Haarer Goss, Exeter based chartered surveyors

Property News

PRICE REDUCTION - 11/12 High Street, Crediton
June 9, 2021, 3:39 pm

The premises are prominently situated on the High Street close to the popular Mitre Inn, Evans Newsagents and AJ Cox quality butchers.  The Co-Op convenience store and Stewart Price Optometrist are located opposite.  The High Street is characterised by an exceptional variety of independent retailers, restaurants, delicatessens, public houses and professional firms, along with national occupiers such as Boots the Chemist, Tesco Express, JD Wetherspoon and Lloyds TSB.  Tesco and Morrisons are both currently trading on the outskirts of the town.

Until recently the premises have traded as the “Untamed Thai” restaurant and is fully equipped to provide high quality Thai or Asian cuisine.  The proprietor has recently won a “Silver” award from Taste of the West.  Sadly, due to personal circumstances the owner of the business is reluctantly selling his leasehold interest along with the extensive equipment and furniture which was purchased and installed in 2019. A premium of £22,500 is sought for the catering equipment and furniture which cost well in excess of this figure.  The business is not being sold and the vendors are not seeking any premium for goodwill.

There is an existing commercial lease in place and the vendors will be assigning this to the purchaser.

These attractive ground floor lock-up premises benefit from a large glazed traditional shop frontage with an offset glazed door.  Due to current Covid-19 restrictions the number of tables and chairs have been reduced to six tables and seating for 18 covers.  The former café & deli business had twelve tables and provided seating for 41 covers. 

The premises are well-presented throughout, benefitting from a suspended ceiling with pendant lighting, air-conditioning and clean contemporary wall finishes together with a wood effect commercial quality vinyl floor covering. 

Towards the rear of the dining area a (removable) stud partition creating a “feature wall” has been erected to provide a useful and discreet space to plate dishes before serving and to prepare food or drinks.  

The premises are available by way of an assignment of the existing six year lease expiring 24th January 2025 with a passing rent of £12,000 per annum exclusive.  The rent is payable quarterly in advance.  The tenant contributes one third towards the annual maintenance and insurance costs for the property

A price of £22,500 is sought for the catering equipment which belongs to K.L.A Foods Limited which trades as Untamed Thai.

To arrange a viewing, please contact Iain Biddlestone on 01392 251171.