Summary - THE PRIEST HOLE, THE OLD HALL, CHURCH STREET LA22 0BU
1 bed 1 bath Restaurant
Established trading restaurant with terrace and strong visitor trade.
Prominent town-centre location in Ambleside
An established, characterful restaurant in the heart of Ambleside, The Priest Hole occupies a prominent town-centre position and trades year-round to locals and strong visitor footfall. The building dates in part from the 16th century and retains period stone character that creates a memorable dining atmosphere. Internally the business is set out over two levels, seating 65 covers with a well-equipped commercial kitchen and licensed bar.
A valuable outdoor terrace seats up to 30 guests and is partially covered with heating and lighting, enhancing turnover in shoulder months. The premises are fully operational and have traded under the same ownership for 14 years, with trading accounts available to seriously interested parties. Passing rent is currently £38,722pa on a full repairing and insuring lease with three-year rent reviews.
Important practical points: the business is offered leasehold with 12 years remaining on a renewable commercial lease. That term may limit financing options—many mortgage lenders are reluctant to lend against short leases on commercial premises. Rateable value is £21,250 (rates payable c. £6,362, potentially reducible by Small Business Rates Relief).
This is a plug-and-play hospitality opportunity for an investor or hands-on operator seeking an established brand in a prime Lake District village location. The sale price reflects goodwill, fittings and the lease premium; the purchaser should factor in lease length, rent reviews and limited on-site parking (two spaces) when assessing long-term value and financeability.
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