, due to the success of the business, been able to provide the current staff with extra hours, allowing my clients more free time. This delightful premises comes with the benefit of self-contained owners’ accommodation on the 1st, 2nd and 3rd floors. The maisonette has again been beautifully refurbished incorporating both the Italian rustic feel with the modern. The front of this 4 storey building retains the original bow windows and porthole style window to the top floor. The rear of the building is not listed and therefore has been updated with modern double glazed units. From the top floor bedroom there is also a magnificent panoramic view over Back Beach towards Shaldon, the estuary and out towards Shaldon bridge. The premises provide a beautiful home and income opportunity.

Property Information

Property:

Leasehold

Location:

Teignmouth is a well-known and popular seaside resort, situated on the North bank of the estuary of the River Teign in South Devon. Teignmouth has a thriving local community which swells considerably during the summer months. The town is well connected via Shaldon Bridge to Shaldon and on to Torbay and to the North is the County town of Exeter which is approximately a 20 minute drive. Exeter is linked by an airport, train station and M5 to the rest of the country. Fresco is located on Northumberland Place, a central location with easy access from both the seafront and Back Beach areas.

Premises Details:

The premises comprise:-

Edwardian style double frontage
with side entrance leading into the

entrance hall
providing access to the owners’ accommodation and the main trade area.

Main trade area
spaciously providing covers for 21 at solid wood tables and high backed chairs, with potential to comfortably seat 26. The restaurant has black and white tiled floor, industrial style pendant lighting and 2 dimplex ceiling mounted heating units. Feature wall with exposed brick and wood beams and inset provence charcoal burner, central feature wall showcasing the original wooden structure of the building. Step up to a further seating area for 3 which is separated off via the glass feature wall and allowing the customer a more intimate setting. This area retains the rustic yet modern feel with exposed brick work and modern pendant lighting.

Tea & coffee prep area
with under counter drinks fridge, rancilio fresh coffee machine and separate grinder, cutlery station and wall mounted shelving. Inset samsung wine fridge and under stair storage cupboard.

Ladies & gents cloakroom

service hatch
with heated pass and double doors leading to the commercial kitchen.

Commercial kitchen
this immaculate kitchen is well designed and comes with a range of commercial equipment including:- commercial extraction system, stainless steel splash back, lincat 6 ring electric hob with oven under, counter top deep fat fryer, counter top griddle, stainless steel prep area, 2 marble topped refrigeration units with chilled salad servers, stainless steel shelving and large double pizza oven.

Wash up area
with double stainless steel sink unit and drainer, maidaid glass washer, fagor commercial dishwasher and polar refrigeration ice machine. Chest freezer, wash hand basin, electric water heater and wall mounted robus air conditioning unit.

Dry store area

owners’ accommodation
the large owners’ accommodation provides superior living accommodation which must to be seen to be fully appreciated. Accessed via the main entrance with separate door leading to the solid wood staircase with half landing.

Cloakroom
with tiled walls, modern wc and belson sink with original copper taps.

Main landing
with access to

utility room
with floor and wall mounted cupboards, roll top work surfaces and velux window. Leading through to

bathroom
with original wood flooring and tiled walls. Modern bathroom suite with enamel basin and mixer tap mounted on distressed wooden window ledge, bath with wood panelling and shower unit, frosted double glazed window, inset ceiling spot lights.

Domestic kitchen
refurbished in 2015. The owners have incorporated the style of the rest of the premises providing a modern, clean look with beautiful italian mixed pattern tiles, industrial style ceiling lights, commercial stainless steel floor and wall mounted storage cupboards and commercial extraction system.

Lounge
beautiful solid wood semi-circle step leading down to the lounge area with wood flooring and inset ceiling spot lights. Feature wall with painted brick work, shelving unit incorporated into the original joists of the building and original bow window with front aspect.

Office
bow window with front aspect and wood flooring.

Dry store room
with polar large upright freezer, whirlpool large upright fridge, counter top drinks fridge, service drinks fridge, under counter drinks fridge and stainless steel racking. Stairs leading to the

second floor landing
original edwardian window with front aspect.

Bedroom 1
large double bedroom with feature wall, inset electric fire, bow window with front aspect.

Bedroom 2
large double room with laminate flooring and bow window with front aspect. Stairs leading to the

master bedroom
beautiful spacious double room into the eaves with dual aspect; porthole window to the front, large landscape window to the rear providing beautiful views over back beach towards shaldon bridge and across to shaldon village.

The residential accommodation can be closed off from the main hallway providing security and the possibility to sublet, subject to landlord’s approval.

General information

rateable value
£3,650. Please note this is not rates payable. Council tax b. For more information, we advise you contact the local billing authority, teignbridge council.

Business
the restaurant is typically italian. The owner operators, chef and front of house, are assisted by 2 sous chefs on 30 contracted hours each, 1 pot washer and 3 part time front of house staff. We have been informed the turnover for year end march 2019 was £144,168. The premises have a hygiene rating of 5.

Tenure
via a new full repairing & insuring lease for a term of 10 years with 5 yearly rent reviews at a rent of £25,000 per annum. The premises are also available via a freehold sale at an asking price of to be confirmed.

Services
the premises are connected to mains drainage, water and electricity. We have been informed the utilities are separate for the commercial ground floor area and the owners’ accommodation.

Stock
wet and dry stock in trade and bar glassware will be taken over by the purchaser at valuation on the day of completion.

Inventory
To include furnishings and equipment as per an inventory to be supplied, but excluding the owners personal effects.

Energy Performance Rating:
E  View EPC Graph for this property

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