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Cafe Business Low Cost Base Rent £2,500 Pa For Sale

Torrington, Devon
Asking Price:
£35,000 Furniture / Fixtures included
Sales Revenue:
£50K - £100K
Cash Flow:
Available on request

* Cafe premises offering 39 covers inside and 12 covers within covered Pannier Market
* Well positioned for take-away / lunchtime trade, adjacent to High Street and car parking
* Trading daytime only 8.15am - 3pm, 6 days per week
* Currently operated by owner plus 1-2 staff, but ideally suited to a partnership with little / no staffing requirements
* Currently receiving full business rates relief

Location
The rural town of Great Torrington is an important local service and employment centre, with a range of independent and national business, and a strong local community and arts scene. Its resident population numbers over 6,000 when nearby villages are included, and plans are in place for over 600 new homes, plus infrastructure and development for the local economy. Though surrounded by beautiful countryside, North Devon’s beaches are just 10 miles away, and the area’s commercial centre of Barnstaple is just 14 miles away. The notable towns of Bideford (9 miles), and Hatherleigh (11 miles) are also nearby, and easily reachable by car and public transport.

The situation
The premises forms part of the historic Pannier Market which is located on the Town's High Street and provides direct covered access to the Castle Street Car Park. There are a wide variety of other operators within the Pannier Market making it a well known destination for locals as well as a popular location for visitors to browse.

The property and construction
Part of the premises is within the parade of Pannier Market shops and offers a single frontage, adjoining this is the main seating area which is accessed by double doors from the main Market Hall. The cafe premises offers covers for 39 and counter servery for take-away orders as well as further covered seating for an additional 12.

The proposal
Our clients are inviting offers for the Leasehold interest. We understand the Landlords (Torridge District Council) will offer a new 3 year lease upon completion at a rent of £2,500 per annum.

The business
Our client has operated the business for the past 10 years and offers a manageable menu of hot and cold drinks, snacks, cakes, light lunches, breakfasts, sandwiches etc. During this time the business has generally been operated by our client (4 days per week) plus a family member and an additional member of staff. It is thought new owners, particularly a partnership, may be able to operate the business with little / no staffing requirements if desired, thus reducing the overheads further. Turnover for yearends 2019 and 2020 have both been just under £75,000 with low cost base operational costs including rent of £2,500 per annum and currently zero rates. Operating hours are 8.15am - 3pm, 6 days per week.

The stock
Any current stock to be purchased at valuation upon completion.

The inventory
The property is sold with an inventory of trade fixtures, fittings and equipment.

Vat
payable, if applicable, at the prevailing rate.

Energy performance certificate
please contact the agents for a copy of the energy performance certificate and recommendation report.

The accommodation (comprises)

cafe
single fronted cafe unit, counter servery, tiled floor, 3 under counter fridges, 3 under counter freezers, jacket potato oven, double and single deep fat fryer, 3 x microwaves, extraction hood, l'anna double coffee machine, panini press, coffee grinder, till, hot water heater, stainless steel wash hand basin, stainless steel single drainer sink, worktops, cctv monitor

seating area
double doors from market hall, table and chair seating for 39 covers, non slip flooring. Further seating for 12 within covered pannier market area.

Commercial funding

having been in the trade for many years we have established good connections in the finance sector. Our association with these banks and commercial brokers mean that we are able to offer you introductions to competitive finance packages, for a new purchase or refinance purposes alike. Whether it is initial advice on your likely purchase level or if you are at the point of making an offer, you will often be able to achieve preferential rates, possibly saving you thousands of pounds. Please call for more information.


Important notice
jd commercial for themselves, and for the vendors of this property whose agents they are, give notice that:
1. The particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers should seek their own professional advice.
2. All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
3. No person in the employment of jd commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of jd commercial, nor into any contract on behalf of the vendors.
4. No responsibility can be accepted for any expenses incurred by any intending purchaser in inspecting properties which have been sold, let or withdrawn.

Property misdescriptions act 1993
1. All measurements are approximate.
2. While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact jd commercial and we will be pleased to check the information for you, particularly if contemplating travelling some distance to view the property.
3. We do our utmost to comply with this act in full. However we are also trying to represent our clients’ properties in their high possible light, as such we may use summer photographs to promote some properties.

Viewing
by strict appointment through the selling agents, jd commercial, 42 ridgeway drive, bideford, north devon. Ex39 1tw

Property Information

Property:

Leasehold

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