Archived
Charming And Well Presented Independent Cafe
Eastbourne, East Sussex
- Asking Price: £34,995 +SAV
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Turnover:
The business is run to suit achieving around £1,500 per week in low season and £2,000 + in high season. The 2018/2019 accounts will show a turnover of £76,496, gross profit of £47,172 and adjusted net profit of £15,524 on part time opening hours only.
Please quote reference B05656
- Tenure: Leasehold
Please quote reference B05656
Hilton Smythe are delighted to present one of Eastbourne’s most charming and extremely well-presented independent cafe/ tea rooms to the one market, established as a tearoom over 7 years ago.
A complete transformation was carried out by our clients over 2 years ago who are now very reluctantly choosing to sell due to ill health. They have invested upwards of £50,000 in upgrading the period cafe, allowing any new owner the ability to walk straight in and carry on trading.
Our clients have advised that due to ill health of both partners the business has only been open around 35-40% of the available time however the Turnover as of the 2018-2019 accounts show a healthy figure approaching the VAT level.
The new improved menu offers -
- Breakfasts, panini’s, cakes, pastries, pies and sausage rolls
- Freshly made hot, cold sandwiches (including their renowned ‘door stop’ sandwiches), baguettes, wrap or bap including excellent burgers, salads and specials
- Large choice of vegan, gluten free and vegetarian menu options - includes vegan cupcakes, sliced cakes, sausage rolls, veggie breakfasts, burgers and milkshakes
- ‘Bean to cup’ barista made coffees, teas, shakes, smoothies, juices and waters
The cafes reputation and ambience has spread quickly, they are -
- 5 stars rated on Trip Advisor
- 5 stars rated on Facebook
- A recommended vegan and gluten free cafe
- Only ‘non prom’ cafe to be chosen to serve ‘Marshfield’s’ ice cream
- Only cafe to be housed in an old Midland Bank
- Opening longer hours including evenings and Mondays, open for early breakfast trade 7-9
- Extending the menu to include more evening meal choices
- Offering set menu choices for coach party groups
- Hiring out the unique cafe space for private parties and birthdays
- Applying for an A3 licence, alcohol licence
- Increasing local advertising, social media advertising and website presence
- Adding food deliveries through any of the delivery apps available
The business is currently run by our clients only with some ad hoc help at weekends when required.
Currently open to suit our clients -
High Season - 10am - 5/6pm x 6 days (Monday closed)
Low season - 10am - 4pm - 6 days (Monday closed)
Opportunity for both early breakfasts to go trade and evening cafe menu trade
Rumours Cafe occupies a highly enviable trading position along Terminus Road in Eastbourne, East Sussex.
Terminus Road is one of the busiest link roads from the Grand parade into the centre of Eastbourne’s Town Centre and as a result, footfall is high throughout the year.
The council owned buildings on Terminus road are undergoing a complete facelift and by the end of this year all building works should be complete.
Eastbourne is a renowned resort then in the Southeast coast, famous for its Victorian hotel, the 19th century pies and 1930s bandstand, Townes art gallery and Redoubt fortress. It has undergone significant regeneration in recent years including million-pound investments in its theatres, leisure facilities, universities and language schools, new housing developments and new shopping mall located next door to the main station.
Eastbourne is accessed just off the A259 which connect visitors along the coastline to Brighton (22 miles west) and up to the A22 and A27 which allow direct access to both Kent and East Sussex.
Nearest mainline station is Eastbourne central (just 5 minutes’ walk), improved services allow commuters to reach the centre of London in just over 1.5 hours with nearly 40 trains leaving each day.
External - 2 x tables and 4 x chairs (permitted licence in place with 2 years remaining)
Internal - ** main walls painted in vintage grey colour
Period features include - Victorian black and white tiled floor, very large glass chandelier and wall fittings, original midland bank safe door, original high ceilings with cornicing, feature pendant lighting.
Selection of small and large solid wood tables, offering a minimum of 22 covers, glass fronted drinks chiller, floor standing fridge, cutlery stand, free on loan ice cream display freezer.
Secure stockroom - old bank safe - fully shelved room.
Customer toilet.
Service counter - curved unit with solid wooden beach top and under counter storage shelving, double glass fronted chiller, 2 x drinks blenders, wall mounted shelving, till and card machine, large wall mounted blackboard menu, freezer, ice cream mixer, microwave, prep counter space and further storage
Kitchen - includes panini grill, jacket potato oven, buffalo griddle, 2 x fan ovens, space for dishwasher, 2 x lincat grills, hot water urn, stainless steel sink unit, hand wash sink, 2 x large rear windows, 2 x undercounter fridges, 1 x upright freezer, separate white topped prep bench, microwave, toaster.
Free Wi -Fi throughout
CCTV x 4 cameras
Premises are circa 86sqm.
Tenure
We are advised the business is being sold as a Leasehold with 3 years remaining on a 5-year council lease (which can be extended if any new owner requires) paying just £15,000 per year. The business benefits from full small business relief paying 0 rates in the current year.
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Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83
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