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Well Established Licensed Cafe & Coffee Shop For Sale

Exeter, Devon, UK
Asking Price:
£35,000
Turnover:
Available on request
Net Profit:
Available on request

The property
No.1 Polsloe is a popular and well-regarded licensed, daytime only, café and coffee shop operating on deliberately restricted opening hours and just 4 days a week. Occupying a prominent and highly visible landmark trading position and being well presented throughout, the business offers potential for incoming operators to purchase an attractive and sought after easy to run catering business with an excellent reputation. No.1 Polsloe also offers potential for incoming operators to develop their own style of trade to suit their own requirements. The ground floor lockup premises are purposefully fitted and equipped and briefly comprise: - Main Café Area comfortably seating 30 customers; Private Forecourt Seating Area providing Al Fresco Seating for 12 customers; Customer Servery with Preparation Kitchen Area to the rear. The sale of No.1 Polsloe presents a unique opportunity to purchase a well-established and well-regarded catering business with impressive levels of trade and profits and genuine potential to increase all aspects of the trade still further.

Situation
No. 1 Polsloe is prominently situated on a busy intersection of one of the main arterial roads leading into Exeter city centre. The business is located within a mile of Exeter High Street in an area that is characterised by independent retailers and is a popular trading location benefitting from surrounding residential areas with extensive student accommodation. The premises also boast a visible presence for passing trade. Exeter itself is the regional capital for the Southwest and as such, is an established and expanding business centre, but also a popular tourist destination renowned for its historic cathedral, university and waterside developments. Exeter boasts excellent transport communications with 2 mainline rail links to London, an international airport and easy access to the M5 motorway at junction 30.

Internal details
Traditional double fronted unit with fully glazed picture windows and a central recessed glazed entrance door leading into Main Café Area an attractive trading space with wood flooring, part exposed brick walls, wine racking, free standing wooden tables, chairs and bench seating comfortably for 30 customers. Customer Servery with tile fronted and topped customer servery counter, with storage cupboards over, tiled walls, commercial coffee machine, coffee grinder, stainless steel handbasin, water boiler and two under counter fridges. Preparation Kitchen Area with tiled walls, wall shelving, extractor fan, commercial range with twin hobs and a hotplate, contact grill, twin electric hob, microwave, toaster, upright freezer, three door undercounter commercial fridge unit, eye level grill, twin bowl stainless steel sink unit, undercounter fridge, hot water boiler and base storage cupboards. Customer WC.

External details
The business benefits from an Enclosed Forecourt Seating Area to the front for 12+ customers and a Bin Store Area.

The business
No.1 Polsloe is a well-established and well-regarded licensed café and coffee shop which is well-presented throughout and boasts good levels of regular year-round trade. It benefits from a lucrative and prominent trading position on the outskirts of Exeter city centre, having a popular following from both students and locals alike from the surrounding area. Through personal choice, our client, a single working proprietor, has deliberately restricted the trading hours of the business to trade on a daytime only basis, just 4 days a week, in order to restrict trade to below the VAT threshold. The business trades a quality café and coffee shop, and our client does not make use of the license to sell alcohol. The business offers a selection of teas, coffees, hot chocolates, soft drinks, smoothies and milkshakes alongside an easy to prepare menu to include homemade pancakes and breakfast items, toasties, sandwiches and daily specials. No.1 Polsloe offers both eat in and takeaway options and benefits from a Facebook and Instagram presence, as well as numerous excellent reviews and a 5-star food hygiene rating. Our client has created a friendly, and easy to run catering business which sees excellent levels of regular repeat custom which is also boasted from passing trade. A viewing appointment is essential in order to appreciate the high standards inherent through all aspects of this business.

Trading information
The trade levels of the business are deliberately restricted and kept below the VAT threshold by our client, by closing for 3 days a week and by also closing for various holiday periods throughout the year. Full detailed trading information can be made available for this profitable business to interested parties following a formal viewing appointment.

