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Licensed Cafe & Bistro Occupying a Prime Trading Position For Sale

Budleigh Salterton, Devon
Freehold Price:
£475,000
Status
FOR SALE
Advert ID
253397
Reference
2108 / Rightbiz

THE PROPERTY
A Slice of Lyme is a thriving and extremely well regarded licensed cafe and bistro, located close to the seafront and beach within a virtually detached property. This extremely profitable catering business has been owned and run by our clients for over 14 years and briefly comprises: - Two Customer Seating Areas comfortably seating 34, Ice-cream/Takeaway Hatch with Servery, fully equipped Commercial Catering Kitchen with Ancillary and Welfare Facilities. The business is enhanced by the flexible Private Living Accommodation on the first floor with 2 Bedrooms, Sitting Room and Family Bathroom. The property also benefits from a Single Garage with Storage Space. A Slice of Lyme is a highly regarded licensed cafe and bistro and a viewing is strongly recommended in order to fully appreciate all aspects of this flexible business and property close to the seafront within this highly sought after East Devon coastal town. 

SITUATION
A Slice of Lyme occupies a lucrative and prime trading position close to the main high street and within 50 metres of the seafront and beach within the centre of the much sought after and highly regarded popular coastal resort town of Budleigh Salterton. Budleigh Salterton is an extremely affluent town situated on the East Devon Jurassic coast, in an area officially designated as a World Heritage Site by UNESCO. With a resident population in excess of 5,000, which is boosted considerably by visitors to the town throughout the year, particularly during the busy summer months, Budleigh Salterton also draws trade from the many nearby coastal and country villages, hamlets and towns. The business occupies a prime trading position within sight of both the seafront and the highstreet within the town centre of this delightful and popular coastal resort town which is situated in an area much renowned for its picturesque countryside, coves and beaches. The town is situated around 12 miles from the cathedral city of Exeter with its easy access to the M5 motorway, intercity rail links and international airport. Budleigh Salterton is a particularly unspoilt traditional coastal resort town. The sale of A Slice of Lyme represents a unique opportunity to purchase a busy and well regarded business with impressive levels of trade and profits and with genuine potential for further growth and development. 

INTERNAL DETAILS
Glazed entrance door to front leading into Entrance Hall into left hand Dining Room a character room with Karndean wood effect flooring, feature fireplace with inset electric fire, feature lighting, wall mounted menu boards, range of freestanding wooden tables, upholstered wooden chairs and upholstered bench seating comfortably for 18 customers. Right hand Dining Room again another character room with Karndean wood effect flooring, wall mounted menu boards, feature lighting, range of freestanding wooden tables, upholstered chairs and upholstered window seat comfortably for 14 customers. Ladies & Gents WC's. Ice-cream/Takeaway Window Hatch and Servery Area with Altro flooring, ice-cream freezer (free loan), double glass fronted bottle fridge, wall shelving, and undercounter shelved storage. Commercial Kitchen with Altro flooring, part wipe clean clad, part tiled and part stainless steel clad walls, fitted with a range of commercial catering equipment to include: extractor system with stainless steel canopy over, six burner gas range, twin table top deep fat fryer, single glass fronted bottle fridge, commercial grill, stainless steel work benches with shelving below, twin deep bowl stainless steel sink unit, stainless steel handbasin, commercial dishwasher, extensive wall shelving, fridge freezer, three microwave ovens, three door undercounter commercial fridge unit with saladette over, panini grill, toaster, electric cash register, filter coffee machine, L'anna commercial coffee machine, two chest freezers, undercounter fridge, two upright freezers, one upright fridge, coffee grinder and door to side. 
      
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.


PRIVATE ACCOMMODATION
Situated on the first floor is the flexible private owner's accommodation which briefly comprises, Large Sitting Room/Double Bedroom with aspect to the front and bay windows with a sea view, open plan through into Office Area with aspect to the front. Further Sitting Room with aspect to the front and Kitchenette Area with built in electric hob, undercounter fridge, undercounter freezer, washing machine, wall mounted kitchen cupboards and combi oven and grill. Bathroom with corner bath and electric shower over. Double Bedroom with aspect to the front. 

