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11 Higher Market St
438 SF of Assignment Available in Looe PL13 1BS
Assignment Highlights
- A superb, licensed restaurant near the Beach and harbourside in Looe, South East Cornwall’s leading holiday resort
- Comprehensively equipped commercial kitchen and preparation areas
- Ideal family run restaurant business in a very popular Cornwall harbour town
- Extremely well appointed 50-cover ground floor restaurant with bar servery and feature pizza oven
- Consistent sales in the region of £250,000, from six months’ trade
Space Availability (1)
Display Rent as
- Space
- Size
- Term
- Rent
- Service Type
| Space | Size | Term | Rent | Service Type | ||
| Ground | 438 SF | Apr 2031 | £46.80 /SF/PA £3.90 /SF/MO £503.79 /m²/PA £41.98 /m²/MO £20,500 /PA £1,708 /MO | Fully Repairing And Insuring |
Ground
Leasehold Purchase Price £95,000. The remainder of a 12-year proportional full repairing and insuring lease from 5th April 2019 with a three year rent review pattern and a current rent of £20,500 per annum. Normal fixtures and fittings associated with this type of property are included in the sale and detailed inventory of trade fixtures and fittings will be supplied prior to exchange of contracts. The popular Italian restaurant and pizzeria trades six months of the year, May to the end of October, and further information can be viewed by visiting our clients’ website (www.laboccalooe.co.uk). The trading profit and loss accounts for year ending February 2024 show a turnover approaching £250,000, producing a gross profit of 75% and an adjusted net profit in the region of £48,000 before deducting depreciation, loan interest and motor expenses. A family run or partnership run operation could save on the existing wage bill, and thus increase net profitability further. In the normal manner, further accounting information will be made available to seriously interested parties following a viewing appointment.
- Use Class: E
- Assignment space available from current tenant
- Fully Built-Out as a Restaurant or Café Space
- Energy Performance Rating - C
- Private Restrooms
- A feature gas and wood-fired pizza oven
- A lower ground floor cellar and store
- Wash room
Service Types
The rent amount and service type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The service type will vary depending upon the services provided. Contact the listing agent for a full understanding of any associated costs or additional expenses for each service type.
1. Fully Repairing & Insuring: All obligations for repairing and insuring the property (or their share of the property) both internally and externally.
2. Internal Repairing Only: The tenant is responsible for internal repairs only. The landlord is responsible for structural and external repairs.
3. Internal Repairing & Insuring: The tenant is responsible for internal repairs and insurance for internal parts of the property only. The landlord is responsible for structural and external repairs.
4. Negotiable or TBD: This is used when the leasing contact does not provide the service type.
PROPERTY FACTS FOR 11 Higher Market St , Looe, CON PL13 1BS
| Property Type | Retail | Gross Internal Area | 3,858 SF |
| Property Subtype | Restaurant | Year Built | 1970 |
| Property Type | Retail |
| Property Subtype | Restaurant |
| Gross Internal Area | 3,858 SF |
| Year Built | 1970 |
About the Property
La Bocca Italian Restaurant & Pizzeria enjoys a prominent trading location close to the sandy beach and harbourside in the ever popular resort of East Looe. Looe is south-east Cornwall’s leading holiday resort, famous for its harbour, fishing port, Looe River which separates East and West Looe, in addition to its expansive sandy beach and quaint narrow streets providing an array of restaurants, bars and gift shops. The town itself if approximately 20 west of the City of Plymouth and seven miles south of Liskeard. The lock-up ground floor licensed restaurant has been subject to an impressive refurbishment, where the accommodation now briefly comprises an entrance foyer with access to ladies and gents cloakrooms; an extremely well appointed 50-cover ground floor restaurant; an equipped commercial kitchen and preparation area including a feature gas and wood-fired pizza oven; wash room and a lower ground floor cellar and store.
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11 Higher Market St
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