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FOR SALE: 14 Lyme Street (restaurant premises and 2 bed apartment), Axminster, Devon

FOR SALE: 14 Lyme Street (restaurant premises and 2 bed apartment), Axminster, Devon - 6th August 2018

FOR SALE: LICENSED RESTAURANT PREMISES WITH SPACIOUS 2 BEDROOM APARTMENT OVER WITH OPPORTUNITIES FOR OWNER/OCCUPIER OR TO SUB-LET AS INVESTMENT

14 LYME STREET, AXMINSTER, DEVON, EX13 5AU
LEASEHOLD: 45,000

Licensed property experts, Stonesmith of Devon, are delighted to offer to market this licensed restaurant premises in the highly desirable East Devon town of Axminster. The sale represents a rare opportunity to acquire a licensed restaurant premises which would be equally suitable as a cafe/tea rooms and for alternative cuisines. There is tremendous potential for incoming operators to take advantage of this well presented and equipped business in a prominent and visible trading position.

Currently trading as a licensed restaurant, 14 Lyme Street opens just 2 evenings per week. The premises have been the subject of considerable investment by our client, and also benefit from a large 2 bedroom maisonette above, which when rented out provides a rental income of 10,000-12,000 per annum. The rent for the whole property is under 10,000 per annum, meaning the rental income from the maisonette covers the whole of the rent. In addition to this, the business benefits from 100% rates relief, meaning the owner can benefit from extremely low overheads with no net outgoings on rent or rates. The business briefly comprises:- Main Restaurant Area comfortably seating 30 plus customers; impressive and well equipped Commercial Catering Kitchen with separate Wash-Up/Preparation Room and Store Room; enclosed Rear Courtyard with Customer Seating Area and spacious 2 Bedroom Owners Accommodation with Sitting Room, Kitchen/Breakfast Room, and Shower Room.

14 Lyme Street occupies a prime and visible trading position in the busy town centre. National retailers and thriving residential areas provide a strong footfall to complement the busy passing trade. Axminster is an unspoilt East Devon market town with charm, character and attractive streets leading off Town Square, and is well known for the production of high quality carpets dating back to the 18th Century. The town continues to grow with numerous new housing developments under construction. Axminster is situated close to the Dorset border, approximately 5 miles from the historic seaside resort town of Lyme Regis, 9 miles from the market town of Honiton and 25 miles from the Cathedral City of Exeter.

The leasehold property is for sale with an asking price of 45,000. Full property details are available from the website www.stonesmith.co.uk and viewings arranged by calling 01392 201262.

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I am very grateful for all your efforts and patience in selling my business. Many thanks again.

Anne Olivant - Previous owner of Olivants, Exmouth