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Fashionable Thirty Four Seater Cafe For Sale

Barnstaple, Devon
Asking Price:
£29,000
Sales Revenue:
£50K - £100K
Cash Flow:
Available on request

*Ingoing Premium of: £29,000 (was originally £39,950) sale only due to ill health*

The premises comprise of a ground floor leasehold lock-up 34 cover cafe bar which was established approximately in 2005.

The main cafe has a split level floor area and is nicely decorated and presented with suspended ceilings and matching furnishings throughout.

To the rear there is an internal lobby, storage cupboard and customer cloakroom on the right and, on the left, access to a small well equipped commercial kitchen.

Our clients have owned the business for around five years and operate the business as a single proprietor with numerous members of staff with the main cafe bar opening six days a week 8:30am - 4:00pm (closed Sunday by choice).

The premises have an excellent menu with a good range of all-day breakfasts (which are very popular), sandwiches, paninis, wraps, jacket potatoes, traditional ploughman's, teas and coffees.
In addition to the main business it is also a takeaway business which provides additional income.

We must stress that the business is for sale for genuine reasons and that the opening hours could easily be extended with evening opening as well as exploiting the Sunday lunchtime trade.

The turnover is approximately £70,000 with a gross profit of approximately £50,000.
Accounts will be made available to those seriously interested parties who have inspected the premises.

Property information

Property:

Leasehold

Lease Terms:

Ingoing Premium of: £29,000
We understand the premises are held on a 20 year commercial lease until 14th December 2030 at a current rent payable of £435pcm.

An incoming purchaser will need to provide the usual bank and trade references for Landlord's approval.

Leasehold Rent:

£5,220 per annum

Location:

In a busy trading position, close to the junction of Boutport Street and Bear Street, the property is conveniently placed for commercial trade.
Nearby retailers include offices, a barber shop, opticians, estate agents and the property is within level walking distance of the Queens Theatre and all High Street amenities.
Barnstaple is quite rightly recognised as the commercial centre of North Devon, having a population in excess of 40,000 inhabitants and serving the surrounding rural hinterland with a population in excess of 127,000 inhabitants.

The town is rapidly expanding with several new housing developments on the outskirts so the demand will subsequently increase and the business benefits from a seasonal uplift in trade from tourists.

Energy Performance Rating:
C

Contact Information

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