FREEHOLD CAFE & FIRST FLOOR FLAT INVESTMENT
WELL EQUIPPED & PRESENTED
TOTAL INCOME £24,100 PA (7.4% GROSS YIELD)
GENUINE RETIREMENT SALE
EPC: CAFE D84
TOP FLOOR FLAT: E49
Tintagel Kitchen is located in the North Cornish coastal village of Tintagel. Those visiting Tintagel can enjoy King Arthur’s Castle, the beach, the ancient headland Church or Old Post Office immediately opposite together with the eating and shopping facilities of Tintagel. Within Tintagel there is a modern Visitors Centre, Doctors Surgery, Church and modern Library.
In all directions from Tintagel there is scenery of outstanding natural beauty. In both directions the North Cornish coast offers breathtaking National Trust cliff scenery linking to popular family beaches such as Trebarwith and quaint former fishing villages such as Boscastle. To the south Bodmin Moor provides wild open spaces ideal for walking and riding. To the west is the much loved scenery of the River Camel with culinary hotspots of Rock and Padstow at its mouth.
An attached ground floor and first floor premises occupying a prominent corner position as one enters Tintagel. We are advised the catering premises were built in1980, with the first floor flat being added in 2004. The overall square footage of the internal premises is approximately 74sqm (plus staff/customer wc), comprising the 20 cover cafe and commercial kitchen. To the front and side of the property is external seating for 12 to 16 covers.
We are advised the landlord has an Inventory (currently being used by the tenants on a repair and renewal basis), copy available upon request.
Accessed externally and to the side of the property is a first floor two bedroom full residential flat, which we understand is currently let on an Assured Shorthold Tenancy Agreement at a passing rental of £550 per calendar month.
The Accommodation Comprises
(all areas and dimensions are approximate)
Doors to front and sides
7.89m x 7.66m, a well appointed 20 cover daytime cafe, which we understand has a full Alcohol Licence. We understand the cafe has been established since 2010 (being converted from a former retail shop) and has had successive tenants, with no break of business operation.
4.67m x. 2.60m, a well appointed commercial kitchen with a 3 vent extraction system.
A terraced area to the front and sides, circa 12 to 16 covers.
First Floor Flat
With external area to the front for bin storage.
Radiator, stairs to first floor.
First Floor Landing
Radiator. Access to loft, which we are advised is boarded and insulated.
5.62m x 3.84m, windows and patio doors to terrace.
4.40m x 3.84m (into fitted wardrobes), window to front elevation, radiator.
3.28m x 2.67m, built in cupboard, window to rear elevation, radiator.
2.27m x 1.19m, with bath, shower over, low level wc and pedestal wash hand basin, window to side elevation.
Tenure – Freehold
Subject to a 5 year lease commenced 1st July 2015, on an internal repairing and insuring basis (to include decoration of the front shop window), at a current passing rental of £17,500 per annum, which we understand enjoys the Security of Tenure Provision.
Please note we are advised this business is currently for sale.
A copy of the Assured Shorthold Tenancy Agreement available upon request.
Combined passing rental of £24,100 per annum, representing a gross yield of 7.4%.
General Enquiries 0300-1234-100
Energy Performance Certificate
The Energy Performance Ratings for this property is D84 for the Cafe and E49 for the Top Floor Flat..
An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.
We understand the property holds a relevant Premises Licence in respect the sale of intoxicating liquor on the premises.
We refer you to the government website https://www.tax.service.gov.uk/view-my-valuation/search
Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989
South West Water: 0800 169 1144
Transco: 0800 111 999
To be taken at valuation.
Value Added Tax
All the above prices/rentals are quoted exclusive of VAT, where applicable.
If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the number below.
For further information or an appointment to view please contact either:-
Graham Timmins on 01872 247019 or via email email@example.com or
Beverly Northey on 01872 247031 or via email firstname.lastname@example.org
PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.
AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.
Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.
VIEWING: Strictly by prior appointment through Miller Commercial.