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Exceptional Café Licensed Restaurant For Lease

Chagford, Devon, UK
Asking Price:
£89,950
Turnover:
£121,119
Net Profit:
Available on request

THE PROPERTY
The Old Forge Caffe & Restaurant is a high-quality café and licensed restaurant operating on deliberately restricted daytime-only hours and presented to an extremely high standard throughout. It has an excellent reputation for its famous Devonshire cream teas and is the number 1 rated restaurant in Chagford, on Tripadvisor. Originally a traditional blacksmiths forge in the early 1800s, the ambience of The Old Forge remains sympathetic to its history, featuring double entrance doors (through which horses were led into the shop to be shod) and large windows across the entire frontage of the premises which overlook the ancient water fountain opposite. In place of the original forge’s furnace, there is now a stove fireplace. The business offers potential for incoming operators to develop a style of trade to suit their own requirements and take advantage of the prominent town centre trading position. Owned and run by our client for 4 years, the premises are purposely fitted and equipped and are presented to an extremely high standard throughout having been the subject of complete refurbishment and renovation in recent years including the installation of a new catering kitchen, the replacement of the upstairs windows, renovation and redecoration of the main café area and installation of the traditional gas stove fireplace. The premises briefly comprise:- Main Café & Restaurant Area with seating for up to 30 customers; Customer Servery Area; fully-equipped Commercial Catering Kitchen and Customer WC. In addition, the business benefits from an attractive and well-presented self contained 2 Bedroom Apartment on the first floor with Sitting Room, Kitchen and Bathroom.

SITUATION
The Old Forge Caffe & Restaurant occupies a prime and prominent trading position in this most desirable, affluent and sought-after Dartmoor town, at the lower end of the busy town square. Chagford is an attractive ancient stannery town offering a wide variety of day-to-day specialist shops and excellent range of amenities in the town. The large town of Okehampton lies 10 miles to the west and the University and Cathedral City of Exeter lies 20 miles to the east with its mainline rail links to London and its international airport. Chagford itself is home to a population of approximately 1,500 residents. The town attracts tourists visiting the area as well as day visitors from the surrounding towns and villages. Chagford has easy access to the A30 dual carriageway (4 miles) leading west to Cornwall and to the east to Exeter where there is access to the M5 motorway network. Dartmoor is renowned for its spectacular scenery with granite tors, habitat, moorland and wooded valleys dissected by rushing streams and rivers and there are many opportunities locally for walking, riding, fishing and adventure sports. The sale of The Old Forge Caffe & Restaurant represents a unique opportunity to purchase a well-established and extremely well-regarded business in an excellent trading position with impressive levels of trade and profits and genuine potential to increase all aspects of the trade still further.

INTERNAL DETAILS
Solid wooden double entrance doors to front which lead through into the Entrance Vestibule with store cupboard and glazed double entrance doors leading into the Café/Restaurant Area. An attractive and contemporary dining area, furnished and presented to an extremely high standard with stripped flooring, attractive feature windows to the front, feature brick fireplace with inset coal-effect Living Flame gas stove, range of free-standing tables and chairs seating up to 30 customers (currently 22 through personal choice for social distancing). Customer Servery Area with painted timber front and polished wood topped serve-over counter with display area, Rancilio espresso/coffee machine, coffee grinder, hot water still, under counter fridge, cake display fridge, glass fronted bottle fridge, ice cream machine and freezer, cash register, stainless steel hand basin, storage cupboards, feature display shelving. Understairs Store Cupboard. Customer WC. Commercial Catering Kitchen with Altro non-slip flooring and stainless steel and wipe-clean clad walls, fitted with a range of commercial catering equipment to include:- 4-ring cooker with double oven, floor standing deep fat fryer, 2-burner gas range, extractor fan with stainless steel canopy over and gas interlock, commercial microwave oven, 2 toasters, serving gantry with warming lamps, plate warming cabinet, stainless steel workbenches, 3 undercounter fridges, upright fridge, stainless steel sink unit, commercial dishwasher, 2 flat top griddles, stainless steel racked shelving, stainless steel wall shelving and eye level grill.

Please note: The fittings, equipment and services listed have not been tested by the agents, although we are informed that all items are in working order.

