COTSWOLD - MARKET TOWN LOCATION
Cirencester, Gloucestershire
Ref: 45236
Leasehold
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Key Features
Location
The Cotswolds Market Town of Cirencester dates back to Roman times. It has a medieval town centre lined with character buildings, many of which are built of traditional Cotswold limestone. It is strategically located and often considered the eastern gateway to the Cotswolds, standing alongside the A417 trunk route which links the M4 at Swindon with the M5 at Gloucester/Cheltenham. The town has a population of 20,000 and as well as attracting tourists and visitors throughout the year, has a thriving economy enhanced by being the location of the Royal Agricultural College.
Tierra & Mar is an attractive Grade II listed building constructed of Cotswold stone located on the edge of the town centre. It has its own car park, character trading areas as well as good owners accommodation and a well established trade. It has won many awards for the quality of its cuisine. It is briefly described as follows:
Tierra & Mar is an attractive Grade II listed building constructed of Cotswold stone located on the edge of the town centre. It has its own car park, character trading areas as well as good owners accommodation and a well established trade. It has won many awards for the quality of its cuisine. It is briefly described as follows:
Property
TRADE AREAS
Entrance Vestibule provides access into open plan dining areas in three/four sections arranged around a RECEPTION AREA which has a DISPENSING SERVERY and a SEATED COCKTAIL AREA. This area is on split levels having part boarded and part quarry tiled floor and assorted poseur style seating for up to 20. To the right are TWO DINING AREAS both having boarded floor, one having a feature fireplace with exposed Cotswold stone chimney breast. These areas when fully furnished can seat up to 30 . The principal dining area has a part vaulted ceiling, boarded floor and again traditional seating for up to 30 further diners.
The CATERING KITCHEN is extensive and in three principal sections being comprehensively equipped throughout. The main catering area has quarry tiled floor, fully tiled walls, seven section ceiling fitted galvanised extraction canopy. Large PREPARATION AREA with Altro non slip flooring and fully sealed walls as well as DRY STORE/FREEZER ROOM with walk-in Coldroom.
Ground floor DISABLED TOILET. The LADIES and GENTLEMEN’S TOILETS are at first floor.
OWNERS ACCOMMODATION
At first and second floor is the private accommodation which is arranged as follows:
Good size KITCHEN/DINER. Good size DOMESTIC LOUNGE. FAMILY SHOWER ROOM with suite of wash hand basin, WC and shower. At second floor is BEDROOM 1, double. BEDROOM 2, double. BEDROOM 3, single. There is a FOURTH BEDROOM at second floor which is accessed from a separate staircase which is not currently in use and would require further investment if it were to be utilised for domestic accommodation.
EXTERNAL
To the rear of the property is a small enclosed HERB GARDEN. BIN COMPOUND and a CAR PARKING SPACE. To the front of the property is a CAR PARK which can cater for seven vehicles.
Entrance Vestibule provides access into open plan dining areas in three/four sections arranged around a RECEPTION AREA which has a DISPENSING SERVERY and a SEATED COCKTAIL AREA. This area is on split levels having part boarded and part quarry tiled floor and assorted poseur style seating for up to 20. To the right are TWO DINING AREAS both having boarded floor, one having a feature fireplace with exposed Cotswold stone chimney breast. These areas when fully furnished can seat up to 30 . The principal dining area has a part vaulted ceiling, boarded floor and again traditional seating for up to 30 further diners.
The CATERING KITCHEN is extensive and in three principal sections being comprehensively equipped throughout. The main catering area has quarry tiled floor, fully tiled walls, seven section ceiling fitted galvanised extraction canopy. Large PREPARATION AREA with Altro non slip flooring and fully sealed walls as well as DRY STORE/FREEZER ROOM with walk-in Coldroom.
Ground floor DISABLED TOILET. The LADIES and GENTLEMEN’S TOILETS are at first floor.
OWNERS ACCOMMODATION
At first and second floor is the private accommodation which is arranged as follows:
Good size KITCHEN/DINER. Good size DOMESTIC LOUNGE. FAMILY SHOWER ROOM with suite of wash hand basin, WC and shower. At second floor is BEDROOM 1, double. BEDROOM 2, double. BEDROOM 3, single. There is a FOURTH BEDROOM at second floor which is accessed from a separate staircase which is not currently in use and would require further investment if it were to be utilised for domestic accommodation.
EXTERNAL
To the rear of the property is a small enclosed HERB GARDEN. BIN COMPOUND and a CAR PARKING SPACE. To the front of the property is a CAR PARK which can cater for seven vehicles.
The Business
Our clients purchased the business in October 2017 at which time it was operating as an Italian Restaurant. Subsequently the property was refurbished and reopened for trade in November 2017. An excellent reputation has been established with the business winning many awards and accolades, a Trip Advisor Certificate of excellence being the top rated restaurant in Cirencester. Amongst others it has a listing in Hardings, a gold rating in Taste of West and a finalist in the National Food Awards.
This success is reflected in the trading results with turnover for the year 2019 amounting to £330,000 inclusive of VAT. This is a well presented, successful and well established business with good facilities and a wealth of charm.
This success is reflected in the trading results with turnover for the year 2019 amounting to £330,000 inclusive of VAT. This is a well presented, successful and well established business with good facilities and a wealth of charm.
Tenure
LEASEHOLD £20,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.
The property is held on a 25 year lease which commenced on 1 October 2005. It is a full repairing and insuring term subject to a current rental of £40,000 per annum. Reviewed every fifth year of the term. The next review is due in 2025. The agreement, which is protected by Part II of the Landlord & Tenant Act, is free of any trading tie and is fully assignable. Under the terms of the lease the lessee is required to lodge with the freeholder a security deposit of one quarters rent.
No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.
The property is held on a 25 year lease which commenced on 1 October 2005. It is a full repairing and insuring term subject to a current rental of £40,000 per annum. Reviewed every fifth year of the term. The next review is due in 2025. The agreement, which is protected by Part II of the Landlord & Tenant Act, is free of any trading tie and is fully assignable. Under the terms of the lease the lessee is required to lodge with the freeholder a security deposit of one quarters rent.
No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.
Licence
A Premises Licence is held.
Services
All mains services are connected and the property has the benefit of gas fired central heating.
Enquire about this listing
Robin Mence
Midlands
