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Fore Street, Looe, Cornwall, PL13

Leasehold
£135,000

Business rates & charges may apply

STONESMITH, Exeter
SECTOR

Cafe for sale

USE CLASS
Use class orders: A3 Restaurants and Cafes

A3

Key features

  • Attractive and Profitable Licensed Cafe & Bistro, In A Lucrative Position
  • Trading Up To 7 Months Of The Year, Predominantly Daytimes Only
  • Evening Opening For Just Six Weeks In The Summer Holidays
  • Well Presented with 36 Seats Inside and 48 Seats Outside
  • Much Sought After Cornish Coastal Town Location
  • Impressive Trade Levels, Exceptionally Strong Profits, Low Overheads

Property description

THE PROPERTY
The Courtyard is a well-regarded licensed café and bistro which is presented to an extremely high standard throughout. Currently trading up to 7 months of the year, April to October, and only opening during the evenings for six weeks during the school summer holidays, there is a wealth of potential for year-round opening, as well as increasing the opening hours to incorporate regular evening opening, if so desired. The sale of The Courtyard offers undoubted potential for incoming operators to build on the existing impressive levels of trade and strong profits and develop the style of trade to suit their own requirements and to take advantage of this highly desirable catering business with an established trade and reputation in a highly sought-after Cornish coastal town. The premises briefly comprise: - Main Café Area comfortably seating 36 customers; Attractive Courtyard Seating Area providing al fresco seating for up to 48 customers; fully equipped Commercial Catering Kitchen with various ancillary and welfare facilities.

SITUATION
The Courtyard is situated in the heart of East Looe, an attractive riverside town on Cornwall's south coast, which is considered to be one of the county's most picturesque coastal communities. The business is well located with entrances and highly visible signage on Fore Street, the main thoroughfare within the town as well as the Quay to the rear. With a resident population of approximately 5,000 which is boosted considerably by visitors to the town throughout the year, Looe is situated within approximately 20 minutes drive of the A30 trunk road, which brings this picturesque corner of Cornwall within easy reach of Plymouth and the M5 motorway network beyond. Looe must be one of the most photographed harboursides in the Westcountry and an active fishing industry still operates from the harbour, off which there is a maze of main streets with excellent shopping facilities leading to East Looe's fine sandy beach. The sale of The Courtyard represents a unique opportunity to purchase a most profitable and well-regarded business in an exceptional trading position with excellent levels of trade and with potential to increase all aspects of the trade still further.

INTERNAL DETAILS
Ground Floor - Gated and well signed entrance passageway leading directly from both Fore Street and The Quay into the enclosed private courtyard garden and al fresco seating area. Main entrance door to the front leading into ground floor Dining Area. An attractive character dining area, tastefully furnished with exposed painted ceiling timbers, ceiling hung menu boards, quarry tiled flooring, feature wall lighted, and a range of freestanding wooden tables and chairs comfortably seating 36 customers. Customer Servery Area with quarry tiled flooring, double glass fronted bottle fridge, commercial coffee machine, coffee grinder, EPOS touch screen cash register system, glass fronted upfront wine fridge, painted ceiling timbers, undercounter storage shelving, extensive wall shelving, Waitress Station Servery Area with undercounter fridge, Lincat hot water boiler, hand basin, range of storage cupboards, wine racking and CCTV system. Bottle Store. Customer WC. Commercial Kitchen with quarry tiled flooring and fully clad walls and ceiling, fitted with a comprehensive range of commercial catering equipment to include: Extractor system with canopy over, solid top commercial range, extensive range of stainless steel workbenches with shelving below, 2 twin table top deep fat fryers, eye level grill, stainless steel warming cabinet, stainless steel racked shelving, commercial dishwasher, stainless steel wall shelving, twin deep bowl stainless steel sink unit, stainless steel hand basin, commercial microwave oven, 3 door commercial undercounter fridge, double commercial upright fridge and a heated serving gantry. Door to outside. Dry Goods Store/Freezer Store/Garage with chest freezer, 2 upright fridges, storage shelving and with double doors to The Quay.

