Available

OIRO

£400,000

CAFE/RESTAURANT PREMISES

St Ives

Freehold

Sector: Hospitality & Leisure

Contact us:

01326 318813

[email protected]

Summary

Unique Cafe/Restaurant situated in an elevated position at ground floor level and former brewing workshop and ancillary sales at lower ground floor.

Key Features

Location

Floor Plan

EPC

Details

LOCATION

St Ives is one of the most characterful and busiest resorts in the south-west. The quaint harbour town is extremely popular during the summer season but also benefits from tourist trade throughout the year due largely to the Tate Gallery and its links with the artist community. The town is highly sought after by National, Regional and Local retailers and there are numerous respected restaurants, bistros and cafes.

SITUATION

Situated in an elevated location overlooking the harbour and town, the main St Ives car park, Trenwith, is situated opposite along with the busy leisure centre incorporating gym and swimming pool. Fronting the town perimeter road, the junction between Trewidden and The Burrows, there is A short-cut stepped pedestrian access to the town adjoining the property.

DESCRIPTION

The modern built detached building is presented in immaculate condition with fitted café/restaurant at ground floor level and former brewing workshop and ancillary sales at lower ground floor. The property benefits from parking and a driveway giving vehicular access to the workshop. Externally the property has an amazing large external balcony providing unparalled coastal and town views. The property was formerly constructed as a brewery and ancillary café but since the relocation of the brewery the property has been a standalone café/restaurant with the lower ground floor used as ancillary storage but with potential to provide additional retail and/or commercial space. The café has hosted many functions including weddings, funerals and private parties whilst its proximity to the main town car park means it is accessible to the many day visitors to the town. Internally the property is presented with timber flooring, double glazed sliding doors accessing the balcony and giving full panoramic views of the town and harbour along with excellent electrical light fittings. The property also benefits from parking for up to six vehicles.

ACCOMMODATION

Ground Floor Main café/retail area Max width 7.7 m (overlooking harbour) Max depth 6.4 m Gross internal area 113.3 m² Net internal area 103.7 m² (1,116 ft²) Toilet facilities Balconies Totaling 121.8 m² (1,310 ft²) the balconies have direct access to the café with sliding doors that fully integrate the inside and outside areas. Lower Ground Floor Former shop/brewery area Net internal area 93.1 m² (1,000 ft²) External Small access drive from The Burrows leads direct to the former brewery/workshop which has sliding loading doors. There is additional storage land and parking for up to a maximum of six cars.

TENURE

The property is owned by means of the unexpired term of a long lease from the Town Council at a ground rent. In more detail the lease was granted for a term ending 15th December 2114, i.e., there are 88 years unexpired effectively on full repairing and insuring terms at a ground rent of £15,000 per annum. There is a provision within the lease to review the ground rent at five-yearly intervals – index linked. The lease allows sub-letting either as a whole or in two separate parts (ground floor and lower ground floor).

SALE PRICE

The property is offered with vacant possession, and offers are sought in the region of £400,000 to reflect the profit rent achievable. Consideration would be given to agreeing leases on the whole or parts of the premises. It is stressed that we are not selling the business and no trade details or accounts will be available. However, the purchaser will effectively inherit any goodwill relating to the premises and the owner is prepared to sell all existing equipment, furniture and chattels at a price to be agreed. The property present has a Licence with alcohol sales allowed to 11pm.

BUSINESS RATES

The property is presently assessed as three separate entities as follows: Restaurant 1st April 2026 Rateable Value £16,500 Brewery and Premises 1st April 2026 Rateable Value £6,200 Brewery Shop and Premises 1st April 2026 Rateable Value £7,800 Cornwall Council are the charging Authority. For further information regarding rates payable contact Cornwall Council on tel: 0300 123 4171.

VAT

All figures quoted are exclusive of VAT where applicable. An option to tax has been made and VAT is therefore payable on the purchase price and any rents charged.

SERVICES

Mains electricity (three-phase), water and drainage are available. There is electric heating throughout the property.

PLANNING

Interested parties should make their own enquiries with Cornwall Council Planning Department to satisfy themselves that consent exists for the proposed use.

LEGAL COSTS

Each party to bear their own legal costs in dealing with the sale. In the event of a lease, the tenant to pay the landlord’s reasonable legal costs incurred in drawing up new documentation.

MONEY LAUNDERING REGULATIONS

In line with The Money Laundering Regulations 2017, Charterwood are obligated to verify ID for all clients that are conducting property transactions through the Company.

EPC

The property is in the process of being assessed.

VIEWING

Viewing arrangements may be made through sole agents Charterwood on (01872) 261216. Contact Chris Waters – [email protected] or James Laskowski – [email protected]