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03 March 2020 | Restaurants

A fresh start for Devon restaurant leased by Christie & Co

Specialist business property adviser, Christie & Co are pleased to announce the new lease of 22 Mill Street, a restaurant located in Chagford, Devon.

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Nestled amongst the hills on the northeast side of Dartmoor National Park with easy access to the A30, Chagford boasts its own microclimate which gives it more sunshine and drier weather than the western side of the moor. The small-town circles around the octagonal Market House fondly called the Pepperpot which is surrounded by many fine, old granite buildings, the beautiful church of St Michael and a wealth of unique independent shops and art galleries.

22 Mill Street is positioned within a three-storey building and was previously operated as an Indian restaurant and a fine dining restaurant. There are two letting rooms and further owners’ accommodation on the upper floors. After owning and leasing out the business for several years our client decided to lease out the restaurant to a new owner, in order to focus on other business opportunities.

They comment, “We discussed options with Lloyd and felt that Mr Tanner offered an exciting opportunity to take 22 Mill Street in a new vibrant direction and offer something new to the community and tourist alike who visit Chagford. We are delighted to have concluded the lease and look forward to seeing the business grow from strength to strength.”
 
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Matt Tanner has secured the new lease of 22 Mill Street. Working as a brand designer for many years, he has now turned his hand to running “Folklore”, a cafe, pop up supper venue and live music space in the well-loved town of Chagford. He has now purchased 22 Mill Street as his permanent premises.

He comments, “Folklore will be a relaxed eating and events space for culinary adventurers, social explorers and little folk alike. The doors open in April 2020, and renovations are well under way in the property that Christie & Co helped to secure for the new business. Working together has been seamless and the advice provided by Lloyd and his team has been invaluable.”

With Dartmoor being popular with walkers and short stay holiday makers there is large demand for bed and breakfast rooms and longer lasting holiday lets. 22 Mill Street is in a prime part of Devon, and the building lends itself well to an owner operator such as Matt, who can take advantage of the living accommodation and re-establish this restaurant as a popular destination in the area.

Lloyd Colin, Business Agent at Christie & Co, handled the sale and comments, “There was a great deal of interest in 22 Mill Street and we received a number offers on both the freehold interest for the property as well a number of tenants looking to move to the picturesque village of Chagford.  There is great potential in this space and I am sure the Matt will create a vibrant social environment which I am looking forward to visiting once the business is up and running.”