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SUPERBLY PRESENTED TEA SHOP/CAFE WITH 3 BED FLAT - Heavitree, Exeter
Price:
Leasehold - £69,950
Location:
Devon, Heavitree, Exeter
Business Type:
Food Service Businesses
HIGHLIGHTS:
• BUSY FORE STREET LOCATION
• FULLY REFURBISHED BY PRESENT OWNERS
• 20 INTERNAL COVERS PLUS LOVELY REAR COURTYARD
• SPACIOUS FAMILY ACCOMMODATION OVER
• ABOVE AVERAGE PROFITABILITY
• EARLY VIEWING STRONGLY RECOMMENDED
LOCATION:
The business is located in Fore Street, Heavitree, a very busy thoroughfare with a good range of shops close to the Royal Devon and Exeter Hospital, serving a large residential area.
BUSINESS:
This busy tea shop/café offers 20 internal covers, a very attractive rear courtyard dining area providing 11 covers and a spacious, self contained 3 bed flat over. Fully refurbished by the present owners, the rent is very low and performance strong, delivering above average profitability. An early viewing is strongly recommended.
The business offers a full breakfast menu, assorted homemade cookies and cakes, ‘lite bites’ including baguettes, sandwiches and hot paninis, jacket potatoes and omelettes with assorted fillings, main meals including daily specials and a full range of hot and cold beverages. A buffet service is also available and occasional orders for external catering are received and fulfilled.
YEARS ESTABLISHED:
A business of this type is understood to have traded from the site under various styles for more than 20 years. The premises were acquired by the present owners in July 2008, gutted and fully refurbished throughout before re-opening under the current trading name.
TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
The business generated sales of £70,717 in the year ended 5 April 2010. The vendors advise that sales have remained similar in the year ended 5 April 2011 (accounts not yet available) and the business continues to trade just below the threshold for Vat registration.
NET PROFIT:
An abridged profit of £47,029 was reported for the year ended 5 April 2010. This is after payment of rent of £4,875 attributed to the commercial part of the premises (the total rent to include the 3 bed flat being £9,500 pa). The business is run very efficiently by a committed couple with little additional assistance and shows what is possible even in more challenging economic times.
REASON FOR SALE:
The vendors are planning to emigrate
STAFF:
The vendors currently operate the business with one part time staff member on Saturdays only and only occasional further help with buffets or outside catering events
OPENING HOURS:
Monday to Saturday; 9.00am to 3.00pm
Sunday: 10.00am to 2.00pm
The vendors feel that potential exists to extend hours in this location and to offer an evening delivery service.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The property, which forms part of a period terrace, is of brick construction under a pitched and tiled roof with part rendered elevations and is laid out over three floors.
The Tea Room/Café occupies the ground floor accommodation and a wooden door to the left side allows access to the spacious and self contained 3 bed flat, which occupies the first and second floors.
