Summary - Devon SO23 8SR
1 bed 1 bath Restaurant
High-turnover seaside restaurant with takeaway — lease short, auction sale, cash-preferred buyers.
Prime seaside location with attached takeaway and ice cream unit
Projected turnover c. £2.3m for y/e 2025; GP 73%
Leasehold with c.24 years remaining on 35-year council lease
Short lease likely to deter mortgage lenders; cash buyers favoured
Will be sold at auction — fast, conditional sale process
Energy Performance Rating TBC; confirm before purchase
Area classified as cosmopolitan student neighbourhood; strong footfall
Local crime level high; may affect insurance and staffing costs
A rare commercial opportunity on the South Devon seafront, offered as a leasehold restaurant with an attached takeaway and ice cream unit. The business projects a strong turnover of c. £2.3m for year ending 2025 with a high gross profit margin of 73%, making it attractive to experienced operators or investor buyers seeking immediate trading scale.
The site benefits from a prime seaside location in a cosmopolitan, student-and-professional neighbourhood with fast broadband and excellent mobile signal — useful for delivery platforms and modern POS systems. Local amenities and strong schools nearby support year-round footfall and staff recruitment. The property will be sold at auction, offering a clear, time-limited purchase route for buyers who can move quickly.
Material drawbacks are significant and stated plainly: this is a leasehold with approximately 24 years remaining on a 35-year council lease. That remaining term is short and may deter mortgage lenders or block mortgage finance altogether. Energy rating is TBC and should be confirmed. The immediate area records higher-than-average crime, which may affect insurance and perceived risk.
This opportunity suits buyers who can purchase with cash, have experience managing licensed hospitality assets, or can restructure the lease. Undertake financial, legal and operational due diligence — particularly lease terms, lender acceptability, insurance costs, and energy performance — before bidding at auction.
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