THE PROPERTY
The Press House is a vibrant daytime-only coffee shop, occupying lockup premises and boasting a prominent double-aspect corner position. Purposefully fitted by our clients in 2020 with a comfortable and eclectic feel, it offers incoming purchasers the opportunity to purchase an established coffee shop with the potential to develop the style of trade to suit their requirements. This desirable city centre business has an excellent and growing reputation and briefly comprises: a Front Seating Area comfortably seating 8+ customers; a customer service and Preparation area; a Room comfortably seating 10 customers, a Further Room with potential as an additional seating area; Customer WC; and Basement Cellar Storage. There is bench seating to the front for around 6–8 customers. The Press House currently only trades from 10 am until 3 pm Tuesday to Sunday. The sale of The Press House represents an opportunity to purchase a well-regarded coffee shop business in an excellent and prominent trading position with genuine potential to develop all aspects of the trade further.
SITUATION
The Press House is situated in a prime trading location with a prominent corner frontage fronting both Fore Street and Bartholomew Street West, close to the high street and main shopping areas within the Exeter city center. Fore Street is in Exeter's independent West Quarter, a few minutes walk from Cathedral Green, and has a vibrant and eclectic mix of unique shops and creative businesses. It also forms part of a rich local community. The businesses work together to promote individuality, style, and a good alternative to the normal high-street brands and establishments. Exeter itself is the regional capital of the South West and, as such, is not only an established and expanding business centre but also a popular tourist destination year-round. Renowned for its historic cathedral, University, and waterside developments, Exeter boasts excellent transport communications with 2 mainline rail links to London, an International Airport, and easy access to the M5 Motorway at Junction 30.
INTERNAL DETAILS
Fully glazed frontage and return aspect with recessed glazed entrance door leading into the Front Seating Area a split-level trade area with with stripped wood flooring, feature lighting, and eclectic tables, chairs, and seating for 8+ customers. Customer Servery and Preparation Area being painted timber fronted with servery counter over, cake display area, wall mounted menu board, shelving, stainless steel sink unit, dishwasher, commercial coffee machine, coffee grinder, ice machine, 2 under counter fridges, small fridge/freezer, preparation counters, microwave oven, Adexa warming oven, induction hob, Buffalo contact grill, and toaster. Steps from the seating area leading to the Green Room a comfortable lounge and seating area with concrete flooring, feature lighting, and eclectic tables and chairs provide seating for around 10 customers. Customer WC. A Further Room is currently used by our clients for their other business interests and provides the potential for an additional seating area or alternative uses, depending on requirements. Basement Storage Area with a chest freezer and racked shelving.
EXTERNAL DETAILS
Directly to the front of the property is Bench Seating for around 6–8 customers. We are advised by our clients that there is potential to obtain a pavement seating license from Exeter City Council, subject to completing the usual application and fees.
THE BUSINESS
The Press House trades as a quality, daytime-only coffee shop. Well-presented throughout, the business benefits from a lucrative and prominent city trading position on one of the main arterial roads into and out of the main city center. The business has a popular and easy-to-prepare food and beverage offering which has been deliberately restricted for ease of service and to suit our clients' needs. This ranges from specialty coffees and teas to cold drinks, cakes, tray bakes, and pastries. A brunch menu is also offered, but only at the weekend. The premises are purposefully fitted and equipped for the current trade and consequently offer an excellent trading environment. The business is run by our clients on a part-time basis because of other business interests, together with 1 part-time member of staff. The Press House benefits from a 5-star food hygiene rating, an excellent social media following and numerous excellent reviews on Google. The business also benefits from a website and our clients are prepared to offer full handover and training to interested parties should they require it.
TRADING INFORMATION
We are advised that trade levels are deliberately restricted to keep below the VAT threshold, through personal choice and with other business interests in mind. Further trading information can be made available to interested parties following a formal viewing appointment.
OPENING HOURS
The business trades on deliberately restricted opening hours of 10 am until 3 pm 6 days a week, being closed on Monday.
POTENTIAL
The sale of The Press House represents a perfect opportunity to purchase an easy-to-run daytime-only coffee shop and catering business which is well presented and offers tremendous potential for new owners to develop all aspects of the trade further. Undoubtedly, there is potential for incoming operators to extend the opening hours and to extend the menu range and availability. There is also the potential for new owners to develop their style of trade to suit their requirements. New owners will benefit from being able to move in without the need for any major expenditure on the premises. Any early appointment to view is highly recommended to fully appreciate all that this quality and easy-to-run catering business has to offer.
RATING
We are advised that the business rates payable are currently nil after 100% business rates relief. For up-to-date Business Rates information, we refer you to The Valuation Office website
Mains water, drainage, and electricity are connected to the property.
EPC
B-31.
PRICE AND TENURE
£39,950 for the valuable leasehold interest as a going concern business and full trade inventory. Stock at valuation. The premises are held on an internal repairing and insuring lease (to include the shop fronts) for the remainder of a 3-year lease, which commenced in August 2023. The rent payable is £11,000, payable monthly in advance. There is currently a rent deposit of £2,000.
