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Vibrant Character Licensed Cafe Bar For Sale

Exeter, Devon, UK
Asking Price:
£49,950
Sales Revenue:
£168,122
Cash Flow:
Available on request

The property
The Glorious Art House is a vibrant, lively cafe bar and creative centre with a fun and colourful quirky Mexican inspired décor. This well regarded licensed cafe bar and coffee shop is well presented throughout and benefits from an established loyal following with regular repeat trade. Occupying the whole of this character Grade II listed property the business currently trades as a well-regarded licensed cafe bar and coffee shop trading on a predominately daytime only basis and is a popular meeting place for students, creative and artistic groups and societies. The sale of The Glorious Art House offers undoubted potential for incoming operators to build on the existing levels of trade and develop the style of trade to suit their own requirements and to take advantage of this truly unique business with an established trade and reputation within Exeter city centre. The premises briefly comprise: - Main Cafe Seating and Servery Area (14), First Floor Seating Area (18), Enclosed Rear Courtyard (10), Owner's Private Studio/Office/Meeting Room on the second floor with potential for further customer seating or alternative uses, and an Attic Room on the third floor.

Situation
The Glorious Art House is situated in a prime trading location fronting Fore Street, close to the high street and main shopping areas within Exeter city centre. Fore Street is in Exeter's independent West Quarter, a few minute's walk from Cathedral Green and has a vibrant and eclectic mix of unique shops and creative businesses and forms part of a rich local community. The businesses work together to promote individuality, style and a good alternative to the normal high street brands and establishments. Exeter itself is the regional capital of the South West and as such, is not only an established and expanding business centre, but also a popular tourist destination year round. Renowned for its historic cathedral, University and waterside developments, Exeter boasts excellent transport communications with 2 mainline rail links to London, an International Airport and easy access to the M5 Motorway at Junction 30.

Internal details
Ground floor - Fully glazed frontage with recessed glazed entrance door leading into Main Cafe Area with quirky, fun and colourful décor, stripped wood flooring, wall mounted menu boards, feature lighting, range of freestanding wooden tables, chairs and sofa seating upto 14 customers. Customer Bar Servery and Preparation Area a wood fronted and Mexican tiled topped substantial customer servery with serve over counter, cake displays, savoury displays, feature back bar display, tiled preparation work surfaces to the rear, San Remo commercial coffee machine, coffee grinder, smoothie maker, 3 under counter fridges, fridge freezer, toaster, soup kettle, microwave oven, 2 warming ovens, EPOS touch screen cash register, stainless steel sink unit and hand basin.

First floor - Customer Seating Area a character filled room with bay window to front, stripped wood flooring, a range of freestanding wooden tables and chairs seating upto 18 customers.

Second floor - Customer WC. Owner's Private Studio Room/Office with potential for alternative uses including further customer seating with painted wood flooring and bay window to front.

Third floor - An Attic Room with far reaching views and aspect to rear, access to eves storage space.

Basement - Storage space.

External details
To the rear of the property is an enclosed gravelled Courtyard with tables and chairs providing al fresco customer seating for 10 customers.

The business
The Glorious Art House is a vibrant, lively cafe bar and creative/artistic hub which was opened by our client in 2014 with the intention of combining great coffee and exciting visual delights and making every visit an out of the ordinary coffee shop experience. Inspired by the colours and patterns of Mexico, the cafe and whole building is described as a living work of art. Since its creation, it has become a popular and thriving hub for writers, musicians, actors, creative minds and coffee lovers to get together for conversation, live music and work meetings. Exhibitions, workshops and weekly childrens singalong sessions also take place. The business has a strong and popular following amongst students and benefits from the extensive student accommodation in the immediate area. The Glorious Art House trades as a predominately daytime licensed cafe bar and coffee shop, with occasional evening opening for specific arranged or pre-booked events.
The cafe offers a simple and easy to prepare menu including pastries and waffles, croissants, and bread from breakfast through to light lunches and with the addition of salads, soup and baguettes at lunchtimes all accompanied with a selection of cakes and tray bakes and quality hot and cold non-alcoholic and alcoholic beverages. The business benefits from a license to sell alcohol, with the intention to extend trade into the evenings, however this has never been fully exploited by our client. The Glorious Art House has an excellent and active social media following, with over 4000 followers on Facebook. The business also has its own website which provides further background information. Our client is prepared to offer a full handover and training to interested parties, should they so require it and a viewing is highly recommended to fully appreciate all aspects of this most unique business.

