* Located opposite Cattle Market Car Park, close to High Street and M&S Foodhall
* Turnkey operation, fully fitted and operational
* Currently operating daytime only, 5 days per week, but suitable for evening trade if desired
* Attractive interior with plenty of natural light and brick-paved flooring
* Covers for 24–30, providing from main open-plan café and servery
* Already profitable trade with scope for more business
LOCATION
With over 40,000 inhabitants, including nearby villages, Barnstaple is a thriving town near to beautiful beaches and countryside and the centre of North Devon in commerce, culture, education and service provision. It has a wide variety of businesses attracting tourists and permanent residents year-round, including a vibrant and diverse collection of bars and restaurants for evening footfall. Barnstaple is easily reached via the A361, which leads to the M5 at Junction 27, has a station with hourly trains to Exeter at peak times, and Exeter airport is an hour away. The town is rapidly expanding, with several new housing and commercial developments currently underway, more than 5,000 new houses and further economic development planned for the near future. The notable towns of Bideford (9 miles), Woolacombe (14 miles), Ilfracombe (12 miles), South Molton (12 miles) and Torrington (14 miles) are also nearby.
THE SITUATION
The subject property is situated on Tuly Street, opposite the Cattle Market car park and close to Towns High Street, M&S Foodhall and the covered retail parade of Gammon Walk. There are assorted retail, office and leisure users in the immediate vicinity, as well as the Town's Library.
Property and Construction
Being a prominent ground-floor lock-up cafe premises with a single frontage and double entrance doors. The premises provides a trading area of circa 779 sq. ft. (72 sq. m.), including a fitted kitchen and preparation area with café seating for 24–30 covers, benefiting from plenty of natural light and fitout including feature paved flooring.
THE PROPOSAL
Our client is inviting offers for the leasehold interest of the business and an assignment of the existing lease at a current rent of £12,500 per annum.
THE BUSINESS
The business was established by our clients in 2020, during which time they have built up a profitable daytime trade with opening hours of 9 a.m.–3 p.m. Tuesday – Saturday. At present, one of the owners operates the kitchen with assistance in the kitchen and front of house from 2 staff members and additional Saturday assistance. The other owner is employed elsewhere and undertakes administration works on a Saturday. Main menu lines include breakfasts, lunches, cakes, sandwiches, cream teas, salads, hot and cold drinks, as well as being 100% gluten-free and offering a vegan range. Turnover for the past 3 years has been between £125,000 and £143,000. More accounting information is available after viewing.
THE STOCK
Any current stock to be purchased at valuation upon completion.
THE INVENTORY
The property is sold with an inventory of trade fixtures, fittings and equipment; all kitchen equipment purchased from new during client’s ownership.
VAT
Payable, if applicable, at the prevailing rate.
ENERGY PERFORMANCE CERTIFICATE
Please contact the agents for a copy of the Energy Performance Certificate and Recommendation Report.
THE ACCOMMODATION (comprises)
GROUND FLOOR
CAFÉ
GIA 779 sq.ft (72 sq.m) incorporating table and chair covers for 24–30, single frontage, double entrance door, skylight in rear seating area, brick paved flooring, counter/servery with twin coffee machine and water boiler (leased, finishing 2024), jacket potato oven, iPad till system, drinks chiller, cake display
KITCHEN
Non-slip flooring, gas interlock, chiller gantry, hot cupboard, twin panini grill, 2 x single deep fat fryers, 6 burner oven, extraction system, electric grill, commercial fridge, double sink unit, dish washer, all equipment purchased from new during client’s ownership
PREP ROOM
Stainless steel single drainer sink, worktop, double chiller, chest freezer, dry store with shelving and chest freezer
TOILET
Commercial Funding
Having been in the trade for many years, we have established good connections in the finance sector. Our association with these Banks and Commercial Brokers means that we are able to offer you introductions to competitive finance packages for new purchase or refinance purposes alike. Whether it is initial advice on your likely purchase level or if you are at the point of making an offer, you will often be able to achieve preferential rates, possibly saving you thousands of pounds. Please call for more information.
IMPORTANT NOTICE
JD Commercial for themselves and for the Vendors of this property, whose Agents they are, give notice that:
1. The Particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers should seek their own professional advice.
2. All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
3. No person in the employment of JD Commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of JD Commercial, nor into any contract on behalf of the Vendors.
4. No responsibility can be accepted for any expenses incurred by any intending purchaser in inspecting properties which have been sold, let or withdrawn.
PROPERTY MISDESCRIPTIONS ACT 1993
1. All measurements are approximate.
2. While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact JD Commercial and we will be pleased to check the information for you, particularly if contemplating travelling some distance to view the property.
3. We do our utmost to comply with this Act in full. However we are also trying to represent our clients’ properties in their high possible light, as such we may use summer photographs to promote some properties.
