Restaurant for sale

60 High Street, Budleigh Salterton, Devon, EX9

Leasehold £145,000

Property Description

Commercial information

  • Business for sale

Key features

  • High Quality Upmarket Licensed Cafe & Coffee Shop
  • Prime & Prominent Trading Position
  • Sought After East Devon Coastal Town
  • Main Cafe/Restaurant Seating 46+ Customers
  • Impressive Levels of Trade & Profits

Full description

Tenure: Leasehold

THE PROPERTY Earls Coffee House is a thriving and extremely well regarded licenced cafe and coffee house trading on a predominantly daytime only basis and until 8:00pm on three evenings per week. The business offers potential for incoming operators to purchase an attractive and highly sought after business with an excellent and growing reputation with both locals and visitors alike. These ground floor lockup premises have been purposely fitted and equipped to a high specification throughout and are consequently presented to an extremely high standard and incorporate high quality fixtures and fittings that give a modern contemporary feel. The attractive light and airy premises briefly comprise:- Main Cafe Seating Area comfortably seating 46 customers (with space for more if required); substantial Customer Servery; fully equipped Commercial Catering Kitchen and Customer Welfare Facilities. Earls Coffee House also offers potential for incoming operators to develop their own style of trade to suit their own personal requirements and to take advantage of this impressisve business in a prominent landmark trading position within a busy town centre and close to the seafront. The sale of Earls Coffee House represents a unique opportunity to purchase a well established and extremely well regarded business with excellent levels of trade, impressive profits and genuine potential to increase all aspects of the trade still further.

SITUATION Earls Coffee House occupies a lucrative and prime trading position with a visible corner frontage on the main High Street within the centre of the much sought after and highly regarded popular coastal resort town of Budleigh Salterton. Budleigh Salterton is an extremely affluent town situated on the East Devon Jurassic Coast in an area officially designated as a World Heritage Site by UNESCO. With a resident population in excess of 5,000, which is boosted considerably by visitors to the town throughout the year, particularly during the busy summer months, Budleigh Salterton also draws trade from the many nearby coastal and
country villages, hamlets and towns. The business occupies a prominent trading position a short walk from the seafront within the town centre of this delightful and popular coastal resort town which is situated in an area much renowned for its picturesque countryside, coves and beaches. The town is situated around 12 miles from the Cathedral City of Exeter with its easy access to the M5 motorway, intercity rail links and international airport. Budleigh Salterton is a particularly unspoilt traditional coastal resort town.

INTERNAL DETAILS With large windows to two sides and a corner entrance door leading into Entrance Lobby with part glazed door into Main Cafe Area. An extremely attractive and contemporary high specification light and airy trading space with high ceilings, part solid wood and part feature steel flooring, bespoke light fittings, feature exposed brick fireplace with inset woodburning stove, solid oak display dresser unit, large built in dry goods storage area, music system, range of quality free standing hand made solid wood tables, wooden chairs, benches, comfy sofa and armchairs comfortably seating 46 plus customers with room for more if desired. Granite topped Return Customer Servery and serve over counter with EPOS touch screen cash register, range of base storage cupboards, granite worksurface, wall shelving displays, wall mounted menu boards, filter coffee machine, Lincat hot water boiler, Marisa coffee machine, coffee grinder, stainless steel hand basin, double glass fronted under counter bottle fridge, single glass fronted under counter bottle fridge. Customer WC. Commercial Catering Kitchen with Altro non-slip flooring and wipe clean clad fully lined walls, again fitted to a high specification with recently installed airconditioning unit and fitted with a range of quality commercial catering equipment to include:- Lincat convection double hob, Blue Seal Turbo fan oven, upright Foster commercial fridge, under counter freezer, commercial microwave oven, stainless steel wall shelving, stainless steel workbenches with shelving below, commercial toaster, stainless steel hand basin, twin deep bowl stainless steel sink unit and commercial dishwasher. Store Room with non-slip Altro flooring, upright Foster commercial freezer, racked storage shelving units. 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 business is a bin store area together with a Further Store Room.

