Town Centre Daytime Cafe in Eastbourne For Sale

Business description

Although the premises have been in use as a catering outlet for some time, our clients changed the menu when they took possession in November 2006. The menu now comprises all day breakfasts, sandwiches, jacket potatoes, toasted savouries, hot and cold drinks, pastries and desserts. In addition our client provides some Mediterranean and Middle Eastern dishes.

Takings are currently averaging £1,057 per week (May 2008) with a gross profit margin of about 64% being achieved. This is on the basis that the cafe closes mid-afternoon each day and is only open for 6 days a week. The nature of the area is such that full 7 day opening would be justified and our clients also advise that they have received many requests to open evenings.

Property information

Property:

Leasehold

Lease terms:

A 6 year lease from 25th March 2004 with 3 yearly rent reviews at a rent of £9,400 per annum until renewal in 2010. N.B. Tenants can expect to have the right to renew the lease under the terms of the 1954 Landlord and Tenant Act, upon expiry.

Location:

The café is situated in the centre of town in an increasingly popular shopping location. There is a good mix of other shops and businesses which attract customers to the area and these include a pharmacy, convenience store, launderette, book shop, travel agent, florist, medical eye centre, estate agency, hair salon, pizzeria etc. There is two hour on-street parking.

Other information

Reasons for selling:

The owners wish to move to France.

Trading hours:

8.00 am to 3.30/4.00 pm Monday to Saturday.

Inventory / Stock value:

£1,000