PRIVATE ACCOMMODATION
Situated on the first floor above the restaurant and being totally self-contained, with its own independent access to the front of the property, is the well-presented apartment which briefly comprises:- Landing; Sitting Room an attractive and bright room with three windows to the front aspect, fireplace with inset living flame gas fire; Bedroom 1 - a double bedroom with aspect to the rear with built in wardrobes; Bedroom 2 - a small double bedroom, currently used as a store room with 2 chest freezers, racked shelving, and spare catering equipment, with aspect to the front and built in wardrobe; Kitchen fully fitted with a range of modern base and wall-mounted kitchen units and complementary worksurfaces and incorporating a built in hob and oven, half size dishwasher and washing machine; Bathroom again fitted to a high standard with free-standing claw foot roll-topped bath with power shower over.

THE BUSINESS
The Old Forge Caffe & Restaurant trades as a quality licensed café and restaurant on a daytime-only basis. Enoying an excellent reputation with locals and visitors alike for its quality home-made food, ambience and service, The Old Forge offers a full varied daytime-only menu including breakfasts, lunches, treats, cakes and cream teas, hot and cold beverages, wines and beer. The menu reflects the best local produce that the area has to offer. The menu changes regularly using seasonal produce and ingredients. Consequently, the business boasts an enviable level of regular repeat custom which is boosted by visitors to the town throughout the year, and The Old Forge has attained a number of awards and accolades over the years including winner of The UK’s Best Afternoon Tea and Cream Tea and is the number 1 ranked restaurant in Chagford on TripAdvisor, with a Travellers’ Choice Award 2021, ranking it amongst the top 10% of businesses on Tripadvisor. The business also holds a 5 Star Food Hygiene rating. The business has its own website which provides further background information. An internal inspection is essential in order to fully appreciate the high standards inherent throughout all aspects of this business.

TRADING INFORMATION
Accounts for the year ending 31 March 2020 show sales of £121,118. This was achieved from daytime trade only, 5 days per week, and our clients choose to close the business in December and January for 4/5 weeks, as well as sporadic holidays during the year. Full detailed trading information can be made available to interested parties following a formal viewing appointment.

OPENING HOURS
Through personal choice our clients, a husband and wife team, have chosen to deliberately restrict the trading hours to daytime trade only, trading from 9am to 4.30pm Tuesday to Saturday during the summer and from 9am to 4pm Tuesday to Saturday during the winter. The business is closed on Sunday and Monday.

CURRENT STAFFING
The business is run by our clients, a husband and wife team with the assistance of up to 4 part-time/casual members of staff.

Property Information

Property:

Leasehold

Lease Terms:

£89,950 for the valuable leasehold interest as a going concern business and full trade inventory. Wet and dry stocks to be additional at valuation. Vacant possession upon completion. The business is held on the remainder of a 15 year lease which commenced in January 2014 with a current rent of £17,000 per annum. The lease is full repairing and insuring, (apart from the roof which remains the responsibility of the landlord

Location:

The Old Forge Caffe & Restaurant occupies a prime and prominent trading position in this most desirable, affluent and sought-after Dartmoor town, at the lower end of the busy town square. Chagford is an attractive ancient stannery town offering a wide variety of day-to-day specialist shops and excellent range of amenities in the town.

Premises Details:

The Old Forge Caffe & Restaurant is a high-quality café and licensed restaurant operating on deliberately restricted daytime-only hours and presented to an extremely high standard throughout. It has an excellent reputation for its famous Devonshire cream teas and is the number 1 rated restaurant in Chagford, on Tripadvisor. Originally a traditional blacksmiths forge in the early 1800s, the ambience of The Old Forge remains sympathetic to its history, featuring double entrance doors (through which horses were led into the shop to be shod) and large windows across the entire frontage of the premises which overlook the ancient water fountain opposite. In place of the original forge’s furnace, there is now a stove fireplace. The business offers potential for incoming operators to develop a style of trade to suit their own requirements and take advantage of the prominent town centre trading position. Owned and run by our client for 4 years, the premises are purposely fitted and equipped and are presented to an extremely high standard throughout having been the subject of complete refurbishment and renovation in recent years including the installation of a new catering kitchen, the replacement of the upstairs windows, renovation and redecoration of the main café area and installation of the traditional gas stove fireplace. The premises briefly comprise:- Main Café & Restaurant Area with seating for up to 30 customers; Customer Servery Area; fully-equipped Commercial Catering Kitchen and Customer WC. In addition, the business benefits from an attractive and well-presented self contained 2 Bedroom Apartment on the first floor with Sitting Room, Kitchen and Bathroom.

Business Operation

Trading hours:

Through personal choice our clients, a husband and wife team, have chosen to deliberately restrict the trading hours to daytime trade only, trading from 9am to 4.30pm Tuesday to Saturday during the summer and from 9am to 4pm Tuesday to Saturday during the winter. The business is closed on Sunday and Monday.

Other Information

Related Documents:

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