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Well Established Tearoom For Sale

Hertfordshire, Hertfordshire, UK
Asking Price:
£324,995
Sales Revenue:
£364,402
Cash Flow:
Available on request

Business
Please quote reference B06859

Hilton Smythe welcomes to the market an exciting opportunity to acquire (on a leasehold basis) an exceptionally well run and popular vintage style tearoom.

The business has been under the careful and meticulous ownership of our client since 2013, building up an excellent reputation. The business has only now come to the open market as our client wishes to leave the industry after many successful years of trading, and who would like to see the business pass to someone with the same drive and enthusiasm to take the business forward.

The business is a vintage style tearoom / restaurant offering quality, home cooked fayre including breakfasts, lunches, and its legendary afternoon teas, in a relaxed setting and only using locally sourced ingredients that are delivered daily, with all scones and cakes being baked fresh and daily on the premises, with the quality and service leading to some excellent online reviews for the business The licenced premises can accommodate 45-50 covers internally, with a further 45 covers externally which are located in a courtyard setting to the rear of the premises which is extremely popular in the summer months.

We feel that there is scope to increase turnover and take the business to the next level by undertaking in a robust localised marketing campaign to generate new business, along with offering an outside catering service for events, also introduce a facility to hire out the venue for clubs and meetings for various local groups and looking at revised operating hours.

The current business owner is more than happy to offer an extended hand over period if required.

All fixtures and fittings are included in the sale.

A tremendous opportunity to own this well-established and popular business, and early viewings are highly recommended to avoid disappointment.

Location
The business is located in a prime trading location in the historic market town and benefits from being surrounded by a host of complementary businesses leading to an exceptional level of footfall and passing trade.

Premises
The business is located in a traditional tearoom/restaurant style premises, with a feature service counter located to the front of the premises, with ample seating room with a selection of tables and chairs, to the rear of the premises is a fully equipped commercial kitchen area with ample storage facilities. Outside at the rear of the premises is a courtyard area with an additional 45 covers. The business further benefits from disabled access through the rear garden area, and full CCTV system and security alarm system.

The business can be found in turnkey condition leaving very little investment for a new owner.

The business owner has kept up with annual redecorating, kitchen deep cleaning & general maintenance on a regular basis. A full rewiring and new consumer units were installed in 2017.
The owner has invested large amounts of time on upgrading both the interior and exterior decor as well as re-placing all the equipment with high quality catering units which will last for many years to come.

The town has had 2 large house developments being built and one large one that is still being added to.

Tenure
We are advised the business is being sold on a Leasehold basis with 15 years remaining on the Lease, the rent is £2000 per month.

Hours
The business trading hours are as followed:
Monday to Saturday - 09:00am - 17:00pm

Sunday - 10:00am - 16:00pm

Staff
The business is run and managed by 9 full time and 12 part time staff members.

Financial Profile
We are advised the business generated a turnover of circa £360,000 as of 2021, further financial information can be made available upon request.

Please quote reference B06859

Property Information

Property:

Leasehold

Contact Hilton Smythe

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