Coombe Street, Lyme Regis

Guide price £65,000

Guide Price: £65,000

Martin Diplock Chartered Surveyors & Estate Agents - Commercial Property


The Business:
The present proprietor took over in 2013, carried out refurbishment and refitting and has transformed it into a highly regarded business with extensive seating areas and a separate takeaway. The bar area has a full on licence and there is also a music licence.

The premises occupy the ground floor of one of Lyme's oldest buildings with many period features and a delightful Olde World charm - there are exposed beams, wall panelling, stone flag floors, fitted window seats etc.

The business is being offered for sale due to the owner's health problems which have restricted his ability to remain open for 18 hours per week (turnover just below the VAT threshold). There is however an excellent demand from locals and visitors, especially in holiday periods, to remain open all day, 7 days a week.

The premises are tastefully appointed and furnished and have the benefit of a comprehensive inventory of quality equipment. We understand it is in the top 10 Trip Advisor restaurants of Lyme Regis.

Coombe Street is at the heart of Lyme's Old Town with its origins reputedly going back to Saxon times. Much of the property here comprises old cottages and houses with a variety of shops, galleries and restaurants and the historic Town Mill (with a working water wheel, museum, arts and crafts, brewery etc.).

Lyme Bay Kitchen is on a busy thoroughfare within just a few metres of the main shopping street and seafront.

Lyme Regis is a picturesque coastal town noted for its many character buildings, century's old Cobb Harbour and unspoilt surrounding countryside. The town centre provides good shopping facilities for day to day needs and the larger centres of Taunton and Exeter are both about 28 miles away. There is a main line railway station at Axminster (6 miles inland). In Lyme Regis there is also a sailing club, bowls, golf course, theatre, cinema and numerous local societies.

The town is situated on the beautiful and unspoilt Devon and Dorset 'Jurassic Coast' awarded World Heritage Site status by UNESCO in December 2001.

The Takeaway:
18'3 x 10'10 (5.56m x 3.30m)
Part glazed door from Coombe Street with adjacent display window, bench window seat, ceiling beam and panelling. Servery counter with stainless steel preparation counter display, pie warmer, stainless steel salad fridge, drinks chiller, 2 freezers, fridge, 2 fryers, double oven, till (there are 2 tills in the property with the 'dispos' system).

Doorway to

15'10 x 8'9 (4.83m x 2.67m)
Comprehensively equipped including:- commercial gas cooking range with large oven and 6 rings with extractor system above, 35 litre gas deep fat fryer, griddle toaster, twin 5 litre fryers, pie warmer, burger press and mincer, microwave, stainless steel 3 door preparation top fridge, stainless steel table and shelving, commercial dishwasher, 10 kilo potato peeler, double stainless steel sink and separate hand wash.

Restaurant Seating Area 1:
17'3 x 14'4 (5.26m x 4.37m)
16 Covers and large bench window seat, exposed beams, wall panelling and flag floor. Door to

Entrance Hall (shared with flats above):
With door to

The Bar/Lounge:
16'2 x 13' (4.93m x 3.96m)
With bench seat below window, further table and chairs, sofa, flag floor, beams and panelling, bar with shelving and optics, Italian coffee machine, doors to preparation area and

Restaurant Seating Area 2:
17'9 x 16'6 (5.41m x 5.03m)
Up to 28 covers. Ideal for functions and private parties. A very attractive room with fireplace, stone flag floor, beams and panelling.

Preparation Area:
10'2 x 8'6 (3.10m x 2.59m)
Used for desserts, teas and coffees. Ice machine, 2 fridges and 2 freezers, glass washer, dual bowl stainless steel sink.

Off Hallway

Separate W.C.

Store Room off Rear Courtyard

The Lease:
We understand a new 12 year lease will be granted at a rental of £15,500.

Rateable Value: £13,500 (April 2017)
Rates payable by the present tenant: £2,209.50 (including Small Business Relief)

Price for the benefit of the lease, goodwill, fixtures and fittings: £65,000

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