Restaurant/cafe for sale in Wellington Street, Teignmouth TQ14

Teignmouth lies along a stretch of red sandstone coast to the north of the unspoilt estuary of the river Teign in South Devon. The town is both a popular holiday resort with many hotels and guest houses and also a thriving town in which to live and work. Wellington Street is in a central location with a selection of nation and independent retailers and just a short walk from the popular seafront. The City of Exeter is approximately 15 miles north of Teignmouth with excellent transport links including an international airport and the M5 motorway.

17 Wellington Street is trading under the very successful Subway franchise. This well located unit is available as a turnkey business with no further capital investment required. Subway is an internationally recognised sandwich business known for its production style service producing freshly made sandwiches to the customer’s specific requirements. For the right person there is huge potential with the business suiting an owner operator who can be hands on and drive the opportunity forward for themselves. This fully supported franchise is available fully equipped and with a solid customer base. The open hours are 9am-7pm, however these could be extended should the next operator choose to. The premises is covered by CCTV and fitted with an L2 Fire Alarm system.

The sale of this going concern Subway unit allows an operator to take over a robust and well-established franchise at a massively reduced ingoing premium. Should an operator wish to start up a new site the initial outlay is as much as £150,000.

Please note – any buyer will need to go through the subway franchisee application and training program to be able to become a Franchise Owner. The current owners will also cover the franchise transfer fees of circa £4,000/£5,000.

Sign written glass frontage with side entrance leading to:-

Main Trade Area

Spaciously seating 22. Service counter with Subshop P.O.S, glass fronted refrigerated prep counter, overhead menu board and large drinks fridge. Refrigerated back counter, extraction system, rapid cook oven, bread oven, microwave, enclosed bread cabinet, soda fountain and coffee machine.

Rear Preparation Area

Stainless steel prep table, Nemco easy slicer, retarder cabinet, fridge and freezer, storage units, soda storage and stereo system.

Ladies, Gents & Disabled Cloakroom

General Information

Rateable Value

2023 List: £20,500.

Please note this is not Rates Payable. For further information we advise you contact the Local Billing Authority, Teignbridge Council.

Tenure

We have been informed that the Landlord is happy to negotiate a new lease to the new franchisee with terms to be agreed. Current rent set in 2008 is £25,000.

Business

The business has potential to be extremely profitable and would suit an owner operator. The owners have experienced a very strong trading performance following the pandemic as the Subway format provides a safe and secure environment for customers to purchase fresh fast food for both takeaway and eat in sales.

Subway is also now a well-established food delivery business via partnerships with Just Eat, Deliveroo and Uber Eats platforms, providing plenty of opportunity to grow this part of the business even further. Currently this location operates Just Eat on a collection only basis whilst they wait for Just Eat to start operating on a full delivery basis. There is huge potential for the new owner to start a self-delivery service. Where Just Eat have started operations in nearby locations sales have increased significantly.

The current owner will provide the new owner with every technical assistance to ensure that the store continues to be a success. Accounting information will be made available to Bona Fide applicants following a formal viewing to be arranged through Bettesworths.

Inventory

To include furnishings and equipment, required to operate the business, as per an inventory to be supplied, but excluding the owner’s personal effects.

Stock

Wet and Dry stock included in the sale price.

Services

We have been informed the premises are connected to mains water and electricity.

EPC Rating C