Tea Rooms for sale in Okehampton

View the "LICENSED TEA ROOM AND BAR – Okehampton" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

 We were absolutely overwhelmed by the response to our sales advertisement for our Bath Coffee Shop. 

Mike Watts and Wendy Race (September 2016)
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Leasehold Price: £99,950 Annual Turnover: £146,000
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Business Description
• GREAT LOCATION IN RED LION YARD RETAIL DEVELOPMENT
• STUNNING FUNCTION SUITE PLUS 2 OUTSIDE DINING AREAS
• RENT INCLUDES ATTRACTIVE SELF CONTAINED 2 BED FLAT
• SOLID TRADE WITH EXCELLENT GROWTH POTENTIAL
• MAIN TOURIST ACCESS TO DARTMOOR NATIONAL PARK
• FULL INTERNAL INSPECTION STRONGLY RECOMMENDED

LOCATION:
Okehampton has always been a prominent agricultural and light industrial centre and continues to be very popular with tourists visiting the Dartmoor National Park, for which it is the principal access point, but the town has developed strongly in the past few decades in view of the excellent A30 trunk road link to Exeter (25 minutes away) and to Cornwall which runs to the North of the town.

Red Lion Yard is a pedestrian shopping precinct in the heart of Okehampton. Constructed in the late 20th century on the site of a former public house of that name, it can be accessed from the High Street and is situated opposite the Waitrose and Cooperative supermarkets and the two main car parks.

BUSINESS:
This very popular licensed tea room and bar/function suite, which occupies a modern building in the shape of a dovecote, stands in a delightful trading position within the Red Lion Yard development.

The premises, offer 62 covers at ground floor level, together with a stunning function suite accommodating 46 covers comfortably seated on the first floor, which benefits from a separate entrance, and two separate outside licensed dining areas, one at street level and one at first floor level, each accommodating a further 30 covers.

The modest rent includes a most attractive interconnecting but self-contained, 2 bed flat which forms part of a secure development and includes permit parking for 2 vehicles.

The premises and accommodation have been comprehensively refurbished and re-equipped by the current owners who have invested heavily in the past two years.

The tea room has a strong local following. All food is, as far as possible, home-made and prepared on the premises. The traditional menu is founded upon hearty breakfasts, highly regarded fish and chips, a range of chicken dishes, burgers, vegetarian dishes, jacket potatoes, baguettes and sandwiches, each offered with a range of fillings. There is also an attractive range of puddings, desserts and cakes, high quality coffees and teas, bottled beers, lagers, ciders and wines as well as soft drinks. The Sunday carvery, served between 12 noon and 2pm is particularly popular with bookings essential.

The function suite must be one of the most attractive in the area with considerable room for income growth, booking levels being on the increase.

Opportunities such as this are rare and a full internal inspection is strongly recommended to be able to appreciate fully what is on offer.

YEARS ESTABLISHED:
The business has operated as a licensed café and restaurant since the opening of the Red Lion Yard development, i.e. more than 20 years.

TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £146,617 were reported for financial period ending on 30 September 2016 and an excellent gross profit margin in excess of 70% was indicated.

More detailed financial information will be made available to interested parties upon completion of a form of confidentiality agreement and following an exchange with Adams & Co regarding background, reason for interest, financial position and ability to proceed.

REASON FOR SALE:
The owners wish to move to Surrey.

STAFF:
The business is currently run with the full-time involvement of the two partners supported by a chef (Full time up to Oct 17. From Oct 17 this will drop to 20 hours pw), one front of house (32.5 hours pw in winter, 37.5 hours pw in summer), two part-time staff (11.5 hours pw and 8.5 hours pw respectively) and further staff on a flexible basis as required.

OPENING HOURS:
Tea Room:
Monday to Saturday: 9.00am to 5.00pm
Sunday: 10.00am to 3.00pm with marginally reduced hours in the winter season

Bar:
Friday and Saturday: 6.30pm to 11.00pm

The premises are fully licensed downstairs and upstairs, inside and outside from 8.00am to midnight throughout the week.