A large display window with further glazed panel over with integral vents, is set in an aluminium frame and the matching, fully glazed front door standing to the right hand side, also with a glazed panel over, opens with a small step down, into:
Tea Room/Café (8.2m x 4.2m max narrowing to 3.6m):
• Non slip floor covering
• Wooden window to rear elevation overlooking the rear courtyard area
• Wooden tables, each with glass tops and wooden chairs, are arranged to offer 20 covers in a combination of 2, 4 & 6 covers
• Dado rail
• 2 x radiators
• Serve over chiller display unit
• Coca Cola cold drink display unit to side
• Carousel display of a small selection of greetings cards
• To the rear wall, which has mirrors to part, and to the rear right hand side, a roll edged work surface with open storage under accommodates an Iberital coffee machine, a Swan water boiler and an electric till
• There is also a wall mounted CD/MP3 player
• An open doorway to the left rear gives access to:
Rear Hall:
• Non slip floor surface
• Half glazed wooden door to rear courtyard area including access to the customer WC facility
• Open doorway to:
Kitchen (5.3m x 2.7m max narrowing to 1.5m):
• Obscure glazed window to side elevation
• Non slip floor surface
• Fluorescent lighting
• Twin, stainless steel, circular sink units set in a roll edged work surface with tiled splash back and open storage area under alongside an EC02 glass washer and a tumble dryer
• Upright fridge freezer
• Freestanding Executor
• Stainless steel preparation surface with tiled splash back with wooden shelving over for crockery and microwave oven
• Further roll edged work surface with open storage area under alongside a 3 drawer unit
• Tefal Dual twin deep fat fryer
• Buffalo griddle
• Electric oven with 4 ring gas hob
• Sharp Jet convection oven/grill
• Wall mounted gas boiler supplying hot water and central heating
• Half glazed wooden interconnecting door giving access to the Ground Floor Hall leading to the private accommodation
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
OUTSIDE:
A half glazed wooden door from the Rear Hall gives access to the customer WC facility and a most attractive rear courtyard accommodating two separate dining areas, one under cover, the other in the open. The whole of the space is enclosed by high walls offering shelter from any breeze and represents a real sun trap. The area and the ancillary facilities may be described in more detail as follows:
• A raised decking area under a canopy/shelter of corrugated polycarbonate is enclosed by a wooden gallery being dressed attractively in season by a large honeysuckle. This accommodates 2 x glass topped circular tables with seating providing four covers in total
• There are two flowerbeds with brick retaining walls and assorted potted plants and shrubs adding to the overall ambience
• A wooden door to the left gives access to the unisex WC facility with vinyl floor, which accommodates a wall mounted, ceramic wash hand basin with tiled splash back and mirror over, a wall mounted electric hand dryer and a low flush WC
• Towards the rear a further wooden door with 2 steps up gives access to a large, brick built shed (6.3m approx x 3.3m approx) under a flat roof. This very useful outside storage facility (restricted ceiling height to part) with obscure glazed window to the side elevation currently accommodates 2 chest freezers and a further upright freezer but much of the available space is unused
• There are two further, brick built storage sheds each under a sloping roof of corrugated metal and with separate wooden doors
• To the rear of the outside space and enclosed on 3 sides is an area of raised paving (6.3m x 2.3m widening to 3.7m) furnished attractively with 2 x brand new wooden loveseat type arrangements (4 covers in total) and a further circular table with parasol and seating for 3. Wall mounted flower baskets add to the atmosphere.
PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)
The spacious 3 bed flat is self contained and capable of being let independently of the business (potential rental income of c £600 pcm considered reasonable).
A wooden door to the left of the tea room/café’s display window opens into a small porch with half glazed wooden door with further glazed panel over opening into:
Ground Floor Hall (6.9m long):
The stairs rise to a mini landing from which three carpeted stairs to the rear give access to a rear landing with obscure glazed skylight to side elevation and wooden doors to:
Family Bathroom (1.7m x 2.2m):
Kitchen (2.7m x 2.9m):
Returning to the mini landing, four carpeted stairs rise to the main first floor landing with radiator and wooden doors to:
Lounge (4.3m x 4.0m):
Front Bedroom (2.0m x 4.0m):
Rear Bedroom (3.7m max x 4.0m):
From the first floor landing carpeted stairs rise with skylight to rear elevation and half turn to a wooden door opening into:
Main Bedroom (4.3m x 3.0m plus window recess)
PARKING:
There is no specific parking provision with the lease. There is a ‘pay and display’ public car park within 75 yards and free short term street parking immediately outside the premises and the other properties forming part of the terrace.
LEASE TERMS:
The premises are held under a 20 year lease from July 2008 on full repairing and insuring terms. Rent of £9,500 is payable currently, being subject to review every 5 years, the next review due in July 2013. The 3 bed flat is self-contained and in our opinion could be let separately from the café for a rent in the region of £600 per month in this area.
North Yorkshire
£ 750,000
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