A particularly smart hybrid trading property with licenced cafe/bar and beach goods retail. Subject to complete refurbishment during our clients ownership who have created a stylish venue within a stones throw of Goodrington Beach in Paignton. The leasehold premises provide for two lock up buildings, one as a retail shop and takeaway for use through the warmer months and the other as an open plan licenced cafe bar which can be used year round and works for a variety of uses to include daytime trading cafe to the locals who will regularly pass by en route to the beach, peaking in the Summer months from the significant holiday trade that exists (three large holiday parks nearby). By night (something not fully exploited by our clients) the space has been used as a stylish bar/live music venue or private function space.
The main premises comprise an open plan trading area (13m x 9.7m average) with full glazing to the front and smart driftwood style decor which can accommodate up to 55 covers to include a useful raised area to one end. Bespoke servery with attractive rowing boat style shelving for cafe and bar use. Customer toilets, storage room and beer cellar. Fitted kitchen with planning submitted for extension to incorporate further storage to future proof the growing business needs. The the front of the shack there is bench seating whilst to the side there is an enclosed compound for additional storage. The retail and takeaway is a real summer gem and very popular given the location within a 2 minute walk of the beach. Lock up unit of (9m x 3m) with ample space for beach goods both inside and out (on the terrace) plus takeaway section.
The business has been transformed by our clients who took on the original beachshop business and have since undertaken a comprehensive refurbishment to create a vibrate venue that appeals to locals and visitors alike. During their first year they have proved that the sea shack is popular year round with the local customers very supportive of their sunday music events and private functions. This year, due to family commitments and a very busy summer season our clients have decided to close to recoup and will reopen again unless a new operator is found in the meantime. Ample opportunity exists to enjoy both the strong underlying business already created and to build on the cooler months and extended opening.
Location
Goodrington is a popular suburb of Paignton, centred on the golden sands of its beach, with ample facilities nearby and a last reported population of 7,431 (census 2021) in addition to the significant surrounding visitors from Torbay and Teignbridge who visit the area for the beach (North beach being dog friendly year round) Youngs Park and Quay West Water Park. The South West Coast path is between the subject venue and the beach and population swells considerable during the warmer months at which times our client enjoy significant additional revenue from their adjoining beach shop and takeaway.
Accommodation
All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition).
Planning
Local Planning authority ---.------.---.--.
Rent / Price
Available by way of lease assignment for £120,000 to include the trade inventory. Stock in addition and at valuation. Rent £7,000 pax. Applicants will need to provide proof of funds and provide credit and personal reference for landlord approval. Leasehold with 10 year terms from August 2022.
Our client's will consider a sub letting for a minimum 12 month term. Ingoing costs £40,000 to include trade inventory which will be valued once terms are agreed and revalued for a buy back at end of term. All bills to be the responsibility of the sub tenant. Subject top landlord consent.
Service Charge
N/A
Business Rates
From the Valuation Office Agency website (---.---.---.--) we understand that the current Rateable Value is £7,200 and as such subject to 100% rates relief under the small business scheme.
Services
We understand that mains electricity, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.
EPC
D97
Legal Fees
The ingoing tenant is responsible for the landlords reasonable legal fees to deal with the leasehold assignment in relation to this transaction.
VAT
All figures quoted are exclusive of VAT if applicable.
