One of the Bay’s most distinctive bars goes up for sale as owner heads into retirement
The bar, which has been put on the market by Bettesworths for £75,000, is described as a unique and very successful business with a fabulous position by Torquay harbourside.
One of the Bay’s most distinctive and best-loved bars is up for sale, offering a new owner the chance to take over a venue that agents describe as unlike anything else in South Devon.
Elton’s Piano Bar, on Torwood Street in Torquay, has been put on the market by Bettesworths for £75,000, with offers considered, as its owner heads into retirement. The sale is of the leasehold, and the business is being marketed as a “turnkey opportunity.”
The bar sits within the ‘At Harbourside’ development, less than 100 metres from the harbour, marina and waterfront. The agents say the area is one of the English Riviera’s principal leisure and hospitality destinations, with a mix of restaurants, bars, cafes, hotels and leisure businesses that creates a busy day and evening economy.
They say Elton’s has built a strong reputation as a premium evening destination, combining an elegant piano lounge atmosphere with cocktails, wines, champagnes and spirits, a tapas and sharing menu, and regular live piano and vocal entertainment.
Resident performers are said to have helped build repeat custom and the bar’s growing reputation, drawing a loyal local following as well as visitors to the English Riviera. A Yamaha grand piano sits in the far corner of the main trading area, which has a capacity of 200.
On its website, Elton’s describes itself as “a unique themed and sophisticated music venue” a short distance from the harbourside, where guests are promised a warm welcome. It also highlights its table service, with staff on hand to look after customers throughout their visit, and describes its surroundings as “opulent and luxurious.”
Matt Bettesworth, a director at Bettesworths, said: “Elton’s is a totally unique and very successful business enjoying a fabulous position by Torquay harbourside. This location has been transformed in recent years, with further development planned, and I can only see this business go from strength to strength.”
The listing says the business draws income from several sources, including premium drinks, tapas dining, sharing platters and seafood boards, private VIP parties and celebrations, and corporate and hospitality events. The bar also holds a 4am late licence.
It is run by a single owner, supported by three full-time staff and a flexible team of part-time employees. It opens from Wednesday to Sunday, with afternoon and evening service.
The agents say the venue currently operates on more of a lifestyle basis, which leaves clear scope for a new owner to extend opening hours, broaden the food offer, or build on private functions, events and entertainment-led trading.
The premises were completely refurbished five years ago and are fitted to what the agents call a high standard, with a sound system and integrated CCTV. As well as the main bar, there is a VIP raised section, a commercial kitchen, a beer cellar, and outside seating for more than 20 people. The property has an EPC rating of B.
The sale includes furnishings and equipment, excluding the owner’s personal effects. Stock and glassware will be taken on by the buyer at valuation on the day of completion.
The property is held on an internal repairing and insuring lease at a rent of £62,750 plus VAT a year, which has been fixed for the next five years. There is also a service charge of £7,000 plus VAT a year.
Viewings are by appointment through Bettesworths on 01803 212021.