Cafes for sale in Exeter

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Vibrant & Well Presented Character Licensed Cafe Bar/Coffee Shop

Exeter, Devon, England

  • Leasehold Price: £39,950
  • Annual Turnover: £108,483
Seller Reference: 2103
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Business Description
 
 
 
 
 
 
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Seller Reference: 2103
Request Details
Business Description
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 day time only basis and is a popular meeting place for creative and artistic groups and societies. The sale of The Glorious Art House offers undoubted potential for incoming operators to buld 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, Attic Room on the third floor, currently sublet to a popular barber.

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 Mexican inspired décor, stripped wood flooring, wall mounted menu boards, feature lighting, range of freestanding wooden tables, chairs, bench, sofa and armchairs comfortably seating 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 free standing wooden tables and chairs comfortably seating 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. Currently sublet to The Den Barber for £200 per calendar month.

BASEMENT - Storage space

Please note: The fittings, equipment and services listed have not been tested by the agents, although we are informed that all items are in working order.

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 which makes 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 day time licensed cafe bar and coffee shop, with occasional evening opening for specific organised events.
The cafe offers a simple and easy to prepare menu from freshly baked pastries and waffles, croissants and bread for breakfast through to light lunches, salads, sandwiches, soup and bagels at lunchtimes all accompanied with a selection of quality hot and cold non-alcoholic and alcoholic beverages. The Den Barber on the 3rd floor is operated as an independent business on a sub lease, paying a rent of £200 per calendar month. 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 business benefits from a 5 star Food Hygiene Rating. 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
Accounts for the year ending 31st October 2018 show sales of £108,483 net of VAT, however due to family ill health, trade levels have been deliberately restricted, and our client has taken a step back from the day to day running of the business. Prior to this, 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 4.00pm on Mondays, Wednesdays, Thursdays and Fridays; 9.00am until 5.00pm on Saturdays and 10.00am until 4.00pm on Sundays. The business is closed on Tuesdays.

CURRENT STAFFING
The business is run entirely by staff, with no involvement from our client, on a day to day basis with 2 full time and 3 part time members of staff being employed.

POTENTIAL
The sale of The Glorious Art House represents a perfect opportunity to purchase an easy to run predominately day time 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
£39,950 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.

VIEWINGS
Strictly by appointment with the vendors Sole Selling Agents.Tel: .Email:
You are recommended to contact us before visiting the property even for an informal viewing. We can then confirm whether or not it is still available.

FINANCE
An early discussion about finance can often save time and disappointment. If you would like independent specialist advice on funding this property or any other purchase, we recommend you contact us for a list of our approved brokers.
Tenure:
Leasehold
Location Details:
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.
Leasehold Term:
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.
Listed by:
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