Kingswood Restaurant, London Apprentice

Written by Theresa Tyack Monday, 22 February 2010 14:27

An opportunity has arisen to acquire the successful Kingswood Restaurant standing alongside the busy road linking St Austell with Mevagissey at London Apprentice. The long established and tastefully appointed restaurant is a substantial single-storey building of modern construction set within extensive grounds. It comprises a lounge bar, adjoining restaurant providing 40-covers, delightful conservatory offering a further 27-covers and a comprehensively equipped commercial kitchen. Outside, and to the rear, is an attractive decked and lawned garden with picnic tables and a water feature. The business benefits from good parking facilities. Included within the sale is the owners' 1-bedroom accommodation which forms part of the main building.

The business trades strongly throughout the year and enjoys excellent local goodwill with local clubs and associations. Additionally, tourists staying in local holiday cottages and on the numerous caravan parks along the B3273, support this well regarded restaurant. The trading accounts for the year to July 2008 show sales of over £254,000 generating a G.P. approaching £166,000.

Kingswood Restaurant is being offered with the benefit of a new F.R.I. lease, off an asking rental of £18,000 per annum exclusive, subject to an ingoing premium of £85,000 plus stock at valuation. Alternatively, interested buyers may seek the freehold tenure, off a guide price of £485,000 plus stock at valuation.

Richard Gilbert of our Hotel, Licensed & Leisure Department comments, "This is a fine business, which benefits from a high roadside profile on a route much travelled by tourists visiting both Mevagissey and the popular Lost Gardens of Heligan".

For further information, please contact Richard Gilbert on 01872 247027

• < Previous
• Next >