Lovely Cafe And Tearoom With Accommodation In Torquay For Sale

Business description

PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)
The premises incorporate a spacious one bed flat at first floor level heated via electric storage radiators.

The flat is self contained with its own front door and comprises a ground floor hallway, from which there is an interconnecting door with the café kitchen, a feature staircase rising to the first floor landing, which gives access to a family bathroom and a large double bedroom to the rear, and a most attractive and spacious lounge and separate fully fitted kitchen to the front elevation overlooking Fore Street. The landing also accommodates a useful storage recess and access to a large loft space.

The flat is of unusually generous proportions throughout and would represent most comfortable residential accommodation for a couple looking to live above the business.

The current owners occupied the flat themselves for 5 years after they bought the business, before acquiring a separate property and the flat has been let to the same tenant for the past 12 years generating an income of £100 per week via an Assured Shorthold Tenancy.

OUTSIDE:
The property benefits from rear access. A service lane off Chilcott Close leads to a secure wooden door which opens into an enclosed passageway leading to a rear yard, shared with the neighbouring business, offering space for refuse pending collection and leading to the back door, which opens into the rear lobby.

Whilst there is no specific parking provision with the lease, the vendors advise that they have always been able to park in the service lane without causing obstruction to other users.

The area is served by plentiful public parking.

LEASE TERMS:
The business is being offered with the benefit of a new lease on full repairing and insuring terms with rent expected to remain at the current level of c £14,000 pa. The self contained flat generates letting income of £100 pw which has served to reduce the net rental for the property to just below £9,000 pa for the vendors in recent years.
Cellar (5.2m x 5.9m plus storage area adjacent to stone staircase):
From the Kitchen, a single step down into a small lobby gives access to a wooden door interconnecting with the private front hallway serving the residential accommodation at first floor level and also to an open stone staircase with 9 steps descending to:

From Prep Room 1 an open doorway gives access to:

Prep Room 2 (2.8m x 2.0m):
Rear Lobby (3.4m x 0.9m):
To the rear of the Kitchen a single step up leads to:

Prep Room 1 (5.0m x 1.9m):
From the Rear Dining Area a gentle slope rises to a wooden door with obscure glazed panel giving access to:

Commercial Kitchen 3.4m x 3.6m):
WC Facility:
From the Rear Dining Area a wooden door opens to:
A licence is held from Torbay Council permitting up to 12 external covers in the pedestrianised area immediately outside the premises.
Rear Dining Area (3.9m x 3.7m plus alcove):
An open archway leads to:
Main Dining Area (5.2m x 5.2m plus bays):
• ATTRACTIVELY LOCATED IN ST MARYCHURCH PRECINCT
• 38 INTERNAL AND 12 EXTERNAL COVERS
• AVAILABLE FOR THE FIRST TIME IN 18 YEARS
• CONSISTENT ALL YEAR ROUND TRADE
• ONE BED FLAT OVER OF SPACIOUS PROPORTIONS
• VIEWING STRONGLY RECOMMENDED

LOCATION:
The business occupies an attractive position in the Fore Street precinct in St Marychurch, Torquay.

BUSINESS:
This lovely café/tea room stands in a most appealing location in a very popular pedestrianised main thoroughfare near Babbacombe and benefits from a consistent all year round trade. Offering 38 internal and 12 external covers and including an unusually spacious, self contained, one bed flat over, the business is available for the first time in 18 years. Delivering very good gross and net profits this represents a perfect opportunity for a committed couple to acquire a solid and predictable income. Offered with a new lease, we feel a viewing is essential to appreciate fully what is on offer.

The traditional menu, which is deliberately structured to appeal to a very loyal elderly clientele, includes cooked breakfasts, a choice of two lunchtime roast meats as well as daily specials, sandwiches, baguettes, paninis, filled jacket potatoes, vegetarian options, traditional hot desserts, ice creams, cakes, scones and a range of hot and cold beverages. The lunchtime roasts are exceptionally popular with bookings taken for sittings at both 12.00 noon and 1pm daily.

The external covers are very popular during the warmer months, the precinct offering a most attractive ambience.

The vendors decided not to retain an alcohol licence although we do not envisage there would be any objection to the granting of a table licence if considered desirable by the new owners.

YEARS ESTABLISHED:
The business has been established for many years, the vendors having acquired it 18 years ago.

TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £125,129 were reported for the year ended 31 March 2011 and averaged £129,879 per annum over a 4 year period peaking at £135,892. The vendors have traditionally closed the business for two weeks each January to permit a family holiday but have decided to remain open during their absence in 2012 as the team of employed staff is regarded as very capable.

Gross profit margins have shown a consistently improving trend reaching 67.8% which assisted delivery of an abridged net profit of £35,189 in the year ended 31 March 2011 after rental income of £100 pw week from the flat is taken into account.

Some wages savings have been made in the past 12 months and although sales are down slightly in 2011/12 in comparison with the previous year the vendors expect the bottom line profit to be unchanged.

The business does not currently open on Sundays but in this location we do feel that this could be a highly profitable option for the future.

REASON FOR SALE:
After running the business successfully for 18 years, the vendors are looking to reduce working hours and have another business opportunity in mind in a non-competing sector.

STAFF:
The vendors each work 5 days and are supported by 4 x part time staff (16 hours each) and 1/2 Saturday girls each working 5 hours.

OPENING HOURS:
Sundays: Closed
Monday to Friday: 9.30am to 4.30pm
Saturdays: 9.00am to 4.00pm

During the summer months hours are extended on a flexible basis dependent upon the anticipated demand on the day.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
This terraced property of brick construction with rendered elevations under a pitched and tiled roof is mainly laid out over 2 floors but benefits from a very spacious cellar.

The commercial premises may be described briefly as follows:

Most attractive frontage with double bay windows and a recessed, largely glazed, entrance door, centrally set, opening into:

Property information

Property:

Leasehold