Market Jew Street, Penzance, Cornwall, TR18 2HN

This is a wonderful opportunity to acquire a popular Leasehold Cafe in the centre of the thriving harbourside town of Penzance, that is available by way of an assignment of the existing 15 year lease at a current passing rental of £1,750 pcm. A feature of note is that the building also benefits from a spacious 1 bedroom apartment with views towards St Michaels Mount from the top floor.

This delightful business has been operated by our clients for several years with the assistance of a small team of trusted and experienced employees and is now being offered for sale due to family commitments.

The Terrace Cafe has enjoyed a consistent turnover in recent years of circa £250,000, and through choice, our clients currently trade Monday to Saturday from 10am to mid-PM and are closed on Sundays. There is in our opinion, tremendous scope for new owners to develop the business through extending the opening hours to include evening & breakfast service in the Summer months along with possibly obtaining a premises licence for the sale of alcohol (subject to the requisite consents). To view current menus and for additional images please visit our clients website www.theterracepenzance.co.uk

Property Description/Overview (Please see attached Floor Plan & Virtual Tour)

This impressive period property is laid out over four floors and comprises in brief a lower ground floor dining area which is perfect for private functions and events along with day to day usage. The ground floor has the service point/counter with additional seating, off which, is a rear corridor that provides access to the upper floors and a customer/staff toilet. It is worth noting that there is a separate access door to the adjoining pedestrian thoroughfare and the Cafe itself can be locked off to allow subletting of the apartment (subject to landlords consent).

The well equipped commercial kitchen and preparation room are located on the first floor along with the entrance to the apartment which comprises a kitchen/diner, dual aspect lounge, double bedroom, bathroom & separate cloakroom.

Information
The information provided in this listing, including any details relating to material facts, is offered in good faith and to the best of our knowledge. However, purchasers are strongly advised to satisfy themselves as to the accuracy of any information provided, as these details are not to be relied upon.

We recommend that all information—particularly relating to boundaries, tenure, planning, covenants, and other legal matters—be verified by your solicitor upon the commencement of a sale.

Please note, we do not act in the capacity of a Chartered Surveyor. Any comments regarding the construction, condition, or structure of the property are assumptions and should not be treated as statements of fact. We strongly advise that an independent surveyor be instructed to carry out a full inspection for confirmation of these details.

Measurements are approximate and for guidance purposes only. Any items, fixtures, or fittings referred to in these particulars are not necessarily included in the sale unless specifically stated within the Fixtures and Fittings forms provided by the seller and confirmed via the conveyancers.

Material Information

Tenure : Leasehold. The business is being sold by way of an assignment of the existing 15 year FRI lease which commenced on the 24th August 2015 with the current rent being £1,750 pcm. A copy of the lease is available from the selling agent, subject to a viewing appointment in the first instance.

Accounts: Accounts will only be made available subject to a viewing appointment in the first instance.

Construction Type: Construction not confirmed by a professional. Please refer to your surveyors’ comments.
Age of Construction: Age of construction not confirmed by a professional. Please refer to your surveyors’ comments.
Heating: Gas Central Heating
Water Supply: Mains supply.
Sewage: Mains drainage.
Electricity: Mains supply.

Council Tax: The apartment has a council tax banding of A.

Business Rates: Current rateable value as of 1st April 2023 is £8,600

Fixtures & Fittings: The business is being offered for sale as a going concern to include a comprehensive inventory of equipment, fixtures and fittings.
EPC: C

ANTI-MONEY LAUNDERING REGULATIONS – Purchasers
It is a legal requirement that we receive verified identification from all buyers before a sale can be instructed. We ask for your cooperation on this matter to ensure there is no unnecessary delay in agreeing a sale. We will inform you of the process once your offer has been accepted.

PROOF OF FINANCE – Purchasers
Before agreeing a sale, we will require proof of your financial ability to purchase. Again, we ask for your cooperation on this matter to avoid any unnecessary delays in agreeing a sale and we will inform you of what we require prior to agreeing a sale.