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Sea Front Cafe Plus Three Flats Wey Mouth For Sale

Weymouth, Dorset, UK
Asking Price:
£160,000
Turnover:
£114,000
Net Profit:
Under £50K

Deceptively Spacious Café over Two Floors seating approx.56
Including two first floor cosy tea rooms for private parties;
Large, Extensively Fitted Kitchen; Ample Storage;
Two x 1 Bedroom Holiday Flats +
Top Floor 2 Bedroom Flat for Letting or Owners

Outstanding Sea Views

An opportunity for two flats to pay for entire rent of building

A long established business which has been in the present hands since 2019 and the current owners have dramatically upgraded the equipment, decoration and quality of business. This exceptionally well run and superbly located business of a café with 3 flats is for sale due to family reasons.

The cafe is run by a husband and wife team with part time staff and is currently run seasonally closing in the autumn and re-opening in March, typically opening from 9 am in peak summer to around 3-4pm with later morning opening in the shoulder months.

The agents are informed that in 2021 with a late opening due to Covid 19 restrictions that the turnover of the café was approximately £74,000. The agents believe that because of the size and location of the business in a full year that the turnover would well exceed £100,000 p.a. and new owners could take advantage of the 12.5% Flat Rate Vat Scheme.

The agents are informed by the owners that the holiday flats are run as a separate business and therefore with takings for two flats informed at approximately £40,000 p.a. would not attract compulsory vat registration – the electricity and water are metered separately for each business. An employee carries out all servicing of the flats on turnround and all laundry is carried out by a laundry service. Lettings are arranged through an international company at a very competitive commission rate.

It is likely that the two holiday flats may achieve sufficient income to pay the rent on the entire 5 storey building.

EPC: Exempt

Tenure: The premises are held under the terms of a FRI 20 Year lease which commenced in 2019 at a current rent of £25,000 p.a. with 5 year rent reviews.

Price: £160,000 SAV

Property Information

Property:

Leasehold

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