Cafe for sale

Barnstaple, Devon

£84,500

Property Description

Commercial information

  • Business for sale

Key features

  • Valuable busy town centre trading position
  • Spacious 2 storey premises with alfresco seating
  • 38 cover dining area, kitchen, wash up room, storage
  • Sales 203,364 ex Vat, Gross Profit 144,197 (71%)
  • Daytime trading, 6 day week, Net Profits c60,000
  • Thriving highly regarded business which continues to grow
  • Serving popular, easily prepared menu
  • Regular all year round trade plus seasonal boost
  • Owners private car parking to rear
  • EM&F reference number: TR33713N

Full description

Tenure: Leasehold

Description: A thriving highly regarded and rated busy daytime coffee shop/cafe serving an easily prepared menu, the business continues to grow and proves most profitable. Operating from spacious premises extending over 2 floors with the added benefit of an alfresco seating area to the front both proving lucrative and owners private car parking to the rear. The premises provide attractive 38 cover dining area complete with substantial service counter, kitchen, wash up room, abundance of storage and cloakroom facilities. Under current ownership considerable investment has been made in the premises in the form of new equipment, the majority of which is less than 3 years old, to include state of the art coffee machine acquired at substantial cost. The business commands an excellent reputation for its quality of menu lines and service provided ensuring a great deal of regular all year round repeat trade boosted by visitors to the town.

Location: Enjoying an attractive yet lucrative trading position, situated on a pedestrianised shopping thoroughfare leading to a nearby car park. The shopping thoroughfare is popular with independent retailers, at the time of our inspection surrounding businesses included a hair salon, beauty salon, vintage shop, and camera retail outlet with Specsavers opticians and Cancer Research close by. Gammon Walk leads off the main shopping High Street where the entrance to Greenlanes Shopping centre is located and numerous national retailers can be found to include White Stuff, Body Shop, Waterstones, Next and Superdrug together with the High Street banks. Barnstaple is the North Devon regional capital, supporting a resident population in excess of 21,000, also drawing trade from nearby smaller towns, villages and coastal resorts, enjoying a seasonal uplift from holiday makers and day trippers during the summer months with popular tourist destinations, attractions and beaches only a short drive.

Premises: The subject of substantial investment by the current owners, the majority of equipment being less than 3 years old, benefiting from CCTV and Wi-Fi. Wooden framed glazed single frontage, wooden framed glazed entrance door opening to DINING AREA, wood effect vinyl flooring, blackboard wall menu, inset ceiling spot lighting, additional feature pendent lighting with exposed filament bulbs. Provides approximately 38 covers through traditional freestanding tables and chairs, sofa seating, bar stool seating and cushioned barrel chairs. Substantial wooden fronted side SERVICE COUNTER, cake display on top along with IPad style till with cash drawer and wireless feed to order printer in the kitchen. Also houses coffee grinder in respect of retail coffee bean sales, 2 smoothie blenders, juice press, under counter fridge, under counter freezer and storage. Rear counter with state of the art Conti coffee machine, hot water boiler, stainless steel sink/draining unit, under counter fridge, and under counter glazed front bottle chiller. Wall storage shelving above, useful walk in under stairs storage cupboard. To the rear, LOBBY with WASH ROOM leading off, vinyl flooring, fitted with stainless steel sink/draining unit, containing dishwasher, stainless steel tables and storage racking. Stairs from the lobby rise to FIRST FLOOR and CLOAKROOM, tiled floor, part tiled walls, fitted with toilet, hand washbasin, hand dryer and extractor. Also on the first floor, main STORAGE ROOM, provides abundance of storage racking, contains 2 chest freezers, sliding top chest freezer, 2 new commercial upright fridges, under counter fridge and convection oven. Leading off is the KITCHEN, benefiting from air conditioning, comprehensively equipped, amongst the inventory, work tables, 4 ring cooker, large Panini press, twin Panini press, 4 under counter commercial fridges, refrigerated salad bar, ham slicer, 2 microwave ovens, induction hob, order printer. Fitted with 2 stainless steel sink/draining units, dishwasher and wall storage shelving.

(None of the above appliances/systems have been tested and a purchaser must satisfy themselves as to the serviceability of these.)

Outside: To the front of the property, a pavement licence is held enabling placing of tables and chairs providing 10 ALFRESCO COVERS benefiting from being part covered. To the rear of the property, back door opens to covered area where an outside STORE is located, additionally owners benefit from 2 CAR PARKING spaces.

Business: Acquired by the vendors in 2014, the business has proved a considerable success, commanding an excellent reputation, receiving excellent reviews, now offered for sale in order to pursue other interests/opportunities. Serving a popular easily prepared menu of breakfast, sandwiches, toasties, salads, cakes, teas, coffees, smoothies, shakes and other soft drinks, predominantly to eat in, there being a small amount of takeaway trade. The business prides itself on its quality of menu lines coupled with service provided, this ensures a great deal of regular all year round trade from the local/surrounding residential community and those working in the town with a summer boost from visitors to the town.

Trading Hours: Trades Tuesday to Saturday 9.00am - 5.00pm with the kitchen closing at the slightly earlier time of 3.30pm. New owners can open additional days, previously the current owners opened on a Monday but now only operate a 5 day week to suit their lifestyle.

Staff: Operated as a partnership by a husband and wife team, assisted by 2 full time members of staff, 1 part time member of staff and Saturday staff.

Takings: Accounting information confirms a strong profitable business. In respect of the financial year ended 31st March 2018 Sales amounted to £217,252 ex Vat returning a Gross Profit of £153,557 equating to an excellent 70%. In respect of the financial year ended 31st March 2019, following the reduction to a 5 day trading week as from September 2018, sales are forecast in the region of £180,000 ex Vat.

Comments: The sale of Driftwood Coffee Shop provides an opportunity to acquire a thriving popular daytime catering outlet proving most profitable. New owners will benefit from spacious premises enjoying a lucrative town centre trading position at what is considered a favourable rent. The recent investment made by the current owners in new equipment will avoid the need for any major expenditure by new owners enabling them to simply concentrate their efforts on building on the current successful levels of trade.

Tenure: Held on the residue of a recently renewed 10 year Lease which commenced in July 2017, current rent £14,800 per annum, subject to 5 yearly rent reviews.

Rates: Approximately £8,600 per annum payable.

Price: £84,500 for the benefit of the Lease, Goodwill, Fixtures, Fittings & Equipment (according to inventory) plus stock at valuation, optional premises if required.



More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Barnstaple (0.5 mi)
  • Chapleton (4.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

EM&F , Devon

3 Cornhill, Ottery St. Mary, EX11 1DW

01404 606038 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Barnstaple (0.5 mi)
  • Chapleton (4.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

EM&F , Devon

3 Cornhill, Ottery St. Mary, EX11 1DW

01404 606038 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference TR33713N. 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 EM&F , Devon. 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.

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