Stonesmith of Exeter has shaved £20,000 off the asking price for the leasehold of a restaurant in the upmarket Devon town of Topsham, which is now on the market for £75,000.

Marcello’s is a family-run Italian restaurant and pizzeria in the conservation area of Topsham, once a major port and shipbuilding centre beside the River Exe.

The business occupies a character Grade II-listed building with the 34-seat restaurant and corner bar on the ground floor and a second, currently unused, dining area on the second floor with space for 20 seats.

There is scope to expand the business by reopening the upper dining room and opening on Sundays. The first floor has space to add a second catering kitchen if required.

By Angela Frewin