Refurbished quay restaurant for sale without opening

»»AN Exeter restaurant which was refurbished into an Italian restaurant but never actually opened is now back on the market.

In October 2023, it was announced an Italian restaurant called La Riva would open in a vacant unit on Exeter Quay, just a few months after Wabi-Sabi Bay Asion fusion restaurant left the site after its assets were seized.

A notice in the window said La Riva was hiring “chefs/cooks with Italian food experience” and asked potential applicants to get in touch.

In November 2023, The Italian Cafe Ltd applied for a new premises licence at the site on Commercial Road, which would enable it to open late, serve alcohol and late-night refreshments and play live and recorded music.

The site has stood empty ever since.

The restaurant is now being advertised by Rossiter Property Consultants, which has described it as a “retail opportunity”.

The leasehold is for sale for £500,000, which will include both the restaurant and the outside seating area. Its rental value has been estimated as £4,000 per year.

In the brochure, Rossiter Property Consultants said: “The property comprises a stone constructed substantial waterside premises and restaurant with outside seating terrace area to the river frontage.

“The property has been extensively fitted out with a bar and internal restaurant area, kitchen area and male and female/disabled WCs.

“To the rear of the kitchen area is a store with ventilation extract and delivery access along with a right of way for the apartments above to the refuse bins.”