Meat-free mecca Exeter vegetarian restaurant Herbies for sale

Exeter’s first ever veggie restaurant is for sale for the first time in 25 years because its owners are retiring

Exeter’s first vegetarian restaurant is on the market for the first time in 25 years because its owners are retiring.

Herbies, in North Street, is the only dedicated vegetarian licensed eatery in the city, and offers are invited in the region of £115,000 for its leasehold.

Alongside the thriving restaurant the sale also includes a three-bedroom family home and private roof terrace, above Herbies.

Property agent Stonesmith said the restaurant has been owned by a husband and wife team for the last 25 years and is for sale due to retirement; it has ‘excellent levels’ of regular repeat trade and word of mouth recommendations, plus a TripAdvisor award for excellence.

A spokesperson for Stonesmith said the sale offered an opportunity to buy a thriving and well-regarded Exeter city centre restaurant with a widely renowned reputation; it has ‘excellent’ levels of trade and profits and ‘impressive’ family sized owners’ accommodation.

Because of impending retirement, the current owners have chosen to restrict the opening hours of the business, which could be extended with new owners.

The Stonesmith spokesperson said: “Our clients advise that there is still tremendous potential to increase the current trade levels, particularly by increasing the opening hours, for which demand undoubtedly exists.

“There are also opportunities to develop a website and make use of social media and other allied advertising and marketing initiatives.

“There is also potential for incoming operators to develop their own style of cuisine in a manner to suit their own personal requirements.”

The agent added: “Our clients are prepared to offer a full handover and training to interested parties, should they so require it, and all recipes will be included in the sale.

“The sale of Herbies provides purchasers the opportunity to acquire a renowned restaurant business with an enviable reputation and impressive family sized accommodation.

“Coupled with this are the excellent levels of trade and profits which the business generates with trade levels showing a growth year on year.”

Accounts for the year ending April 30, 2017, show sales of £216,727 net of VAT and a net profit in excess of £62,000 being achieved.

Full detailed accounting information can be made available to interested parties following a formal viewing appointment.

Contact Stonesmith for more information.

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