Thriving Bar & Restaurant for Sale in St Ives, Cornwall
£225,000
£892,797
£60,468
Overview
Leasehold
2017
- Excellent Reputation
- Very Loyal Customer Base
- Huge Growth Potential
- Well Equipped Business
- Spacious Premises
This is a rare opportunity to acquire a thriving bar and restaurant located in the heart of St Ives, Cornwall. This well-established restaurant boasts an impressive capacity of 80 covers and has garnered immense popularity for its delicious fried chicken and locally brewed craft beer. With an extensive following of over 12K Instagram users, this casual dining spot has cemented its status as one of Cornwall's most beloved culinary destinations.
Renowned for its exceptional service and mouthwatering offerings, the business enjoys an outstanding reputation among both locals and tourists. The company currently boasts remarkable ratings of 4.5* and over on Google, Facebook, and TripAdvisor, reflecting its consistent quality and customer satisfaction.
Situated in a prime location within St Ives, this establishment benefits from its placement in one of the UK's finest seaside towns - St Ives draws in a staggering 750,000+ visitors annually. Moreover, the bar and restaurant occupy a central spot on St Ives' main shopping street, ensuring high visibility and foot traffic.
This restaurant provides an opportunity to tap into the thriving tourism industry in Cornwall, where year-on-year growth is projected at 3.8% until 2025. With its desirable location, loyal customer base, and strong online presence, this business promises a solid foundation for future success.
The three-story premises offers a delightful bar and restaurant experience, with the main floor accessible from Fore Street via steps. The restaurant boasts a remarkable interior, featuring luxurious leather booths, reclaimed timber tables, captivating custom neon signs, and feature lighting. A bespoke cinema-style lightbox created by esteemed London sign manufacturer Goodwin & Goodwin adds a touch of elegance above the main bar, while large hand-painted murals by renowned local artist Joe Greenaway enhance the ambience.
The second floor showcases a recently refurbished, fully-equipped commercial kitchen equipped with industry-leading Henny Penny pressure fryers. Additionally, a spacious stock room could be converted into additional dining space, offering flexibility for future expansion.
On the top floor, there are toilets for both customers and staff members. The current owners are happy to offer a transitional period.
As the business has a full management team in place, would suit someone looking for a hands-off investment, however, if an individual/couple wanted to work in the business (as a manager or head chef, for example) wages could be reduced and profits increased by c. £40k – £80k per year.
Currently, the business is only open in the evenings (from 4 PM) so opening hours could be extended to include lunch and breakfast, drastically increasing turnover. The premises has a 1 AM licence (very rare for the town centre) but this is rarely utilised as the restaurant is usually closed by 11 PM - there's significant scope to develop a late-night drinking trade and run live music / DJ events.
The current owners have gone to considerable lengths to create a highly-transferable, turnkey business primed to roll out at other locations, with scope to establish more sites nationally.
Features
Key Information
- Number of Covers: 80
Reputation
- Google: 4.5
Online Presence
- Facebook: Yes
- Instagram: Yes
Location
- City Centre Location
- Shopping Centre Location
- High Street Location
- High Footfall
- Nearby Car Parking