Riverbank Bar & Bistro, 49 Torrington Street, Bideford, Devon EX39 4DP

Property information

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Status: Let
Price: Confidential Agreement
Tenure: Leasehold

Underwood Warmington are delighted to be appointed Joint Sole Letting Agents of this exciting, “turnkey” Business Opportunity within the Hospitality Industry. We feel confident that enterprising entrepreneurs will see this as such.

GENERALLY

The Riverbank Bar & Bistro (formerly The Swan Inn) is a period building of considerable character with accommodation extending to approximately 3,800 sq ft (365m2) net internal space over ground, first and second floor levels. The ground floor trading floor is approximately 2,400 sq ft (221m2) Main Bar & Dining Areas, a fully equipped Commercial Kitchen, Ladies & Gentleman’s WC facilities, 2 x useful Stores, a Prep Room and the “River Room” which is a private Dining Area.

Externally is decking area with fine river views providing facilities for Al Fresco dining and drinks.

On the FIRST FLOOR there are 4 bedrooms and a Bathroom/WC

The SECOND FLOOR provides a private fitted Kitchen/Lounge/Dining Area again enjoying fine river views

LOCATION

Bideford is an historic Port Town on the estuary of the river Torridge in North Devon. In days gone by it was once Britain’s third largest Port. The population is approximately 15,000. The Riverbank Bistro is set close to the ancient Bideford Bridge, The Tarka trail, bus stops on 21 Stagecoach service and a soon to be developed residential housing site.

The atmosphere internally combines character and a contemporary feel giving new tenants the opportunity to stamp their own mark upon. The Landlord has fully furnished and equipped the trading floor such inventory being available for the tenant to use (subject to replacement/maintaining, fair wear & tear excepted). The business can thus open for business as soon as the new tenant takes over.

TERMS

A new lease is available Annual rent £25,000  payable monthly in advance The tenant is responsible for internal repair/decoration only. Landlord external repair/decoration. Normal Bank/ Trade references will be required.

IN-GOING

No in going premium is being charged.

Freehold Availability

Our client may consider selling the freehold interest in this property rather than create a Lease.

 

 

Accomodation Comprises

Imperial Metric Sq Ft


Business rates

Rateable value:   £13,000
Rates payable for 2020/21:   £1,450 (approx)

Small Business rates relief may apply. Visit : www.gov.uk/apply-for-business-rate-relief/small-business-rate-relief

SMALL BUSINESS RATE RELIEF

You can get small business rate relief if:

your property’s rateable value is less than £15,000
your business only uses one property - you may still be able to get relief if you use more

Contact your local council to apply for small business rate relief.

What you get :-

You will not pay business rates on a property with a rateable value of £12,000 or less.

For properties with a rateable value of £12,001 to £15,000, the rate of relief will go down gradually from 100% to 0%.

Examples

If your rateable value is £13,500, you’ll get 50% off your bill. If your rateable value is £14,000, you’ll get 33% off.

If you use more than one property
When you get a second property, you’ll keep getting any existing relief on your main property for 12 months.

You can still get small business rate relief on your main property after this if both the following apply:

none of your other properties have a rateable value above £2,899
the total rateable value of all your properties is less than £20,000 (£28,000 in London)

RETAIL DISCOUNT

You could qualify for retail discount if your business:

is a shop, restaurant, café, bar or pub
is in England
has a rateable value of less than £51,000
Contact your local council to find out if you’re eligible.

What you’ll get
If you’re eligible, you could get a third off your business rates bill.

You can get the retail discount on top of any other business rates relief you’re eligible for.

The retail discount is available for the 2019 to 2020 and 2020 to 2021 tax years.


Tenure

Available on a NEW lease, terms to be agreed between the parties


Viewing

For an appointment to view please contact:

Dean Warmington
Tel: 01271 378731
Email: dean@underwoodwarmington.com
Mobile: 07971830881


Property reference number

Reference: UW844
 

Important notice

These particulars are for guidance only. They are prepared and issued in good faith and are intended to give a fair description of the property but do not constitute part of an offer or contract.

Any description of information given should not be relied upon as a statement of representation of fact or that the property or its services are in good condition. Neither Underwood Warmington (nor its Joint Agents) not any of their employees has any authority to make or give any representation or warranty whatsoever in relation to the property.

The photographs show only certain parts and aspect of the property at the time they were taken. Any areas, measurements or distances given are approximate only.

Any reference to alterations to, or use of, any part of the property is not a statement that any necessary planning, Building Regulations or other consent has been obtained. These matters must be verified by an intending tenant.