Restaurant for sale

The Old Thatch Tea Shop, 4 Church Road, Old Village, Shanklin, Isle of Wight, England, PO37 6NU

Guide Price £650,000

Property Description

Commercial information

  • Business for sale

Key features

  • Award winning tea shop
  • Grade II Listed 'lifestyle business'
  • c.56 covers with a further c.40 outside
  • Advised annual turnover of 74,609
  • 2 bedroom owners' accommodation
  • Mature rear garden, EPC Exempt

Full description

Tenure: Freehold

Description

This attractive Grade II Listed building currently houses a popular and highly successful tea shop. With its cottage style interior and original beams and features intact, it offers a unique opportunity to acquire a stand out property and business in the heart of Old Shanklin Village.

With a paved patio and mature, enclosed garden to the rear, visitors can enjoy a quiet spot a short walk away from the main esplanade.

The property has been completely refurbished including all electrics that have been replaced and updated.

Location

Located in the picture-postcard heart of Shanklin's Old Village, The Old Thatch Tea Shop is surrounded by independent shops and eateries and a short walk from the popular main esplanade, perfectly placed to attract visitors.

Located on the east coast of the Isle of Wight, Shanklin is one of the Island's main towns and can be easily accessed via ferries from Southampton, Portsmouth and Lymington.

Internal Details

Enter through double doors to the main trading area separated into three distinctive areas for c.56 covers, each boasting original features including exposed beams and open fireplaces.

Blue room c.12 covers, green room c.18 covers, pink room for c.26 covers with access to rear garden via French doors. Ladies and gentlemen's WCs, commercial kitchen and various ancillary storage areas.

Fixtures & Fittings

Trade fixtures and fittings are included within the sale and an inventory will be provided.

External Details

Access to the garden can be found through either the double doors from the back room or the kitchen.

A paved walkway and patio for c.40 covers are lined with mature trees and shrubs creating an enclosed space to the rear of the building.

Separate entrance to the garden by the side of the building with storage for bins and three hidden sheds in the garden used as storage for fridges, freezes and general storage.

Owner's Accommodation

The owners' accommodation is accessed from a staircase in the main building and comprises a large family bathroom with modern fittings, a reception room, utility room and two bedrooms.

The Opportunity

The new owners will be in the enviable position of taking on a successful seasonal trading lifestyle business situated in the charming Old Village of Shanklin.

The owners are selling due to retirement and currently only open six months of the year, representing significant scope to trade throughout the year and into the evenings.

Staff

Staff are currently retained on zero hour contracts due to seasonal trading hours.

Trading Information

Net turnover of £74,609 for year end 29 February 2016 with an adjusted net profit of c. £16,245.

Business Rates

The Rateable Value is £14,500 for the year commencing 1 April 2017.

Regulatory

Premises Licence.


Nearest stations

  • Shanklin (0.6 mi)
  • Lake (1.6 mi)
  • Sandown (2.8 mi)
Distances are straight line measurements from centre of postcode

Floorplans

Map & Street View

Nearest stations

  • Shanklin (0.6 mi)
  • Lake (1.6 mi)
  • Sandown (2.8 mi)
Distances are straight line measurements from centre of postcode

Disclaimer - Property reference 3867912-fh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co , Winchester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

* This is the maximum possible speed. Broadband speed may be lower at peak times and can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. The information is provided and maintained by comparethemarket.com

Map data OpenStreetMap contributors.