Lily's Restaurant, Exeter SOLD - 9th June 2010

Exeter city centre restaurant and cafe bar sold

A closed high quality daytime cafe/bar and restaurant in Exeter city centre has been sold by licensed property specialists Stonesmith of Exeter.

A leasehold lock-up property, Stonesmith completed the sale to Pasta Porto Ltd on behalf of the private landlord.

The business is set to reopen in the near future offering a new concept in Mediterranean style food.

Refurbished to a very high standard throughout in the last 2 years the premises are situated in a prime trading position fronting on to Fore Street in Exeter, close to the main shopping areas and a few minutes walk from Cathedral Green.

Internally the premises are fully air-conditioned and briefly comprise a split level interior. There is a ground floor dining area with stairs leading to an atrium dining area which in turn leads through to an elegant restaurant. The property was also sold with a fully equipped commercial catering kitchen and various ancillary and welfare facilities.

Mike Phillips of Stonesmith commented “The sale of Lily’s follows a number of notable local restaurant and café sales concluded by Stonesmith in recent months and with sales agreed on many other catering businesses throughout the South West, demand remains strong from buyers.”

Stonesmith sold Lily’s Restaurant on a new 21 year private free of tie lease off a guide price of £39,950.