£0 £1000000
£0 £1000000

46 Cover Tea Room Next To Train Station

Wanstead, Redbridge

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Sold

£74,995 +SAV

Ref: 13503 J

Leasehold

Overview

Hilton Smythe welcomes to the market Time for Tea. The tea room was established in this location by our clients in 2012. The owners are now looking to sell the business, due to the desire to focus on other commitments. The business runs as a vintage tea room and coffee shop, in a great trading location just seconds away from the local train station. This eatery offers an exceptional range of delicious light bites, sandwiches, breakfasts, salads, quiches, jacket potatoes as well as a varied range of teas and herbal beverages. The tea room also promote local artists work who display and sell their products. The tea room is a perfect place to host events. Our clients see a generous amount of trade from hen gatherings, lady's lunches, mothers, knitting groups, as well as day to day trade to the local law courts and schools. Although there is a generous amount of trade generated from business customers and commenters. Time for Tea is also very popular with dog owners as this is the only tea room in the area to welcome dogs. Time for Tea generated a turnover in the region of £111,000 as of the 2016 accounts, with a gross profit of 58%. Our clients have put a lot of time money and effort making this tea room a success. In the past few years, £30,000 has been spent to bring the tea room to its high standard and recently received a full refit with new equipment and decor. This is a ready to run business perfect for a husband and wife team or partnership. We feel that the purchaser could consider other options to increase the turnover. Opening later in to the evenings and offering deliveries could allow for extra income. The business already has social media pages and a website. This is great for advertising and marketing the tea room. Time for Tea also boasts excellent reviews on the travel website TripAdvisor. This is a fantastic opportunity that is not to be missed. Hilton Smythe highly advise early viewing to take in the full potential of the trade.

Turnover
The business generated a turnover in the region of £111,000 as of the 2016 accounts, with a gross profit of 58%. Our clients have recently spent £30,000 on improvements, this includes new equipment and décor.

The business is run and managed by our clients, with the help of one part time member of staff and two weekend staff members.

The business opening hours: - Monday - Friday: 8:45am – 5pmSaturday & Sunday: 10am – 4pm

Time for Tea is located in Wanstead, Redbridge. The tea room is situated on a retail parade, in a prime trading location. There is a plethora of retail outlets in the area, this includes restaurants, a beauty salon, dry cleaners and much more. This is a raised parade that leads up to the Snaresbrook railway station. Steps lead off the parade down to on street parking. Due to the train station being just seconds away, the area benefits from heavy footfall. Wanstead is a borough in the Redbridge area of London. This is a built up suburban location with a population of circa 11,500, as of the 2011 census. Wanstead is an easy commute into central London using the public transport links and is approximately 12.5 miles away. The road on which the business is located is one of the main high streets in Wanstead. This road connects to the A12, an arterial road that runs into London and heads north east to Ipswich.

Time for Tea is situated on a raised retail parade of stores. The property is well-presented and has a canopy covering the external 4 covers. There are three windows, this allows for a bright interior. On entry is the large well-presented open plan seating area. The room is bright with generous lighting and light coloured walls. The curved service counter is facing the entrance to welcome customers. There are 14 covers in this section of the tea room. Behind the counter is a preparation area, with coffee machine and other drink making facilities. To the back of the counter is a door that leads into the kitchen. This is fully-equipped and is perfect for the trade. To the rear of the room are two steps leading up to a further seating area. This space has 14 more covers and has a door that leads to an outside seating area. There is a generous sized patio area at the back of the property, there are again a further 14 covers, this is very popular in the warmer summer months. There is a secure vermin proof bread store for out of hours’ deliveries. To the very back of the property is a staff parking space. Equipment included in the sale includes: -Glass topped ice cream freezerTill and pdq machineUnder counter double glass front drinks fridgeMilkshake machineTwo arm semi auto coffee machine and grinder (leased)Hot water boilerUnder counter fridgeUnder counter freezerUpright fridge/freezerCommercial microwaveFood blenderElectric double oven and hobDualit toasterChurchills cutleryJugsVintage crockeryCake stands There are customer toilets to the rear.

Tenure
We are advised the business is being sold as a Leasehold opportunity. Original lease length: 5 yearsRemaining lease length: 3 years as of 2017. Rent: £20,000 per annum

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