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Licensed Cafe Bar and Coffee Shop
Business Reference: BP.00705
Location - Minehead Wellington Square, Somerset
Turnover - £115,000
Business Overview
Bizmove is exclusively retained to find a purchaser for a meticulously maintained, well appointed and superbly presented cafe bar & coffee shop situated in a prime position on Wellington Square in the resort town of Minehead, Somerset.
Inspected and valued by Richard Payne who will be pleased to discuss the business in further detail, this opportunity in his opinion represents one of the best he has valued of this type in recent times.
A complete turn-key operation for sale on an all inclusive basis due to retirement. (sold as seen) Rated 5* for hygiene as recently as May 2023.
Circa 1120 SQFT, the premises are displayed and presented beautifully throughout with quality fixtures and fittings, a detailed equipment inventory (owned outright/no leases), and clever use of space to allow multiple trading styles both daytime and evening.
Interchangeable configuration, easily manageable, currently 35-40 covers internally, and 20 covers externally (front pavement licence). An ambient front of house with tasteful decor and clever use of space, including a convertible counter top and servery that becomes a main bar area.
The premises benefits an alcohol license, and entertainments license offering diversity of trading styles.
Rated nothing less than 4 and 5* on Trip Advisor, the business has an amazing reputation being locally renowned, and very popular with visitors. Maintaining an excellent online presence, they make good use of social media, especially Facebook.
Long established business with steady turnover across decades, surviving war, recession, and Covid. Headline numbers show a consistent turnover of £100,000 to £120,000 pa with a gross profit in excess of 70% - circa £76,000 pa.
This is delivered from limited opening hours of 30 hrs per week by choice at present, with huge scope and growth to develop the trade, especially in the evening time.
Fully equipped stainless steel trade kitchen with extraction, ancillary & wash-up area, rear access door to service area with parking bays for 4.
Held on a 7 year lease term which commenced 2018, subject to an annual rent of £14,400. (The landlord has confirmed that a new 7 year lease term would be available to an incoming party subject to the payment of the landlord legal fees, and vendors selling agent costs)
EPC Rated - E - Rateable Value £ currently exempt
Minehead itself is a resort town in West Somerset close to the county town of Taunton. A desirable location with an average residential property value of £350,000, and a busy thriving town centre both in and out of season. To the opposite end of the main shopping area, is a stunning sandy beach with harbour, Butlins Holiday Resort, and a stunning links golf course (the oldest course in Somerset) Minehead is a busy and popular location throughout all seasons and supports several corporate chains including Premier Inn, Lidl, Tesco, Morrisons, Boots, Brewers Fayre, Argos, Wetherspoons and Poundland. Its continued growth is evident with other brands such as Travelodge currently seeking land for a hotel site.
Reason For Sale
Our client has decided the future business opportunity will be best realised in the hands of a new entrepreneurial owner who has the experience to drive the business forward.
To register your interest in this business and request further business and financial information, please click on the 'Contact Us' link below .