Trading information
Prior to the pandemic, the business has achieved sales of £168,122 net of VAT. Full detailed trading information can be made available to interested parties following a formal viewing appointment.

Opening hours
The business trades on deliberately restricted opening hours of 9.00am until 5.00pm Tuesday to Friday; 10.00am until 6.00pm on Saturday and 10.00am until 4.00pm on Sunday. The business is closed on Monday.

Current staffing
The business is run entirely by staff, with no involvement from our client in the day to day running of the business. 1 full time manager and 4 part time members of staff are employed.

Potential
The sale of The Glorious Art House represents a perfect opportunity to purchase an easy to run predominately daytime only licensed cafe bar and coffee shop with an established clientele and which offers tremendous potential for new hands-on owners to develop all aspects of the business and boost trade levels still further. Our client currently utilises the second-floor room as her own studio, however this could be reconfigured for alternative uses including further customer seating, if so desired. Undoubtedly, there is specific potential for hands on owner operators to reduce the wage bill and develop all aspects of the business particularly by extending the opening hours. There is also the opportunity to make better use of the alcohol license, by offering more regular evening opening, for which demand exists. There is also the potential for new owners to develop their own style of trade to suit their own personal requirements. An early appointment to view is highly recommended in order to fully appreciate all that this unique and easy to run business has to offer.

EPC
Listed building and therefore exempt.

Rating
For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website We are advised by our client that no rates are currently payable at the property.

Services
All mains services with the exception of mains gas are connected to the subject property.

Price & tenure
£49,950 for the valuable leasehold interest as a going concern business and full trade inventory. Wet and dry stock to be additional at valuation. Vacant possession upon completion. The premises are held on a renewable lease with a term of 10 years from June 2014 at a rent of £10,764 per annum, including building insurance, paid monthly in advance. The tenant has full repairing obligations. Further details available on request.

Property Information

Property:

Leasehold

Lease Terms:

£49,950 for the valuable leasehold interest as a going concern business and full trade inventory. Wet and dry stock to be additional at valuation. Vacant possession upon completion. The premises are held on a renewable lease with a term of 10 years from June 2014 at a rent of £10,764 per annum, including building insurance, paid monthly in advance. The tenant has full repairing obligations. Further details available on request.

Location:

The Glorious Art House is situated in a prime trading location fronting Fore Street, close to the high street and main shopping areas within Exeter city centre. Fore Street is in Exeter’s independent West Quarter, a few minute’s walk from Cathedral Green and has a vibrant and eclectic mix of unique shops and creative businesses and forms part of a rich local community. The businesses work together to promote individuality, style and a good alternative to the normal high street brands and establishments. Exeter itself is the regional capital of the South West and as such, is not only an established and expanding business centre, but also a popular tourist destination year round. Renowned for its historic cathedral, University and waterside developments, Exeter boasts excellent transport communications with 2 mainline rail links to London, an International Airport and easy access to the M5 Motorway at Junction 30.

Premises Details:

The Glorious Art House is a vibrant, lively cafe bar and creative centre with a fun and colourful quirky Mexican inspired décor. This well regarded licensed cafe bar and coffee shop is well presented throughout and benefits from an established loyal following with regular repeat trade. Occupying the whole of this character Grade II listed property the business currently trades as a well-regarded licensed cafe bar and coffee shop trading on a predominately daytime only basis and is a popular meeting place for students, creative and artistic groups and societies. The sale of The Glorious Art House offers undoubted potential for incoming operators to build on the existing levels of trade and develop the style of trade to suit their own requirements and to take advantage of this truly unique business with an established trade and reputation within Exeter city centre. The premises briefly comprise: - Main Cafe Seating and Servery Area (14), First Floor Seating Area (18), Enclosed Rear Courtyard (10), Owner’s Private Studio/Office/Meeting Room on the second floor with potential for further customer seating or alternative uses, and an Attic Room on the third floor

Business Operation

Trading hours:

The business trades on deliberately restricted opening hours of 9.00am until 5.00pm Tuesday to Friday; 10.00am until 6.00pm on Saturday and 10.00am until 4.00pm on Sunday. The business is closed on Monday.

Employees:
The business is run entirely by staff, with no involvement from our client in the day to day running of the business. 1 full time manager and 4 part time members of staff are employed.

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