Restaurant/cafe for sale in 20 Chapel Street, Exmouth EX8

£25,000 (£25,000/sq. ft)
Restaurant/cafe for sale 1 sq. ft*
Interested in this property? Call +44 1392 976635 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Well Established Traditional Day Time Only Cafe
  • Situated in Busy Shopping Centre in East Devon
  • Main Cafe (29) & First Floor Restaurant (31)
  • Operating Easy Day Time Only Hours
  • Strong Levels of Trade

Property description

The property


The Wine of Araby is a thriving and well-regarded cafe and restaurant trading day times only. Having been in the current ownership for 21 years, the business offers the opportunity to purchase this highly desirable and easy to run catering business, with an established trade and an excellent following, in a prominent town centre location, within this highly sought-after East Devon coastal town. There is potential for incoming operators to increase the current day time only opening hours and to introduce evening openings and to apply for a license to serve alcohol. The sale of Wine of Araby also offers undoubted potential for new owners to build on existing levels of trade and to develop a style of trade to suit their own personal requirements. The premises briefly comprise: Main Cafe comfortably seating 39 customers on the ground floor with additional First Floor Seating Area comfortably seating 31 customers, Catering Kitchen with Washup Area, Preparation Kitchen/Store Room on the first floor and further Store Rooms on the second floor. There is also a Car Parking Space to the rear.


Situation


Wine of Araby occupies a lucrative and prime trading position with a visible frontage within the Magnolia Centre, the main pedestrianised shopping centre within the much sought after and highly regarded coastal resort town of Exmouth, probably one of the busiest tourist locations in East Devon. Enjoying all the considerable commercial advantages of its superior trading position amongst other complimentary businesses including well known national retailers, the premises are therefore well placed to take advantage of the high footfall, with a pay and display car park directly to the rear. Exmouth is a sought after coastal resort town situated on the Jurassic coast and designated as a World Heritage Site by unesco. It is also a dormitory town for nearby Exeter and has a resident population of around 49,000 people, although this increases substantially during the peak holiday months. Exmouth's sandy beach has long been a well-regarded tourist attraction. The cathedral city of Exeter with its easy access to the M5 motorway, intercity rail links and international airport, is approximately 12 miles to the North West. The sale of Wine of Araby represents a unique opportunity to purchase a busy and well regarded catering business in an excellent trading position with impressive levels of trade and with genuine potential for further growth and development.


Internal details


Ground Floor
Character georgian style window frontage with recessed part glazed entrance door leading into Main Cafe/Restaurant Area a traditional style room with carpeted flooring, wall mounted menu boards, raised seating area to the front, ice cream freezer, glass fronted upright drinks fridge, glass fronted desert display fridge, stairs to first floor and a range of free standing tables and upholstered chairs comfortably seating 39 customers. Waitress Station Area with work surface with open shelving below, electronic cash register, coffee grinder, toaster, two filter coffee machines (on free loan), hot chocolate machine and fridge freezer. Catering Kitchen fully tiled with theatre style open servery area, flat top griddle, twin table top deep fat fryer, four commercial microwave ovens, Lincat oven, commercial grill, commercial coffee machine, wall shelving, range of work surfaces with cupboards below, undercounter fridge, under counter freezer and extraction system. Wash Up Area with tiled walls, deep bowl stainless steel sink unit, wall shelving, further stainless steel sink unit, stainless steel hand basin, commercial dishwasher, upright commercial fridge, freezer and door to rear.

First Floor
Customer Seating Area with carpeted flooring, wall mounted menu boards, fridge freezer, ice cream freezer, windows to front overlooking the Magnolia Centre, range of free-standing tables and chairs comfortably seating 31 customers. Ladies WC. Preparation Kitchen/Store Room with part tiled walls, base and wall mounted cupboards, work surfaces, twin bowl stainless steel sink unit, two chest freezers, three under counter fridges, two upright fridges, two upright freezers, electric four ring cooker with extraction hood over.

Second Floor
Gents WC, Store Room a good-sized versatile room with windows to the front overlooking the Magnolia Centre. Store Room 2 a good-sized versatile room with aspect to the rear.

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


Car Parking Space and Bin Store Area.


The business


Wine of Araby is a traditional style cafe and restaurant which currently trades on a day time only basis. The business boasts impressive levels of trade and benefits from a lucrative and prominent high footfall trading position and has been established as a day time cafe and restaurant for many years. Through personal choice, our client trades the business on a day time only basis offering a traditional and popular menu to include breakfast, morning coffees, lunches, light bites including sandwiches, afternoon teas, a selection of cakes, daily specials and Sunday roasts. There is also a popular take away service for food and drink. The business has been owned by our client for over 21 years. The business caters for a loyal regular year round clientele and has an excellent local following, together with a seasonal boost from tourist's year round. The business has a website which provides further background information and menus.


Trading information


Accounts for the year ending 31st October 2017 show sales of £229,323 net of VAT. Full detailed trading information can be made available to interested parties following a formal viewing appointment.


Opening hours


The business trades Monday - Saturday from 9am until 5pm and Sunday from 9am until 3.30pm.


Current staffing


Currently the business is run by our client, as a single working proprietor on a part time only basis, with the assistance of four full time and six part time members of staff. Further details available upon request.


Potential


The sale of Wine of Araby provides an excellent opportunity to purchase a thriving, profitable and well established cafe business within a sought after East Devon coastal town. Our client advises that there is tremendous potential to increase the current trade levels, particularly increasing the opening hours and opening into the evening, especially during the busy holiday months. There is also the opportunity to apply for a license to sell alcohol and potential for incoming operators to develop their own style of cuisine and to trade in a manner to suit their own personal requirements and take advantage of this established business in a prime trading position. Our client is prepared to offer a full handover and training to interested parties, should they require it. There are undoubtedly opportunities for hands on owner operators working full time within the business or reduce the current staffing levels.


EPC


Requested and to be confirmed.


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 mains services, with the exception of mains gas, are connected to the subject property


Price & tenure


£25,000 for the valuable leasehold interest as a going concern business and full trade inventory. Wet and dry stocks to be additional at valuation.

The business is available by way of a new lease with the term to be negotiated. The current rent is £22,500 plus VAT per annum, payable quarterly in advance and we are advised that the premises are held on full repairing and insuring terms. Further details are available upon request.


Viewings


Strictly by appointment with the vendors Sole Selling Agents.Tel: Email:
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.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Stonesmith, EX5 on +44 1392 976635 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Stonesmith, and do not constitute property particulars. Please contact Stonesmith for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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