Opening hours
9am until 3.30pm on Wednesday, Thursday and Friday; 9.30am until 3.30pm on Saturday. The business is closed on Sunday, Monday and Tuesday.

Current staffing
The business is run by our client a single working proprietor, with the assistance of part time and casual staff as and when trade levels dictate.

Potential
Our client advises that there is tremendous potential to increase trade levels with an opportunity to extend the current opening hours and opening for additional days each week. There are also opportunities to extend the current menu choices and also to develop an evening trade. There is also the potential for incoming operators to develop their own style of cuisine and to trade in a manner to suit their own personal requirements and to take advantage of this well-presented business in a prominent trading location. No.1 Polsloe represents a unique opportunity to purchase a profitable business, with a well-established trade and reputation, in a sought-after trading location. Our client is prepared to offer a full handover and training to interested parties, should they require it. The sale of No.1 Polsloe represents a rare opportunity to acquire a high-quality catering business and new owners will benefit from being able to move in without the need for any major expenditure. Coupled with this the business enjoys excellent levels of regular year-round trade, with an impressive local following and an early appointment to view is recommended to fully appreciate all that this easy to run catering business has to offer.

EPC
E - 119.

Rating
We are advised that these are currently nil, after 100% business rate relief.

Services
All mains services, except for mains gas, are connected to the property.

Price & tenure
£35,000 for the valuable leasehold interest as a going concern business. The business is held on the remainder of a 5-year lease, from 2020. The current rent is £12,000 per annum. We are advised that the landlord will consider granting a new 5-year lease to incoming tenants. Full details are available upon request.

Viewings
Strictly by appointment with the vendors Sole Selling Agents.
You are recommended to contact us before visiting the property even for an informal viewing. We can then confirm whether or not it is still available.

Finance
An early discussion about finance can often save time and disappointment. If you would like independent specialist advice on funding this property or any other purchase, we recommend you contact us for a list of our approved brokers.

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.

Property Information

Property:

Leasehold

Lease Terms:

£35,000 for the valuable leasehold interest as a going concern business. The business is held on the remainder of a 5-year lease, from 2020. The current rent is £12,000 per annum. We are advised that the landlord will consider granting a new 5-year lease to incoming tenants. Full details are available upon request.

Location:

No. 1 Polsloe is prominently situated on a busy intersection of one of the main arterial roads leading into Exeter city centre. The business is located within a mile of Exeter High Street in an area that is characterised by independent retailers and is a popular trading location benefitting from surrounding residential areas with extensive student accommodation. The premises also boast a visible presence for passing trade. Exeter itself is the regional capital for the Southwest and as such, is an established and expanding business centre, but also a popular tourist destination renowned for its historic cathedral, university and waterside developments. Exeter boasts excellent transport communications with 2 mainline rail links to London, an international airport and easy access to the M5 motorway at junction 30.

Premises Details:

No.1 Polsloe is a popular and well-regarded licensed, daytime only, café and coffee shop operating on deliberately restricted opening hours and just 4 days a week. Occupying a prominent and highly visible landmark trading position and being well presented throughout, the business offers potential for incoming operators to purchase an attractive and sought after easy to run catering business with an excellent reputation. No.1 Polsloe also offers potential for incoming operators to develop their own style of trade to suit their own requirements. The ground floor lockup premises are purposefully fitted and equipped and briefly comprise: - Main Café Area comfortably seating 30 customers; Private Forecourt Seating Area providing Al Fresco Seating for 12 customers; Customer Servery with Preparation Kitchen Area to the rear. The sale of No.1 Polsloe presents a unique opportunity to purchase a well-established and well-regarded catering business with impressive levels of trade and profits and genuine potential to increase all aspects of the trade still further

Business Operation

Trading hours:

9am until 3.30pm on Wednesday, Thursday and Friday; 9.30am until 3.30pm on Saturday. The business is closed on Sunday, Monday and Tuesday.

Employees:
The business is run by our client a single working proprietor, with the assistance of part time and casual staff as and when trade levels dictate.

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