Cafes for sale in Lancaster

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Licensed Cafe Bar & Bistro in Lancaster

Lancaster, Lancashire, England

  • Leasehold Price: £67,995  Price Reduced arrow_drop_down
  • Annual Turnover: £122,064
  • Annual Gross Profit: £83,400
Seller Reference: 6303
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Business Description
 
 
 
 
 
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Seller Reference: 6303
Request Details
Business Description
Iconic, Fully Licensed, Cafe Bistro
Stunning trading location
Long established and highly reputed
Award Winning
Fully refurbished by current owners
Annual Turnover £122,064
Gross Profit £83,400
Viewing essential to fully appreciate
Turnkey business with massive scope to develop further
Genuine reason for sale
EPC - D
REF 6303 – Leasehold Licensed Cafe Bar & Bistro

Blacks Brokers are pleased to bring to the market this leasehold licensed café bar and bistro located in the beautiful and much sought-after area of Glasson Dock, Lancaster.

INTRODUCTION

The Lantern O’er Lune has been operating on Tithebarn Hill for over 40 years, with our client in ownership since 2015. The business is extremely well known with a superb reputation and not just locally; such is its popularity it regularly welcomes families, walkers and walking groups, cyclists and cyclist clubs, motorcyclists and motorcycling groups and car clubs with customers travelling from many surrounding areas as far away as Manchester, Chester and Yorkshire.
Our client has established a large online and social media following and the business has excellent reviews on Google, Trip Advisor and Facebook. Among the many accolades The Lantern O’er Lune has received, in 2018 alone it was voted the No1 Bistro in Lancashire by Lancashire Evening Post readers and was finalist for Cafe & Tearooms in the Lancashire Life Good Food Awards.

LOCATION

This business occupies a most impressive, prominent trading position sitting adjacent to the marina and harbour at Glasson Dock. This stunning location is within a conservation area and is set on a heritage site. The area is well-populated but also brings year-round visitors and is well linked by M6 motorway, making it easily accessible. There are excellent, off road parking facilities and public transport links are good.

REASON FOR SALE

Due to a serious health issue, our client has been forced to face early retirement and reluctantly offers the business for sale; this presents an excellent opportunity for a new owner to take the business to the next level. The bistro has operated very successfully over 5 days, with a waiting list for evening tables, but is now pared back to run at a pace which suits our clients circumstances. With the drive and ambition of a new owner this bistro definitely has the potential to operate 6 or 7 days and nights a week as its reputation is already firmly established.

LEASE

The building is available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is seven years with rent reviews every three. The current lease began in 2015 at a cost of £161 per week. We are advised that the landlord is open to a new lease negotiation with a new business owner.

BUILDING LAYOUT AND DESIGN

The business is positioned within a large detached corner property, in a prominent trading location with multi fronted windows. To the front there is a spacious and well presented terrace with seating for 38 and the business is well branded with clear signage displayed. Inside, the main entrance leads directly into the bistro, which offers seating for a further 38. The bistro is finished to a high standard with freestanding tables and chairs, wooden flooring throughout and modern decor and lighting. To the left hand side of the bistro there are customer toilets and a storage room. The servery area is furnished with a bespoke fitted serving counter, cupboards, drawers and shelving. Beyond this is a food preparation area, a wash up area – with pull through commercial dishwasher- and a fully equipped, stainless steel, commercial kitchen. There is also a dry store room, freezer room and vegetable preparation area with chipper and rumbler. Each area is presented and finished to exacting standards with an array of excellent quality fixtures and fittings in place.

FINANCIAL DETAILS

The Lantern O’er Lune has traded solidly during the last 40 years and has flourished since our client took ownership in 2015. The accounts for year ending April 2019 show annual turnover £122.064. with a gross profit of £83.400. It is to be stressed that the business is being run at a pace to suit our client’s current circumstances however there is huge scope and ongoing demand to introduce longer opening hours and days to increase this revenue. Full accounts available at viewing.

SUMMARY

This leasehold business occupies a most enviable trading position and has an incredible reputation and customer base. There is plenty of scope to develop the business further with the reintroduction of its highly sought after evenings and private functions, even outside catering. Viewing is essential to fully appreciate this business. Fixtures:
Full List Of Fixtures & Fittings Available - Please, Just Ask.
Trading hours:
Mon & Tue - Closed Wed - 10am - 3pm Thur - 10am - 3pm Fri - 10am - 3pm Sat - 10am - 3pm Sun - 10am - 3pm
Tenure:
Leasehold
Location Details:
Lancaster
Leasehold Term:
£161 Per Week
Listed by:
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