Ref 6947 – Leasehold Established Cafe/Restaurant
Blacks Brokers are pleased to bring to the market this leasehold café/restaurant located in the town centre of Clevedon, Somerset.
Old Street Pantry was established by our client in 2014. The business would be best described as a family run eatery serving food with a modern edge using locally sourced produce. It has quickly become a well liked, integral part of the local community. The business is very well known and has a strong base of regular customers in place as well as benefitting from a good amount of passing trade generated by this excellent position. Our client has ensured the business has an excellent reputation and superb reviews are noted on Google, Trip Advisor and Facebook.
Old Street Pantry occupies a main road trading position in the centre of Clevedon. The area is well populated commercially with neighbouring businesses including eateries, independent retailers and large multiples such as B&M and Lidl. Clevedon Bay with its Victorian pier and Clevedon Hall are also close by. The area is well linked by the M5 which is less then one mile away, public transport links are excellent. Free parking is available nearby.
The business is ideally suited to a hands-on owner-operator but due to our client’s retirement, the business is offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.
The building is available on a Full Repair and Insure lease (Fri lease). This is the most common form of commercial lease. The current lease is a ten year lease which began in 2014 and this runs at a cost of £192 per week.
The business operates with two part time members of staff supporting our two clients in full time employment.
Old Street Pantry has traded solidly since opening and our client has established a strong customer base. Accounts for year ending 31st March 2019 show annual turnover of £82,432 with gross profits of £56,176. It is to be stressed that the business is currently being run for just 48 weeks of the year and is open just five days a week to suit our clients preference. A new owner could benefit from trading a six or seven day week for 52 weeks which would boost the current turnover even further. Full financial information available upon request.
The business currently benefits from Small Business Rates Relief. Purchasers should enquire with relevant local authorities to confirm the rates payable.
This is a well equipped café which occupies a superb trading position and has a strong base of regular customers. There is plenty of scope to develop the business further with the implementation of a website with ordering service, introduction of a delivery service and the potential for longer opening hours to cater for evening trade. The business could accommodate a variety of cuisines. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Business: £44,950.
Please quote ref: 6947