Award Winning Tea Room
- Asking Price: £270,000 +SAV
The business generates an estimated advised turnover of £527,520 per annum with £TBC gross profit and £112,659 adjusted net profit.
Assets = £15,000
SAV = £2,500
The business is owned by a limited company and so it is anticipated that this sale will be of way of a share sale of 100% of the issued capital of the company. On or before completion the vendor will have withdrawn all cash from the company and paid off all bank debts and any money to HMRC, but not any trade creditors. The quoted sale price does not include stock.
- Tenure: Leasehold
Hilton Smythe welcomes to the market this thriving Tearoom.
The business is an award winning A3 Licenced premises.
The business is the only traditional English tea-room in Canterbury, offering a relaxing and luxurious atmosphere. All of their food is freshly prepared from scratch and include no preservatives or additives and sourced as much as they can from local producers and suppliers, they also offer an array of teas, coffees, Kentish wine, beer and a selection of Kent’s award winning sparkling wines!.
The business has a loyal customer base from regular locals and due to their excellent location they also attract a large number of tourists.
The business boasts fantastic reviews on social sites such as:
4.5 stars out of 5 - 230 Google Reviews
4 stars out of 5 - 894 Tripadvisor Reviews
4.6 stars out of 5 - 172 Facebook Reviews
The current owner is now looking to sell due to pursuing other business ventures.
Scope to Improve; New advertising and marketing campaign, maximise the use of social media, explore online discounters such as Wowcher and Groupon, create loyalty scheme, can add longer opening hours – evening trade, franchising, event catering, expand e-commerce offering.
The business is managed by the owner along with a mixture of full and part time staff.
Monday – Saturday 9.30AM to 5.00PM
Sunday – Closed (Previously open but closed since July ’18 due to ill health)
Currently closes at beginning of January for 2 weeks every year.
This award winning Tearoom’s is located in Canterbury, the premises is situated on a busy pedestrian area which is a hive of activity throughout the day with tourists and local residents.
Canterbury is a historic English cathedral city and UNESCO World Heritage Site, situated in the heart of the City of Canterbury, a local government district of Kent which lies on the River Stour.
Canterbury is a popular tourist destination: consistently one of the most-visited cities in the UK, the city's economy is made up with a great mix of tourists, students and locals visiting the tearoom at different times of the year meaning great trade all year round. Many historical structures fill the area, including a city wall founded in Roman times and rebuilt in the 14th century. There is also a substantial student population, brought about by the presence of the University of Kent, Canterbury Christ Church University, the University for the Creative Arts, and the Girne American University Canterbury campus.
The area has excellent public transport links with a Southeastern service calling at stations such as Faversham, Ashford International and London destinations including London Victoria and Charing Cross.
The business is arranged over 3 floors of a grade 2 listed mid terraced property which was been refurbished in 2007 and now provides an excellent restaurant area over the ground and first floors.
As you enter the premises you are greeted with an opulent feel with chandelier lit rooms the tearoom is open plan in design and provides a total of 64 internal covers.
To the left of the entrance is the counter which houses a selection of cakes, the coffee machine and the till system. To the right and back of the tearoom is seating for customers this leads to the rear exit which takes you to the outside seating area and offers an additional 12 seats in warmer months.
The first flight of stairs leads to extra seating for customers and the kitchen area, the second flight of stairs leads to the staff area, office, customer toilets. and additional room.
• Till system,
• Coffee machine,
• Cake display,
• Tables and chairs.
Kitchen – Passthrough dishwasher, glasswasher, fridges, freezers, ovens.
We are advised that the business is being offered as a leasehold opportunity with the current lease expiring April 2019.
The rent is £50,000 followed by a new 10 year lease with the rent set at £53,000, fixed for the first 5 years.
Current rates payable is £22,176 per year.