Leasehold of The Mermaid St Ives Now Available

Mermaid Seafood Restaurant is Searching for a New Owner to Take the Helm After 40 Successful Years

Situated in the heart of St Ives at 'Down-a-Long', the town's historic fishing quarter, the Mermaid Seafood Restaurant is one of the area's oldest and most popular family-owned establishments. With its wood-panelled rooms, church pews, and walls decorated with fishing nets and photos, the restaurant has long been a charming part of the local dining scene.

The restaurant is now on the market, offering an exciting opportunity for restaurateurs looking to continue its wave of success as the oldest and arguably the most successful restaurant in town. With an extensive menu featuring only the finest and freshest locally caught seafood, alongside a selection of locally farmed meat and poultry, and a carefully curated wine list, the Mermaid has long been a staple in St Ives.

The Mermaid has been family run for over four decades by the current owner Matthew Smith and his parents before Matthew and his wife Roz took the helm 22 years ago.
This renowned property is located just steps from the picturesque Porthmeor Beach, occupying an attractive former cottage at the end of a terrace on Fish Street, which connects to Back Road East at its northern end. The two-storey stone building was converted to house a ground-floor restaurant with a spacious flat above.

The leasehold interest of this prime location is now available, with a 21-year lease beginning in April 2023. The current rent is £30,000 per annum, subject to review every four years, with the next review scheduled for April 2027.

The current owners, Matthew and Roz Smith, who have continued the family business as a husband-and-wife team for the past two decades, commented: "After some incredible years, we're ready for the next chapter. The Mermaid has been a beloved institution in St Ives, and it's been a privilege to serve the local community and our visitors. This is a fantastic opportunity for new owners to take the reins of the town's oldest and one of its most successful restaurants."

Nick Fisher, Senior Associate at Fleurets, said, "Matthew and Roz have created something truly special with the Mermaid, establishing it as a cornerstone of St Ives' dining scene. For over 40 years, they've built a reputation for offering fresh, locally sourced seafood and exceptional hospitality."

Joint agent Sally French from SF Commercial added, "As Matthew and Roz look to retire, this is a fantastic opportunity for someone to not only continue that success but also explore further growth. With its prime location near Porthmeor Beach and the potential for expansion, this is a rare opportunity for restaurateurs looking to take over a well-loved, thriving business."

For further information or to arrange a viewing, please contact Fleurets at west@fleurets.com or call 0117 923 8090, or Joint Agent Sally French from SF Commercial on 07772 50166.

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