THE PROPERTY
Taylor’s Restaurant is an extremely impressive and well-presented licensed catering business which has been a Dartmouth institution since 1972 and in the current ownership since 1999. This thriving and well-regarded business boasts a prominent waterside location with the most stunning panoramic harbour and estuary views. The restaurant has benefitted from considerable ongoing investment and expenditure by our clients throughout their ownership and consequently the business is presented and furnished to a high standard and provides a superior working environment which is exceptionally well equipped.
The restaurant is situated on the first floor, with a prominent entrance and visible frontage on the ground floor and a self contained family sized 2/3 bedroom apartment on the top floor. This impressive business briefly comprises: – Main Restaurant with spectacular views from the full width bay window (32), Bar Servery, Commercial Catering Kitchen. The business is enhanced by the Self-Contained Apartment offering 2/3 Bedrooms, Lounge/Dining Room with spectacular views, Kitchen/Breakfast Room and a Bathroom. Taylor’s Restaurant is an exceptionally well-equipped business with particularly impressive profits approaching £100,000, and opening just 5 evenings per week. A viewing is strongly recommended in order to fully appreciate all aspects of this business opportunity and the potential which it offers owner operators, the like of which is rarely seen with the business of this nature. There are also undoubted opportunities and potential for incoming operators to develop their own style of trade to suit their own personal requirements and take advantage of the prominent and prime waterside trading position.
SITUATION
Taylor’s Restaurant occupies a prime town centre trading position overlooking the harbour and estuary, in the very heart of Dartmouth. Dartmouth is one of the prettiest, most visited, and photographed of all the South Hams towns. It lies at the mouth of the River Dart in an Area of Outstanding Natural Beauty, with the River Dart widely acknowledged as one of the most beautiful and scenic rivers in England, much loved by sailing and boating enthusiasts. The historic town is a bustling and affluent centre with unique individual shops and cobbled walkways and is a haven for day trippers and tourists, with its magnificent Naval College, picturesque waterfront and stunning architecture. There are many other tourist attractions in the area with easy access to the unspoilt South Hams coastline. Dartmouth is within close vicinity to the A38 Devon Expressway providing access to Plymouth (20 miles) and Exeter (31 miles).
INTERNAL DETAILS
Prominent and highly visible sign written frontage with glazed display window on the ground floor and adjacent glazed entrance door into Entrance Lobby with stairs to the first floor. Main Restaurant a particularly impressive and well presented dining room on the first floor with feature full width picture bay windows to the front providing superb uninterrupted panoramic views of the harbour and estuary, with carpeted flooring, feature lighting, 2 ceiling fans, painted panelled walls to dado height, range of quality upholstered chairs and wooden topped tables comfortably seating 32 customers in attractive surroundings. Painted timber fronted and tiled topped Bar Servery fitted with associated back bar fittings and mirror backed display shelving, extensive wine racking, optics, rear preparation worksurfaces, non-slip flooring, 2 double glass fronted bottle fridges, under counter fridge, commercial glasswasher, stainless steel sink unit, EPOS touch screen cash register, commercial coffee machine and coffee grinder. Customer Cloakroom. Commercial Catering Kitchen an extremely well appointed commercial catering kitchen fitted with a comprehensive range of commercial catering equipment with non-slip flooring, part stainless steel and part wipe clean clad walls, extractor system with stainless steel canopy over and gas interlock system, 6 burner gas range, electric combi oven, twin floor standing deep fat fryer, 2 door under counter commercial fridge unit, 6 draw under counter commercial fridge unit, commercial microwave oven, plate warming cabinet with warming lamps over, upright commercial freezer, commercial pass through dishwasher, deep bowl stainless steel sink unit with drainer, stainless steel hand basin, 2 double glass fronted under counter fridges, washing machine, commercial ice machine and door to the rear staircase.
PRIVATE ACCOMMODATION
Benefitting from a separate access from the rear of the property and situated on the top floor is the self contained family sized apartment which briefly comprises:- Lounge/Dining Room a spacious L ‘shaped room with stunning views to the front overlooking the harbour and estuary and a feature fireplace (disused). Kitchen/Breakfast Room fitted with a range of base and wall mounted kitchen units, work surfaces and stainless steel sink unit with drainer. Bedroom 1 a good sized double bedroom with built in wardrobe, wash hand basin and aspect to the rear. Bedroom 2 a double bedroom with aspect to the side, currently arranged as a Store Room with 2 chest freezers, shelving for dry goods and an upright fridge. Bedroom 3 a good sized single bedroom with aspect to the side, currently arranged as an Office. Family Bathroom with a white suite and power shower over the bath. Boiler cupboard with new electric boiler.
THE BUSINESS
Taylor’s is an established and extremely well regarded licensed restaurant with spectacular waterside views, which has been in the same ownership since 1999. The restaurant boasts a prime and highly visible water’s edge town centre trading position and has an outstanding reputation. Taylor’s is currently ranked as the number 1 restaurant in Dartmouth on TripAdvisor and benefits from a Travellers Choice Award. Presented to a high standard throughout and extremely well equipped, Taylor’s is described by the owner’s as easily one of the most picturesque places to enjoy fresh cuisine inspired by Devon’s land and sea. Taylor’s has been awarded a 5 Star Food Hygiene Rating and has a website which provides further background information and menus. The sale of Taylor’s represents an excellent opportunity to purchase an exceptionally profitable and successful catering business with an excellent reputation and a spectacular waterside setting and new owners will benefit from being able to move in without the need for any major expenditure. An early appointment to view is highly recommended to fully appreciate all that this impressive business has to offer. The business is offered for sale due to retirement.
TRADING INFORMATION
Sales for the year ending 30th September 2022 show sales of £295,041 excluding VAT and a reconstituted net profits in excess of £95,000 being produced. Full detailed trading information can be made available to interested parties following a formal viewing appointment.
CURRENT OPENING HOURS
With impending retirement in mind, our clients have deliberately chosen to restrict the opening hours of the business and the restaurant trades just 5 evenings per week. The business also closes for at least 6 weeks during the year for holidays.
CURRENT STAFFING
Owned and run by a couple, one in the kitchen, one front of house who are assisted by a full time chef, a full time front of house, and a part time front of house.
POTENTIAL
The sale of Taylor’s Restaurant provides an excellent opportunity to purchase a thriving and extremely well regarded restaurant business in a sought after and affluent South Hams waterside town. Our clients believe that there is tremendous potential to increase the current trade levels still further, particularly by increasing the opening hours. Trade levels could be further maximised as for instance tables are also not turned during the evening. There is also the potential for incoming operators to develop their own style of cuisine and trade in a manner to suit their own personal requirements and benefit from this impressive restaurant opportunity in a stunning honey pot location. The sale of Taylor’s Restaurant represents a rare opportunity to purchase a quality restaurant business with family sized owners’ accommodation, the like of which rarely comes with a business of this nature. Coupled with this, new owners can move in and start trading without the need for any major expenditure. Our clients are prepared to offer a full handover and assistance to interested parties, should they so require it.
EPC RATING
D – 95.
BUSINESS RATES
Up-to-date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website We are advised that 100% Small Business Rate Relief will be available to eligible parties.
SERVICES
All mains services are connected.
PRICE & TENURE
£125,000 for the valuable leasehold interest as a going concern business to include a full trade inventory. The premises are held by way of a 21 year lease from private landlords, commencing in 2016, with the benefit of security of tenure. The current rent is £17,050 plus VAT per annum, paid quarterly in advance. Rent reviews are every five years and the lease is part repairing and insuring.
