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Leasehold Cafe Located In Penzance For Sale

Penzance, Cornwall, UK
Asking Price:
£54,950
Turnover:
£73,383
Net Profit:
Available on request

Leasehold Cafe located in Penzance. External seating with stunning views over the harbour. Lifestyle business with further potential.

Veritas Business Sales are delighted to offer for sale this respected Restaurant/Cafe which overlooks the harbour in Penzance and is just a short distance from both the centre of town and the Scillonian Ferry terminal. The business has been established for over 30 years and has been in the careful hands of our clients for the past 6 years and is reluctantly being offered for sale so they can enjoy a well deserved retirement.
Since ownership they have continually refurbished and invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. Harbourside cafe is owner operated and employs the help of 3 part time members of staff and has an annual turnover of £73,383 with a GP of £47,152 (64.3%). The business serves a fine range of homemade cakes, scones, cream teas, milkshakes, soft drinks, freshly made specialist coffee, breakfast tea, fruit teas along with a breakfast & lunchtime menu. All meals are freshly prepared to order on site using only the finest local produce.
We believe that there is further potential to increase trade should you wish as our client currently operates this at a gentle pace to suit themselves and chooses to trade below the VAT threshold. There is also an opportunity to open in the evenings and maybe add fish & chips to the menu which has proved very popular in the past. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many new visiting tourists. This is a superb opportunity to purchase an established lifestyle business which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.

Property Information

Property:

Leasehold

Lease Terms:

Original term: 14 years
Remaining: 6 years
Reviewed: 3yearly
Rent: £8,500
Rates: zero

Leasehold Rent:

£8,500 per annum

Location:

Harbourside Cafe is located in the perfect position in the seaside town of Penzance in the South West of Cornwall. Penzance remains one of the County’s most popular holiday destinations, being surrounded by stunning beaches along with many tourist attractions to include St Michael’s Mount, The Minack Theatre and Lands End. The main train line from London to the South West terminates at Penzance giving easy access to commuters from all over the country. The town has a population of circa 21,000 that increases immensely during the summer months.

Premises Details:

Ground Floor
Restaurant/Café (7.1m x 7.6m) comprising: 3 tall tables with seating for (6), tables & chairs with seating for (26), sales counter, menu boards, display chiller counter, various pictures, 2 under counter drinks fridges (Polar), expresso coffee machine (Facino) and wash basin.
W/C with wash basin and mirror.
Store cupboard with various shelves.
Kitchen (3.0m x 2.9m) comprising: hot plate (Buffalo), 4 ring oven (Beko), under counter fridge (Beko), salamander grill (Lincat), stainless steel shelves, stainless steel prep table, dual fryer (Buffalo), extractor unit, toaster (Buffalo), toaster, 3 door chiller unit (Polar), microwave, 2 white microwaves, 2 stainless steel shelves and sink with drainer.

Energy Performance Rating:
F

Business Operation

Reasons for selling:

Retirement

Trading hours:

Winter Wednesday – Saturday – 9.00am – 2.00pm
Summer Monday – Sunday – 9.00am – 5.00pm

Years established:
30 years

Other Information

Inventory / Stock value:
£1,000

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