THE BUSINESS Earls Coffee House is a high quality well regarded licensed cafe and coffee shop with a modern contempory feel in a sought after trading location. Presented to exceptionally high standards throughout, the business has been purposely fitted and equipped with almost no expense spared, to create a high specification finish. Consequently the business boasts excellent levels of regular trade and benefits from a lucrative and prominent trading position in the town centre, adjacent to numerous complementory businesses and residential properties, and close to the main seafront. Through personal choice, our client, a single working proprietor, deliberately restricts the opening hours of the business to suit his own requirements. Earls Coffee House offers a high quality easy to prepare menu using the finest local produce available which changes on a regular basis taking account of seasons and produce availability. The popular menu ranges from bowls of porridge for breakfast to scrambled eggs on toast with bacon or smoked salmon, range of coffees, selection of teas, hot chocolates, soft drinks, wines, beers and ciders, smoothies and milk shakes. Lunches, with the emphasis on quality, freshly prepared simple dishes using the best possible locally sourced produce, afternoon teas with a selection of home made cakes and traybakes and an early evening menu to include home made pizzas and extremely popular sharing platters. Our client sources all produce locally wherever possible with allergies and intolerances being catered for. All food is freshly prepared and cooked to order and this attention
to detail ensures that the business enjoys excellent levels of year round regular trade and an excellent local following, not only from Budleigh Salterton but also the surrounding towns and villages, together with a seasonal boost during the peak summer months. The business benefits from a 5 Star Food Hygiene rating. Earls Coffee House does not currently have a website although it does have a presence on Facebook, Twitter and Instagram and there is a customer loyalty scheme in place. Wi-fi is also offered to customers and a viewing appointment is essential in order to fully appreciate the extremely high standards inherent throughout all aspects of this business.

TRADING INFORMATION Accounts for the year ending 31 July 2017 show sales of 191,011 excluding VAT with a gross profit of 130,399 (68.27%) and a high net profit being achieved by our client, a single working proprietor. It should be emphasised that our client is a single working proprietor and undoubtedly there are savings to be made to the wage bill for a working couple. Additionally, our client obtained a licence to sell alcohol and has extended the opening hours until 8:00pm on Thursdays, Fridays and Saturdays since May 2017 which has resulted in a significant boost to the turnover on these days. Full detailed trading information can be made available to interested parties following a formal viewing appointment.

OPENING HOURS The business operates from 8:30am until 5:30pm Sunday to Wednesday and from 8:30am until 8:00pm on Thursday, Friday and Saturday.

CURRENT STAFFING The business is run by our client, a single working proprietor, with the assistance of 3 full-time and up to 9 part-time members of staff. The current wage bill could be reduced considerably by a couple running the business together.

POTENTIAL Our client advises that there is potential to increase the current trade levels with an opportunity for furher advertising and marketing initiatives, including the development of a website. There is also an opportunity to extend the current opening hours, particularly by opening additional evenings and even opening later in the evenings and extending the current menu choices to develop a bistro style menu. There is also potential for incoming operators to develop their own style of cuisine and trade in a manner to suit their own personal requirements and take advantage of this exceptionally well presented business in a prominent trading location. Earls Coffee House would best suit a working couple and this business represents a unique opportunity to purchase a high quality lucrative business with an established and growing trade in a much sought after trading location. Our client is prepared to offer a full handover and training to interested parties should they so require it. The sale of Earls Coffee House represents a rare opportunity to acquire a high quality catering business which is furnished and presented to a high specification and new owners will benefit from being able to move in without the need for any major expenditure whatsoever. Coupled with this, the business enjoys excellent levels of regular year round trade and an early appointment to view is recommended in order to fully appreciate all that this high quality licensed catering business has to offer.

LICENCES The business benefits from a Premises Licence allowing the sale of alcohol from midday to 7:30pm seven days a week.

EPC Requested and awaited.

RATING For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website

SERVICES All main services, with the exception of mains gas, are connected to the subject property.

PRICE & TENURE 145,000 for the valuable leasehold interest as a going concern business and full trade inventory. Wet and dry stocks to be additional at valuation. Vacant possession upon completion.

The business is held on a 10 year internal repairing lease from July 2016. The current rent is 10,500 per annum with rent reviews every 3 years and a tenant only break clause after 5 years. Full details are available on request.

VIEWINGS Strictly by appointment with the vendors Sole Selling Agents.Tel: (01392) 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.

More information from this agent

Nearest stations

  • Exmouth (3.9 mi)
  • Lympstone Village (4.7 mi)
  • Lympstone Commando (5.4 mi)
Distances are straight line measurements from centre of postcode

Map & Street View

Nearest stations

  • Exmouth (3.9 mi)
  • Lympstone Village (4.7 mi)
  • Lympstone Commando (5.4 mi)
Distances are straight line measurements from centre of postcode

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