The Krab Pot is situated in a prominent position on Fore Street, the main pedestrian and vehicular thoroughfare through the picturesque North Cornish village of Port Isaac. The village of Port Isaac requires little introduction, attracting thousands of visitors each year and is the backdrop to the highly successful television series ‘Doc Martin’. The village is also home to the celebrity Shanty singers “The Fishermen’s Friends” and is a popular stop off point for those walking the nearby SW coastal Footpath.
The business is located within this attractive character filled period property and occupies the ground and first floor of the building. We understand that a catering business has operated from this location for in excess of 50 years with the current owners now selling due to business commitments elsewhere within the county. The Krab Pot offers a varied menu of hot and cold food to eat in or takeaway, utilising wherever possible fresh local produce including, locally caught seafood and a range of drinks including Cornish Ales, Ciders and Wines.
The business was operated by the current owners – a husband and wife team for the past c.4 Years, they have since employed local staff due to other business commitments but will utilise these staff in their other business if the new owners wish to run the café themselves and TUPE will not apply. The café is open daily 10.30am to 4.30pm with an advised turnover of circa £130,000 per year, and a healthy gross profit margin of 70%. Trading accounts for the year ending 30th April 2019 show sales of £129,957 with a gross profit margin of 73% and an adjusted net profit of £59,017, (after making the usual adjustments for bank charges, professional fees and the wage bill to reflect a couple in operation). Further accounting information will be made available to interested parties, following a viewing in the normal manner.
The Accommodation Comprises
(all areas and dimensions are approximate)
7m x 3.86m. With a door and window looking directly onto Fore Street. Wooden flooring, tables and chairs for 8 covers, feature Cornish range, high top counter/service point behind which are located a Buffalo oven, Caravell undercounter fridge with salad servery. Ice king freezer, Iceking fridge, double bottle fridge, Casio till, Rancilio coffee machine, dishwasher, stainless steel sink and drainer, hand wash basin, a range of under counter storage units, fitted shelving, fridge and fridge/freezer.
Principal Dining Area
MAIN DINING AREA4.94m x 3.96m. With an attractive arch topped window to the front elevation with built in window seat, wooden flooring, exposed stone walls, feature fireplace, table and chairs for approximately 24 covers.
With access door to side, and door to w/c.
General Enquiries 0300-1234-100
Energy Performance Certificate
The Energy Performance Rating for this property is within Band E113.
We understand the business currently holds a premises licence in respect of the sale of liquor for consumption on and off the premises.
The business is available by way of an assignment of the remainder of the existing 15 year Lease which commenced on the 8th March 2013 on a full repairing and insuring basis, at a current passing rental of £29,360.04 Per annum, payable monthly in advance.
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.
Each party to bear their own legal costs in addition to 50% each of the landlords legal costs.
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.
For further information or an appointment to view please contact:-
Paul Collins on 01872 247029 or via email firstname.lastname@example.org or
Graham Timmins on 01872 247019 or via email email@example.com
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] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [c] 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.