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Well Established and Well regarded Traditional Licensed Cafe and Tea Garden

Tiverton, Devon
Leasehold Price:
£69,995
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
226466
Reference
2081 / Rightbiz

Details

THE PROPERTY
Mad Hatters is set within a substantial Grade II Listed building and is presented to a high standard throughout, having been owned and operated by our clients for over 11 years and is for sale due to impending retirement. Mad Hatters is ideally situated with an entrance off Fore Street, the main shopping high street containing many well known national retailers and is therefore well placed to take full advantage of the high footfall immediately outside. A separate entrance from the rear leads from the town centre short stay car park. This traditional style licensed cafe and tea gardens briefly comprises:- Main Restaurant seating area comfortably seating 48 customers, well equipped Customer Servery Area, attractive south facing private Tea Garden to the rear comfortably seating 40 customers, comprehensively equipped Commercial Catering Kitchen with Separate Preparation/Washup Room. The business is enhanced by the well presented and spacious family sized living accommodation with 3 Double Bedrooms, large Sitting Room, fully fitted Private Kitchen and Shower Room. Mad Hatters enjoys a fine reputation with locals and visitors alike and a viewing is strongly recommended in order to fully appreciate all that this impressive and flexible business and property has to offer. 

SITUATION
Mad Hatters occupies a prime town centre trading position in the very heart of the thriving year round market town of Tiverton in Devon. The main entrance in Fore Street is adjacent to Boots and the property can also be accessed from a short stay public car park at the rear. Tiverton is an historic Mid Devon market town with a resident population of around 17,500 people and the town offers a good range of modern facilities and amenities. Located in the beautiful Exe Valley, the town offers excellent transport links with a main rail link to London and easy access to the M5 motorway (5 miles), and the Cathedral City of Exeter (14 miles) with its international airport. 
 
INTERNAL DETAILS
Customer entrance door to the front and rear leading into Main Cafe Restaurant Area a traditional style room with part wood panelled walls, exposed timbers, wall mounted menu boards, carpeted flooring, ceiling fans and a range of free standing tables and chairs comfortably seating 48 customers. Substantial Customer Servery with Preparation Area to the rear, glass fronted refrigerated serve over display counter, service counter with electronic cash register and printer link to kitchen, Altro flooring, open shelving, refrigerated dessert fridge, dumb waiter to first floor kitchen, wall mounted display menu boards, hand basin, Staf’co cappuccino/coffee machine, coffee grinder, bean to cup coffee grinder, glass fronted bottle fridge, stainless steel sink unit, glasswasher, toaster, blender, under counter fridge and under counter freezer. Ladies & Gents WCs on the first floor. Commercial Catering Kitchen on the first floor with Altro flooring, part tiled and stainless steel clad walls, extractor system with stainless steel canopy over, 4-burner gas range, floor standing deep fat fryer, table top deep fat fryer, flat topped griddle, eye level grill, stainless steel workbenches with shelving below, chest freezer, 3 commercial microwave ovens, wall shelving, bain-marie, 2 under counter fridges, 2-door commercial under counter  fridge, warming cabinet, lit serving gantry, toaster,  2-door commercial under counter fridges with saladette over, panini press. Washup/Preparation Room on the first floor with Altro flooring and part tiled walls, upright freezer, chest freezer, upright fridge, fridge/freezer, washing machine, tumble dryer, commercial dishwasher, electric oven, perimeter worksurfaces, 2 stainless steel sink units, stainless steel workbench with shelving below and stainless steel racked shelving. 

REAR GARDEN
Steps down from the main restaurant into a level paved and gravelled Courtyard Tea Garden Area with patios and terraces and raised flowerbed borders comfortably seating 40 customers with a Car Parking Space.  Beyond this is a pergola with fence and gates that gives access to the main public short stay car park in the town centre and a bin store area. 

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.

LIVING ACCOMMODATION
Situated on the second floor and a real feature of this business is the impressive and flexible spacious family sized owners accommodation which has been the subject of comprehensive modernisation by our clients. This high quality owners apartment briefly comprises: - Sitting Room an impressive large welcoming space with high ceiling, feature fireplace and aspect to the front. Kitchen an attractive and modern fully fitted kitchen with range of modern base and wall mounted kitchen units and complimentary wooden work surfaces, inset Belfast sink, built in electric hob, double oven, dishwasher and extraction unit. Bedroom 1 a spacious double room with high ceilings and aspect to front. Utility Cupboard/Store. Store Room/Walk In Wardrobe. Shower Room/WC. Bedroom 2 a good sized double bedroom with aspect to the rear and original feature cast iron fireplace (disused).  Bedroom 3 a double bedroom with aspect to the rear.  


