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SOLD OR WITHDRAWN FROM THE MARKET
Advert pending deletion

Tea Rooms in an Idyllic Location

Norwich, Norfolk
Leasehold Price:
£18,000
Find more details, or book a viewing:
Status
SOLD / WITHDRAWN
Advert ID
242290
Reference
B05193 / Rightbiz

Details

Business
Hilton Smythe welcomes to the market The Tea House, which serves over 50 speciality teas, coffee, homemade cakes, sandwiches, jacket potatoes etc. The Tea House offers afternoon tea, has a gluten free menu, vegan menu and offers vouchers for loved ones

The business is consistently in the top 3 on TripAdvisor with 299 reviews and is being sold with the website www.theteahousenorwich.co.uk

There are many reasons to buy

City centre location

Low outgoings

Peaceful surroundings

High footfall to the city

There is scope for development

Introduce tea tasting experiences

Have open events for book groups, knitting associations etc

Introduce a social media page, i.e. Facebook for further promotion

Hilton Smythe highly advise early viewing to avoid disappointment.

Location
The Tea House is located in the Cathedral Quarter of the city centre of Norwich, close to the River Wensum and Norwich Cathedral. Norwich is a thriving city and considered the capital of East Anglia with circa 141,300 residents and many more workers and visitors coming to the city.

Our client took over ownership of The Tea House in 2014, which has been a tea room for many years previous to that. Due to family reasons our client is now looking to sell the business.

The Tea House is located in a courtyard off a cobbled street in the city centre within a Grade II listed building, this gives a peaceful setting with privacy and seclusion away from the hustle and bustle of the city itself, hence their slogan “Peace & Quiet in the city”.



Premises
To the courtyard to the front of the shop there is an area giving seating for 6 across 3 bistro tables

The Tea House has seating across 2 rooms for 18 – 20. In the main room is the servery area with cake stands, drinks chiller, sink, microwave, work surfaces, storage units, display shelving for teas, coffee machine and grinder.

Off the second room is the staff/customer toilet and there is a door to the rear to the rear courtyard area which has further bistro style tables giving seating for 10 – 12 customers

Tenure
We are advised the business is being sold as a leasehold business opportunity with a 6 year lease from May 2014 and an annual rent of £4,200

Our clients inform us that they do not pay business rates.

We have been informed that the landlord is flexible about renewing the lease.

Our client currently rents a parking space at £80 per month

Hours
Monday - Friday: 10am -4.30pm
Saturday: 9.30am – 5.30pm
Sunday: Closed
Due to the reasons behind the sale, our client has not opened all of these hours over the last year or so, as they have closed early or only opened 5 days a week.




Staff
The business is run and managed by our client, with the help of 2 part time members of staff

Financial Profile
The Tea House generated an advised turnover of £30,819 as of the 2018 accounts, with a gross profit of £23,041 and a net profit of £9,968

The assets being sold with the business are worth in the region of £3,000

The average stock level is circa £500

 In the years 2016 & 2017 the turnover was £38,804 & £39,170 respectively. The net profit for those years were £12,197 and £15,103.

Due to the reasons of the sale our client has not opened fully over the last year

Seller Details
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Listing Details
Leasehold Price: £18,000
Tenure: Leasehold
Sector: Tea Rooms
Financials
Annual Turnover: £30,819
Location Statistics
What's nearbyi:
Tickles (approx. 0 mile)
Aldridge Lansdell (approx. 0 mile)
Travel by Gavin (approx. 0 mile)
The Cock Bridge (approx. 0.3 mile)
The Oak, the Lost in Translation Circus Centre (approx. 0.3 mile)
Saint Michaels Coslany Church (approx. 0.3 mile)
Ihsan Mosque and Islamic Centre (approx. 0.4 mile)
Gildencroft Park (approx. 0.5 mile)
Saint Augustine's (approx. 0.5 mile)
Mr. Smith’s Barbershop (approx. 0.5 mile)
Listing Statistics
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