EXTERNAL DETAILS
To the rear of the property is a Single Garage with additional Storage Area and roller shutter door. 
THE BUSINESS
A Slice of Lyme is a busy and well regarded licensed cafe and bistro which has been owned and run by our clients for over 14 years. Well presented throughout, the business boasts impressive levels of trade and exceptionally strong profits and benefits from a lucrative and prominent trading position close to both the high street and the sea front. Our clients trade the business as a day time licensed cafe offering a bistro style lunch time and evening menu. The business also benefits from a popular and lucrative takeaway trade with a dedicated ice cream and takeaway servery window within sight of the seafront. The popular menu ranges from breakfasts, hot and cold alcoholic and non-alcoholic drinks, morning coffees, light bites, main course lunches, afternoon teas with a selection of cakes and an evening bistro menu with daily changing specials. The emphasis is on quality, freshly prepared homemade dishes using the best possible locally sourced produce and this attention to detail ensures that the business enjoys excellent levels of year round regular trade and an excellent local following, not only from Budleigh Salterton, but also the surrounding towns and villages, together with a seasonal boost during the busy summer months. The business benefits from numerous excellent reviews on TripAdvisor and further benefits from a TripAdvisor Certificate of Excellence. The business has its own website   which provides further background information and menus. 

TRADING INFORMATION
Accounts for the year ending 31st January 2019 show sales of £212,398 producing an extremely impressive net profit in excess of £70,000. Full detailed trading information can be made available to interested parties following a formal viewing appointment. 

OPENING HOURS
The business trades from 10am until 2.30pm on Mondays; 10am until 2.30pm and 6pm until 9pm, Tuesday to Friday; from 10am until 4pm and 6pm until 9pm on Saturdays; and from mid-day until 4pm on Sundays. The business is closed on Sunday and Monday evenings. 

CURRENT STAFFING
The business is run by our clients, a husband and wife partnership, with the assistance of up to 10 part time/casual members of staff, as and when trade dictates. Full details available upon request. 

POTENTIAL
Our clients advise there is potential to increase the current trade levels with undoubted opportunities for further marketing and advertising initiatives including developing a social media presence. There are also opportunities to extend the current opening hours, especially during the busy holiday periods. There is also the potential for incoming operators to develop their own style of cuisine and trade in a manner to suit their own personal requirements and take advantage of this established business in a prominent trading position. 
There are opportunities to reconfigure the owner's accommodation to suit individual requirements. A Slice of Lyme represents a unique opportunity to purchase an extremely lucrative freehold business with a well-established trade in a stunning and much sought after honey pot trading location within a stone's throw of the seafront. Our clients are prepared to offer a full handover and training to interested parties, should they require it. The sale of A Slice of Lyme represents a rare opportunity to acquire a freehold licensed catering business in a most sought after and desirable resort town with impressive levels of year round trade and strong profits. An early appointment to view is recommended in order to fully appreciate all that this quality catering business has to offer. 

EPC
Requested and to be confirmed. 

RATING
For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website  

SERVICES
All mains services are connected to the subject property. 

PRICE & TENURE
£475,000 for the valuable freehold interest as a going concern business and full trade inventory. Stock to be additional at valuation.  Vacant possession upon completion. 

VIEWINGS
Strictly by appointment with the vendors Sole Selling Agents.Tel: .Email: 
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.

Listing Details
Freehold Price: £475,000
Tenure: Freehold
Location: Budleigh Salterton, Devon
Sector: Bistros, Cafes, Restaurants
Financials
Annual Turnover: £212,398
Annual Net Profit: £70,000
Key Features
  • With Accommodation
  • Accounts Available
  • Prime Location
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Advert Reference: 2108 / Rightbiz
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