Tenby
£175,000
Guide price
Guide price
INGOING PREMIUM .... £175,000 to £250,000
A VERY WELL KNOWN AND EXTREMELY SUCCESSFUL RESTAURANT WITHIN THE BUSY HEART OF THE POPULAR RESORT AVAILABLE AS A 'GOING CONCERN'
GENERAL
The Baytree is very well positioned in Tudor Square which is the bustling heart of Tenby. The town itself is the 'Jewel in the Crown' of the Pembrokeshire Coast National Park and is visited by many thousands of tourists each year. The Baytree enjoys a wonderful reputation and year round trade from both locals and visitors.
The Restaurant itself has character. The Patio to the rear is sheltered. The Side Passage and useful Basement may have potential - subject to consent.
With approximate dimensions, the accommodation briefly comprises...
THE RESTAURANT
Front Section (inset slightly) 27'9' x 20'6' (8.46m x 6.25m) deep to include Entrance Porch, double fronted with large windows to Tudor Square.
Middle Section (inset slightly) 13'0' x 12'11' (3.96m x 3.94m) to include the Servery.
Rear Section (inset slightly) 29'10' x 14'11' (9.09m x 4.55m) to include the Servery and French doors to Patio, access to...
Snug Area 10'3' x 7'10' (3.12m x 2.39m)
RESTAURANT
Kitchen Area
Service Kitchen (sub heading) 13'7' x 13'6' (4.14m x 4.11m)
Wash Up Area (sub heading) 14'11' x 13'6' (4.55m x 4.11m) access to Utility Area
UNDERGROUND FLOOR
Side passage & Beer Cellar
GROUND FLOOR
Ladies and Gents toilets
BASEMENT
Preparation/Freezer Area 23'7' x 14'4' (7.19m x 4.37m)
Spirit's Store 7'6' x 5'10' (2.29m x 1.78m)
OUTSIDE
Paved/walled Patio to rear.
SERVICES ETC
(none tested)
All mains connected.
PROPOSED LEASE
* New Lease for say 10 years commencing as soon as possible. The Tenant will be responsible for the shop front, internal repairs and decoration, rates and utilities plus a proportion of shared external maintenance and buildings insurance etc.
* Initial Rent.... At least £50,000 per annum. Rent Reviews at the end of Years 3, 6 and 9.
TRADING ACCOUNTS
These can be made available to the financial/professional advisors of bone fide interested parties who must have first viewed The Baytree. The Baytree is extremely busy at present and Turnover is likely to exceed £1 million per annum (excluding VAT).
INGOING PREMIUM
* £175,000 to £250,000 in respect of the Contents (furniture and equipment etc - Inventory to be prepared) plus the goodwill (based on Turnover and Profits etc). Note - it may be possible to spread payment of this Premium over the first few years of the Lease.
* The Ingoing Premium will depend upon the Annual Rent and visa versa.
RATEABLE VALUE
£29,250. Business Rates payable for 2023/2024 - £15,648.
A VERY WELL KNOWN AND EXTREMELY SUCCESSFUL RESTAURANT WITHIN THE BUSY HEART OF THE POPULAR RESORT AVAILABLE AS A 'GOING CONCERN'
GENERAL
The Baytree is very well positioned in Tudor Square which is the bustling heart of Tenby. The town itself is the 'Jewel in the Crown' of the Pembrokeshire Coast National Park and is visited by many thousands of tourists each year. The Baytree enjoys a wonderful reputation and year round trade from both locals and visitors.
The Restaurant itself has character. The Patio to the rear is sheltered. The Side Passage and useful Basement may have potential - subject to consent.
With approximate dimensions, the accommodation briefly comprises...
THE RESTAURANT
Front Section (inset slightly) 27'9' x 20'6' (8.46m x 6.25m) deep to include Entrance Porch, double fronted with large windows to Tudor Square.
Middle Section (inset slightly) 13'0' x 12'11' (3.96m x 3.94m) to include the Servery.
Rear Section (inset slightly) 29'10' x 14'11' (9.09m x 4.55m) to include the Servery and French doors to Patio, access to...
Snug Area 10'3' x 7'10' (3.12m x 2.39m)
RESTAURANT
Kitchen Area
Service Kitchen (sub heading) 13'7' x 13'6' (4.14m x 4.11m)
Wash Up Area (sub heading) 14'11' x 13'6' (4.55m x 4.11m) access to Utility Area
UNDERGROUND FLOOR
Side passage & Beer Cellar
GROUND FLOOR
Ladies and Gents toilets
BASEMENT
Preparation/Freezer Area 23'7' x 14'4' (7.19m x 4.37m)
Spirit's Store 7'6' x 5'10' (2.29m x 1.78m)
OUTSIDE
Paved/walled Patio to rear.
SERVICES ETC
(none tested)
All mains connected.
PROPOSED LEASE
* New Lease for say 10 years commencing as soon as possible. The Tenant will be responsible for the shop front, internal repairs and decoration, rates and utilities plus a proportion of shared external maintenance and buildings insurance etc.
* Initial Rent.... At least £50,000 per annum. Rent Reviews at the end of Years 3, 6 and 9.
TRADING ACCOUNTS
These can be made available to the financial/professional advisors of bone fide interested parties who must have first viewed The Baytree. The Baytree is extremely busy at present and Turnover is likely to exceed £1 million per annum (excluding VAT).
INGOING PREMIUM
* £175,000 to £250,000 in respect of the Contents (furniture and equipment etc - Inventory to be prepared) plus the goodwill (based on Turnover and Profits etc). Note - it may be possible to spread payment of this Premium over the first few years of the Lease.
* The Ingoing Premium will depend upon the Annual Rent and visa versa.
RATEABLE VALUE
£29,250. Business Rates payable for 2023/2024 - £15,648.
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