The current opening hours leave considerable room for expansion every day if desired by new owners seeking to grow the business.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The business occupies an end of terrace property arranged over two floors under a pitched and tiled roof, its overall shape being reminiscent of a dovecote, hence the chosen trading name. The commercial premises interconnect at first floor level with an otherwise entirely self-contained two bedroom flat, the principal access to which is gained via a secure pedestrian gate with intercom facility to a courtyard shared by other similar residential units and which offers an attractive outside seating area in which to relax.

The commercial premises are arranged to offer independent external access to each of the ground floor licensed tea room and the first floor bar/function room, the latter both internally via a hallway and staircase with WC facilities shared with the ground floor, and externally via a concrete staircase rising to a spacious patio enclosed by a wall on one side and railings to the other side overlooking one end of Red Lion Yard. This patio can accommodate up to 30 external covers in a most attractive location during the summer season.

There is also space at ground floor level immediately adjacent to the tea room to accommodate a further 30 external covers in Red Lion Yard.

A metal framed door and window combination with matching window to the right hand side offers direct access to:

Ground Floor Dining Room: Broadly semi-circular in shape with 2 small high level metal framed windows and a separate door to the external wall. Further door with obscure glazed panel leading to WC facilities and staircase to the Bar/Function Suite. Heater unit over the front entrance door. Dado rail. The whole of the ground floor has recently been comprehensively refurbished by the current owners. New laminate floor. 3 x attractive wall mirrors. Combination of rectangular and circular tables with chairs arranged to offer 62 covers. Additional 3 seater settee to one side. Recently replaced suspended ceiling with inset spotlights. Further ambient wall lighting. L-shaped counter servery with work surface to rear accommodating Expobar Elegance coffee machine, Fracino coffee grinder and Lincat water boiler (the latter on lease). Triple width bottle chiller. EPOS built-in till. Wall mounted blackboard. New and expensive carvery unit. CCTV system covering both patios, the hallway and the dining room. Wooden door to:

Commercial Kitchen: A very well organized, fully fitted commercial kitchen facility of irregular shape with non-slip floor covering and part tiled wall surfaces. The flat roof over was entirely replaced in 2017 (25 year guarantee understood to be in place) and 2 new skylights were fitted at the same time. The kitchen accommodates a comprehensive range of equipment including a new, stainless steel double width food wash sink with spray attachment over, an Apollo large double width refrigerator, a double plate panini maker, 4 slot toaster, 2 x microwave ovens, a soup kettle, double deep fat fryer, 6 burner hob and double width gas oven, 60cm square hotplate and eye level gas grill, the last 4 being under a 4-panel stainless steel hood and extraction system. Caterwash commercial dishwasher (on lease). To one side there is an Infrico twin counter top salad bar, stainless steel double food wash only sink unit with open storage under. Throughout the kitchen there are plenty of stainless steel work surfaces. Double doors open to the rear of the premises for access to 3 useful external storage cupboards and separate secure store for 3 x 47 kilo Flogas bottles. In the kitchen but currently unused is a dumb waiter link to the first floor bar/function suite.

NB This business has a category 5 food hygiene status and has achieved zero to landfill in terms of waste management.

An open doorway from the kitchen leads to a dry storage area which also accommodates a chest freezer, the meters and fuseboxes. Tiled floor. Wall mounted hand wash basin with mains feed. Loft access hatch.

A separate entrance door to the left hand side of the tea room entrance gives access to a separate entrance hall with a staircase rising to the bar/function suite. A door to one side interconnects with the dining room. The doorway is currently used to accommodate an ice cream freezer (on free loan from Yarde Farm). There is a ladies’ WC facility at ground floor level and a gents’ WC facility accessed from a half landing, the WC’s thereby shared between the ground and first floor premises. The staircase rises with a 180 degree turn to the first floor landing. Here a spacious secure cupboard has been constructed to accommodate the bar equipment, pumps, barrels etc. recently refitted by Carlsberg. A wooden door with obscure glazed panel opens to:

