Summary - CORN EXCHANGE, THE PAVEMENT PE27 5AD
1 bed 1 bath Takeaway
Refurbished, turnkey restaurant with terrace and parking in central St Ives..
- Seats approx. 50 indoors, 25–30 on garden terrace
- Recently renovated to a high standard; turnkey fit-out
- Rent £57,600 pa; offered OIRO £110,000 for assets and lease
- Leasehold with only 6 years remaining; lenders likely to refuse
- Option to extend lease by further 10 years (terms to be confirmed)
- Two private off-street parking spaces included
- Busy high-street location with wide local amenities
- Local recorded crime level is high; factor security costs
A ready-to-run takeaway/restaurant premises in the heart of St Ives, recently refurbished to a high standard and offered as a leasehold business sale. The unit accommodates around 50 covers indoors with a large garden terrace providing an extra 25–30 covers, making it suitable for steady daytime and weekend trade. Two private off-street parking spaces are included and the location sits on a busy high street with strong local amenities and good broadband speeds.
Financially, the business carries a rent of £57,600 per year and is offered OIRO £110,000 for the assets, lease and location. The current fit-out and equipment provide a turnkey option for an operator wanting to start quickly; the recent renovation reduces immediate capital expenditure for refit work.
A material caution: the lease has only six years remaining and lenders will likely refuse to mortgage the purchase on that term. There is an option to extend the lease for a further 10 years, but prospective buyers should confirm extension terms and costs before committing. The wider area is affluent and well served by amenities, though local recorded crime levels are high — factor security and insurance into operating costs.
This opportunity suits an experienced hospitality operator or investor able to fund an unencumbered purchase or negotiate lease extension terms. Verify all statutory licences, lease details and trading forecasts; the premises are presented as a turnkey operation but buyers must confirm ongoing running costs and any refurbishment commitments linked to lease extension.
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