Local gourmet deli owners snap up Restaurant 42

3rd November 2008, 2:51pm

The acclaimed Restaurant 42, which has a spectacular waterfront location in the sought after South Devon resort and sailing centre of Salcombe, has been sold through the Exeter office of restaurant agents, Christie + Co, amidst strong interest, to the owners of a local gourmet delicatessen who will trade the business as bar and brasserie.

This 75-cover restaurant, bar and brasserie with a 30-cover patio terrace is located at 42 Fore Street and enjoys stunning panoramic views across the estuary. It occupies part of the ground floor at garden level of the former Salcombe Hotel, built in the 1890s and now converted to luxury apartments with 350 degrees of private water frontage. There are beautiful views across the bay from the restaurant and its waterside terrace as well as a private mooring and car park for the owners.

Salcombe is a chic maritime town set on a lush wooded hillside overlooking the estuary with some of the best sailing waters in the UK, a picturesque quayside and a winding high street lined with designer shops, chic restaurants and delis. It is the most southerly town in the South Hams, an Area of Outstanding Natural Beauty with dramatic coastal walks, beautiful beaches, sandy coves, wooded river estuaries, ancient towns and picture-postcard villages.

David Reeves from Christie + Co's Exeter office commented: "We were appointed to handle the sale of Restaurant 42 on behalf of Neil and Jane Storkey, who had owned the business for five successful years and are now relocating. Described by the AA Restaurant Guide as "one of Salcombe's best kept secrets," Restaurant 42 earned 2 AA Rosettes and inclusion in the Michelin Guide within its first two years of trading and retained its Michelin and Trencherman's Guide entries for 2008.

The sale of this sought after waterfront business generated a high level of interest at an early stage. An offer was quickly received from local gourmet delicatessen owners, Richard, Julie and William Bouverat, who own and run the nearby Salcombe Delicatessen at 52 Fore Street and are delighted to have acquired the restaurant.

Richard, Julie and William Bouverat will trade the business as Dick and Will's Waterside Bar and Brasserie. The concept will be on a New England theme. They intend to extend the opening hours and will offer an all day menu of snacks and meals."

Restaurant 42 was sold for an undisclosed figure after Christie + co sought £110,000 for the remaining 13 years of the current lease. The current annual rent is £13,000 and there is an additional management charge of £8,500.