THE BUSINESS
Mad Hatters is a traditional licensed cafe which benefits from an attractive south facing tea garden to the rear and has been established for over 25 years. Operated with part time assistants and on deliberately restricted day time only hours to suit our client’s lifestyle choice, the business caters for a loyal regular year round clientele together with tourists visiting Tiverton. Mad Hatters takes advantage of having an entrance on Fore Street as well as being adjacent to Tiverton Museum and the main town centre short stay carpark with direct access to the tea garden. Mad Hatters offers a traditional and popular menu to include breakfasts, morning coffees, lunches, cream teas, hot, cold and alcoholic beverages and daily specials. 

There is also a takeway service for food and drink. The business has been owned and run by our clients, a husband and wife partnership for over 11 years and is offered for sale due to their impending retirement.  The current opening hours are between 9.30am and 3.00pm Monday – Thursday. 9.00am and 3pm Friday and Saturday. The business is closed all day on Sunday. The business has a website www.madhatterrestaurant.co.uk which provides further background and menus and is included within the sale. The business also benefits from a 5 star food hygiene rating. Mad Hatters is undoubtedly a very special place to live and work and a formal viewing is essential in order to fully appreciate all that this business and property has to offer. For anyone looking to relocate to the West Country, this could be the perfect opportunity to run a profitable catering business, with a comfortable family sized home. 

TRADING INFORMATION
We are advised that annual sales of circa £120,000 including VAT are being achieved. It should be noted that our clients close for at least 4 weeks holiday annually each year and the current opening hours have been deliberately restricted in order to fit in with their lifestyle requirements. Further detailed trading information can be made available to interested parties following a formal viewing appointment. 

CURRENT STAFFING
The business is run by our clients, a husband and wife partnership, with up to 5 part-time members of staff being employed. 

EPC
Listed property and therefore exempt. 

POTENTIAL 
The sale of Mad Hatters provides and excellent opportunity to purchase a thriving, profitable and well regarded cafe business with impressive family sized owners accommodation within a sought after Mid Devon town. Our clients advise that there is tremendous potential to increase the current trade levels, particularly by increasing the opening hours and opening to into the evening and also offering a Sunday brunch/lunch service for which undoubted demand exists. There is also potential for incoming operators to develop their own style of cuisine and trade in a manner to suit their own personal requirements. The sale of Mad Hatters represents a rare opportunity to purchase a licensed cafe and tea gardens combined with impressive owner’s accommodation, the like of which rarely comes along with a business of this nature. 

RATING
For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office Website www.voa.gov.uk

SERVICES
All mains services are connected to the subject property.

PRICE & TENURE
£69,995 for the valuable leasehold interest as a going concern business and full trade inventory.  Wet and dry stocks to be additional at valuation.  Vacant possession upon completion. 

We are advised that the business is held on a 20 year lease to the 7th October 2027 with a current rent of £12,500 per annum. Further details are available upon request. 

VIEWINGS
Strictly by appointment with the vendors Sole Selling Agents.Tel:(01392)201262.Email:info@stonesmith.co.uk
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
 

Seller Details
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Listing Details
Leasehold Price: £69,995
Tenure: Leasehold
Location: Tiverton, Devon
Sector: Cafes, Tea Rooms
Financials
Annual Turnover: £120,000
Annual Net Profit: Available upon request
Key Features
  • Close to Local Amenities
  • With Accommodation
  • Town Centre location
  • Accounts Available
  • Established Business
  • Trade Gardens Available
  • Prime Location
Location Statistics
What's nearbyi:
Let's Do This One (approx. 0 mile)
The Great British Takeaway (approx. 0 mile)
Cashpoint (approx. 0 mile)
West Exe South (approx. 0 mile)
Hewitt & Son Ltd (approx. 0 mile)
Ali Baba's Takeaway (approx. 0 mile)
Exe Valley Angling (approx. 0 mile)
West Exe South (approx. 0 mile)
Hearing Aids South West (approx. 0 mile)
Cosway Soft Furnishings (approx. 0 mile)
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