Restaurant/cafe for sale in Fore Bondgate, Bishop Auckland DL14

£69,995
Restaurant/cafe for sale
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Property description

Business
Please quote reference B06046

Hilton Smythe welcomes to the market an exciting opportunity to acquire, on a Leasehold basis, an exceptionally well run and performing, licensed café/ deli takeaway.

Spudfellas, has been under the careful ownership of our clients since 2017. They have grown the business year on year to an impressive level with turnover and profit levels growing steadily.

The business has built up an enviable reputation, not just locally but also further afield, a true testament to the calibre of business on offer which can also be seen with the excellent online reviews. The business is now being offered for sale as it is our clients desire to focus on other commitments.

Spudfellas prides itself on the quality of its food which is freshly prepared on the premises using local ingredients wherever possible. The menu includes traditional staples along with their exceptional burgers, pizza, burritos, nachos, and desserts but to name a few, and offers a range of alcoholic drinks, including cocktails as well as non-alcoholic drinks.

The business can also cater for private events such as intimate music gigs along with socials, and they have developed a courtyard area to the side which is popular in the summer months and is regularly booked out. Internally there is also seating for 14 -18 persons with standing room for 10 around the bar area, again this is very well utilised when small functions have been booked.

We feel that there is scope to increase the turnover by the undertaking of a robust marketing campaign, via press & social media. The business has a strong social media presence along with a very good website in place and this could easily be utilised to further highlight and promote the business. Also, when possible an increase in trading hours will significantly help to increase turnover, with offering a lunchtime special menu for example. The business could also expand in its current location as there are a further 2 upper floors that are currently not in use, we are advised by the sellers that there are a series of grants available in the area due to the history of the street.

A tremendous opportunity to own this turnkey business, and early enquiries must come highly recommended to avoid disappointment.

Location
The business is in the busy and bustling Fore Bondgate area of Bishop Auckland (DL14), surrounded by a host of complimentary, independent businesses leading to a good level of footfall and passing trade.

Bishop Auckland is almost at the end stages of a massive, multi-million-pound investment /regeneration of the marketplace area, including galleries, national museums, and the reopening of Auckland Castle, all of which are near the business, with hopes that this will increase new visitor numbers to over 500,000 per year.

The area further benefits from being well serviced in terms of local amenities and travel links.

Premises
The business is based on the ground floor of a 3-storey building in Fore Bondgate, Bishop Auckland. Located to the front of the premises is the main seating area that can accommodate around 14 to 18 with a mixture of tables and chairs, this is where the intimate live music gigs and socials are held and has further standing room for another 10 customers. There is also a small, well presented bar area located within the main area. The ground floor also benefits from having customer and staff W/C facilities.

To the rear of the premises there is a fully functioning commercial kitchen / catering area, fitted with a host of good quality industry equipment, along with ample preparation areas and both refrigerated and freezer storage.

Externally, the current owners have created an outdoor courtyard area with seating for 16. Which is extremely popular in the summer months and consists of a mixture of tables and chairs.

The business currently occupies the ground floor area within the premises, with the possibility of expansion as there are currently a further two upper floors that require some refurbishment, but the current owners suggest there may be a series of grants available (subject to local authority consent) to help with this.

All fixtures and fittings, including tables, chairs, bar fittings, all catering / kitchen equipment required to operate the business are included in the sale.

Tenure
We are advised that the business is being sold on a Leasehold basis, with 1 year remaining on the 5 year lease. The rent is £500 per month.

Hours
The business is currently trading (covid-19 Hours) ;

Monday - Closed
Tuesday - Closed
Wednesday - Closed
Thursday – 17:00 – 21:00
Friday - 17:00 - 21:00
Saturday - 17:00 - 21:00
Sunday - 12:00 - 14:30

Staff
We are advised that the business has 1 full time and 2 part time members of staff.

Financial Profile
We are advised as per the 2020 accounts, the business generated a turnover in the region of £70,000, with an adjusted net profit in the region of £30,000. Full financials can be made available upon further request.

Please quote reference B06046

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For more information about this property, please contact
Hilton Smythe Business Sales, BL1 on +44 1204 351867 * (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 Hilton Smythe Business Sales, and do not constitute property particulars. Please contact Hilton Smythe Business Sales 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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