Bar/Function Suite: A stunning facility, semi-circular in shape with central wooden dance floor surrounded by carpeted areas. Superb ambient inset lighting facility over the dance floor. Overhead air conditioning/heating unit. To the external walls there is a metal framed obscure glazed door to an external patio (fully licensed) overlooking Red Lion Yard, 7 x tall and narrow glazed panels with fitted blinds and 3 x wider windows also with blinds. To one side there is a soft seating area with 2 x leather settees and a low table. Offering 46 dining covers from a combination of rectangular and square wooden tables with chairs, higher tables with bar stools and 3 x fitted soft seating units adjacent to the walls. Substantial curved wooden bar facility with 2 bar stools with fully fitted furniture to the rear wall with bottle chillers under, wooden surfaces, feature glass shelving with back lighting. EPOS till. 2 x inset stainless steel wash basins. Chest freezer. CCTV cameras. Intercom link with ground floor kitchen. Lockable wooden door to:

Inner Hall: Irregular shape. Vinyl floor covering. Dumb waiter link to commercial kitchen at ground floor level. Space for dry storage. Lockable fire door interconnecting with the kitchen in the otherwise self-contained 2 bed flat (see below). Power connected. Space for tumble dryer.

Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)
The flat has been subject to a comprehensive refurbishment quite recently which has seen the installation of new UPVC double glazed tilt and swing windows throughout the accommodation together with a matching front door as well as a new bathroom suite including full tiling.

The front door opens into an L-shaped Hallway with inset spotlighting and vinyl floor covering. Loft access hatch (we understand this is partly boarded and offers considerable storage space). Wooden doors lead to all rooms as follows:

NB For the purposes of this description the front elevation is that containing the front door.

Lounge: A spacious room enjoying a twin aspect with large upvc double glazed window to the rear elevation and standard sized window to the front elevation. Two feature light fittings. Recently redecorated. Carpeted.

Bedroom 2: A double bedroom with upvc double glazed window to the rear elevation. Inset spotlighting. Carpeted. Wooden door to airing cupboard accommodating immersion heater and water pump.

Bathroom: Recently refitted. Upvc obscure double glazed window to the front elevation. Vinyl floor covering. Inset spotlighting. Fully tiled walls. Large bath. Wash basin in attractive vanity unit. Fitted wall cabinet. Low flush, close coupled, WC. Extractor fan.

Bedroom 1: A most attractive double bedroom of slightly irregular shape (currently accommodating a king size bed). Upvc double glazed window to the front elevation. Inset spotlighting. Carpeted. Extra deep fitted wardrobe cupboard to one wall offering considerable storage. Sky TV link.

Kitchen: Two steps down from the Hallway. Overhead spotlight fitting. Vinyl floor covering. Upvc double glazed window to the rear elevation. Range of recently refitted matching white fitted floor and wall cupboard units, including a larder cupboard to one side with solid wood roll edged work surfaces. Breakfast bar with inset induction hob with fitted electric oven and grill under. Considerable space for appliances, the kitchen currently accommodating a dishwasher, washing machine and a double width American style fridge freezer.

A recently fitted lockable fire door interconnects with the commercial premises as described above.

OUTSIDE:
The lease includes two parking permits for the car park serving the development, of which one relates to the flat.

LEASE TERMS:
The premises are held under a renewable 25 year lease from 2015 drawn on internal repairing and insuring terms.

Rent, which includes the interconnecting but self-contained 2 bed flat, is £20,000 per annum, being subject to review every five years, the next review due September 2020. It is relevant to indicate that the landlord has chosen not to seek an increase in the rent in recent years.

The tenants are responsible for an annual buildings insurance premium (believed to be of the order of £800 recently).

A quarterly service charge is payable towards the maintenance of the Red Lion Yard development. We are advised that this has tended to be c £600 per quarter.

ENERGY PERFORMANCE RATING:
Business:
Energy Performance Certificate No: 9651 3002 0002 0000 5525
Energy Performance Asset Rating 127 Category F
Flat:
Energy Performance Certificate No: 2858 9014 6252 7730 3904
Energy Performance Asset Rating 39 Category E*

*Since production of this certificate the flat has been improved through the installation of UPVC double glazing throughout.
Tenure: Leasehold

Listed by: Adams & Co
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