Liskeard Freehold Cafe Coffee Shop With Extensive Accommodation For Sale

Business description

LOCATION:
Liskeard is an ancient stannary and market town at the head of the Looe valley in South East Cornwall. Located 14 miles west of the Tamar river, many residents commute to Plymouth to work and there is a large number of retired people. Within easy reach to the south of Liskeard are the coves and resorts of the south Cornish coast, whilst the vast rugged expanse of Bodmin Moor lies to the north. By-passed by but immediately adjacent to the A38 the town is both highly accessible and yet at the same time very peaceful.

BUSINESS:
Now offering 28 internal covers plus a most attractive lounge area seating 7 more as currently laid out, together with up to 16 external covers on the most attractive and enclosed rear terrace, the business trades just below the Vat registration threshold based upon opening hours which leave considerable room for expansion if desired. In our opinion the style, presentation and location of the premises make them ideally suitable for evening bistro/restaurant opening throughout the week.

The café/coffee shop offers an attractive range of breakfast muffins or baguettes, scones, teacakes and croissants, Cornish cream teas, a selection of cakes and pastries, sandwiches and paninis, soup, jacket potatoes, omelettes and salads as well as a range of daily lunch specials. Italian blend coffees are offered as well as hot chocolate, a selection of teas and cold beverages.

Currently unlicensed (the present owners decided to give up the licence in view of the associated costs and their chosen offering but we are certain, given the nature and location of the property, that a premises licence would be likely to be granted to new owners if required) patrons are permitted to bring their own wine to supplement meals and no corkage is charged.

The residential accommodation is extensive offering separate 3 bedroom apartments on both the first and second floors, the former being particularly attractive benefiting from high ceilings, very attractive period features and exposed floorboards. The second floor apartment could be let out to generate rent of c £500 per month or alternatively the whole could be operated by two families in comfort.

All mains services are connected with a gas fired boiler providing hot water and central heating to the ground and first floor accommodation. The second floor is fitted with electric wall heaters and an independent electric hot water system but we understand that the gas supply could be extended to this level without major expense.

Externally there is a virtually new large wooden storage shed, further outside store and 2 parking spaces forming part of a large privately owned shared car park accessible via steps up from the rear of the premises or by vehicle from Pound Street.

YEARS ESTABLISHED:
A licensed restaurant/bistro traded from the site following a substantial rebuild of the premises in 1976. The property was acquired by the present owners in 2004 since which time it has operated as a café/coffee shop.

TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £68,565 were reported for the year ended 31 March 2011 (£66,009 31 March 2010).

A very high gross profit margin is maintained being 74.1% in the year ended 31 March 2011 and having averaged 72.8% over a three year period.

With high quality accommodation forming part of the business premises and personal food consumption largely provided for, the abridged profit (average £25,834 per annum over the past three years) permits a good standard of living.

The business is deliberately operated below the Vat registration threshold by the current owners and undoubted potential exists to grow turnover and profitability through longer opening hours or perhaps through the re-introduction of a licensed evening bistro restaurant service.

REASON FOR SALE:
Retirement

STAFF:
The vendors are assisted by two part time staff (Mondays to Fridays) each working a maximum of 18 hours with two students working 4 hours each on Saturdays

Property information

Property:

Freehold