Long-established (100 years) Fish & Chip Shop business situated in the ever-popular and desirable village of Alcombe, on the outskirts of the resort town of Minehead, Somerset.
Virtual Freehold 999-Year Lease : EPC Rated (D)
Ground Floor Building Only: A Character property briefly comprising traditional chip shop (circa 700 sqft) with main reception, ancillary areas, prep, storage rooms, and outbuildings, fully fitted and equipped, including a pristine commercial range burner. Attached is a 2-bedroom flat (No. 1 Alcombe Hall, circa 600 sqft) with lounge-dining room, kitchen, bathroom, and 2 bedrooms. (currently let on assured short-hold tenancy at £700 pcm. vacant possession if required) Easy-to-access trading location in a densely populated residential area, Free parking bays to the front, with further on-road parking to the surrounds.
Offered as a going concern with excellent historic financials and accounts, the business benefits a consistent annual turnover of £150,000 to £175,000 pa. with a gross profit of £80,000 to £90,000 pa.
Headline numbers for the most recent financial year ended 2023 show: EBITDA: £61,000; Operating Profit: £32,000; Adjusted Net Profit: around £45,000 pa. (currently trading 5 days per week on a 21:00 close, 11 months per annum, with a large seasonal boost) (1 month annual leave taken by proprietors, usually January)
Operated on a lovely lifestyle basis by a husband-and-wife team with 2 part-time staff, the business is acknowledged as being the go-to fish and chip shop in the local area. Huge scope and growth remain. The attached flat could be used for investment income as it currently is or as owner accommodation (VP if required)
The most recent year-end accounting information will be made available to seriously interested parties, subject to a formal viewing.
This business was viewed and valued by Richard Payne, who will be pleased to discuss the opportunity in further detail.
