The home in Ilfracombe, a seaside resort in Devon, in the United Kingdom, is not just a living space, but partly a commercial opportunity too – with a cafe premises on the ground floor.
Above the cafe is a four-bedroom family living space which features an incredible 36-foot-long living room and an upturned hull of a ship-like design.
Previous owner Damien Hirst restored the 3,057-square-foot property in recent years, with a huge window installed to give impressive views across the Bristol Channel.
The property, known as “11 The Quay”, is described as a “landmark building in Ilfracombe” and “a very attractive and substantial property situated in one of the town’s most sought after locations sitting immediately adjacent to the picturesque harbor”.
Further improvements have been made by the current owner to completely transform the upper floors of the building to form fabulous living accommodation which is beautifully appointed and refurbished to a very high standard.
The stunning building could be rented out as a vacation let, and the income for the period between April and October 2021 was circa 55,000 pounds ($66,800) with the ground floor cafe premises during July and August alone producing 49,000 pounds ($59,500), just on the cafe, not boat ticket sales.
If the ground floor were to be let on a commercial lease, an annual rent in the region of 20,000 – 25,000 pounds ($24,000 to $30,000) should be achievable, according to the realtors.
A stunning harborside home which was restored by world-renowned artist Damien Hirst has been listed for sale – for $1.2 million. (Matthew Newby, SWNS/Zenger)
A spokesperson for Webbers, the real estate agents, said that “11 The Quay is somewhat of a landmark building in Ilfracombe, being a very attractive and substantial property situated in one of the towns’ most sought after locations sitting immediately adjacent to the picturesque harbor.”
They added: “The property was completely renovated and restored in recent times by previous owner and world-renowned artist, Damien Hirst, who re-opened what was once the White Hart Inn as a high-quality bistro/bar and restaurant.
“Further improvements have been made by the current owner to completely transform the upper floors of the building to form fabulous living accommodation.”
Hirst’s restaurant started his connection with Ilfracombe and was a highly acclaimed mainstay of the town’s foodie scene since it opened in 2004.
But the artist confirmed he would cease trading there in October 2018.
Speaking about the decision to close the restaurant, a spokesman for Hirst’s company, Science Ltd, said at the time: “Damien is making changes at his company and has made the difficult decision to close The Quay and sell or rent all the properties he owns on the seafront, finding the right people to take them on.
A stunning harborside home which was restored by world-renowned artist Damien Hirst has been listed for sale – for $1.2 million. (Matthew Newby, SWNS/Zenger)
“Damien has a long history with Ilfracombe and loves the people and the area.”
The spokesman said it had been a very difficult decision for Mr. Hirst to come to.
They said he did not consider himself a restaurateur and believed someone else would make better use of the prominent property.
The property is inviting offers over 1 million pounds ($1.2 million).