EXTERNAL DETAILS
A real feature of this business is the attractive Enclosed Courtyard Seating Area. The attractive patio style trade garden is planted with a range of flowers and shrubs and offers al fresco seating and dining for 48 customers with a range of outside furniture and parasols. The courtyard benefits from pedestrian access from Fore Street to the front and also from The Quay to the rear. Wooden Storage Shed

THE BUSINESS
The Courtyard is a well-established and well-regarded licensed café and bistro which trades from April until the end of October half term (approximately 7 months a year). The business trades on a predominantly daytime only basis, however our clients do trade in the evenings during the peak six weeks of school summer holidays. Presented in excellent order throughout, the business boasts impressive levels of trade and strong net profits and benefits from a lucrative and busy trading position in the main street in the centre of Looe. Food is sourced as locally as possible, is freshly prepared and cooked to order and there is also a range of daily specials. This attention to details ensures the business enjoys excellent levels of regular repeat trade and an established following. The business does have active Facebook following. The business has been awarded a 5 star hygiene rating. The business is dog and child friendly and offers patrons free Wi-Fi access. An internal inspection is essential in order to fully appreciate the high standards inherent throughout all aspects of the business.

TRADING INFORMATION
Management accounts for the period 28th May 2021 to 10th September 2021 show sales of £221,625 excluding VAT before any furlough/grant payments and an impressive profit of £68,237. Full detailed trading information can be made available to interested parties following a formal viewing appointment.

OPENING HOURS
Our clients have chosen to trade the business from April until the end of October half term (7 months). The opening hours are 11.00am until 4.00pm seven days a week although these hours are extended with evening opening from 5.00pm until 9.00pm during the school summer holidays.

LICENCES
The business holds a premises licence which permits the sale of alcohol between 9am and midnight, Monday to Saturday and between midday and 11.30pm on Sunday. Full details upon request.

EPC
Gride 2 listed property and therefore exempt.

CURRENT STAFFING
We are advised that staff are employed on a seasonal basis only and therefore there are no ongoing staff commitments. More details on request.

POTENTIAL
Our clients advise that there is potential to increase the current trade levels and an opportunity for further advertising and marketing, including the development of a website and without any shadow of a doubt there is an opportunity to extend the opening hours, particularly by opening during the evenings on a more regular basis throughout the year. 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 well-presented business in a prominent trading position. The Courtyard represents a unique opportunity to purchase a lucrative business with a well-established trade in a sought after and desirable coastal town and new owners will benefit from being able to move in without the need of any major expenditure on the premises. Coupled with this, the business enjoys good levels of regular repeat trade plus a substantial boost during the summer months and an early appointment to view is recommended in order to fully appreciate all that this impressive catering business, with low overheads, has to offer.

RATING
We are advised that the business benefits from small business rates relief and that no business rates are currently payable. For up-to-date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website

SERVICES
All mains services are connected to the property including a 3 phase electricity supply.

PRICE & TENURE
£135,000 for the valuable leasehold interest as a going concern business and full trade inventory. Wet and dry stocks (if any) to be additional at valuation. The business is held on a 7 year lease which commenced in 2018 at the current rent of £9,500 per annum. Rent is payable quarterly in advance and the courtyard is held by way of a licence, with no additional rent payment. We are advised that the lease is protected and benefits from security of tenure.

Brochures

Fore Street, Looe, Cornwall, PL13

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Looe Station0.4 miles
  • Sandplace Station2.3 miles
  • Causeland Station3.6 miles

About STONESMITH, Exeter

Suite B, Castle View Barns, Woodmanton, Exeter, Devon EX5 1HQ

Stonesmith are a leading business transfer agent specialising in pubs for sale, hotels for sale, catering businesses for sale and leisure and hospitality businesses for sale in the Westcountry / South West including Devon, Cornwall, Dorset and Somerset.

Our team has over 75 years combined experience in dealing in the sale and acquisition of licensed, leisure and hospitality properties, and businesses throughout the Westcountry / South West.

Contact us for a free, no obligation con

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Disclaimer - Property reference 2134. 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 STONESMITH, Exeter. 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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