Established Fish & Chip Shop Business in Somerset, Includes 2 Bedroom Flat, 999 Year Lease
Minehead, Somerset
- Status
FOR SALE
- Date Submitted:
30/03/23
- Advert ID
510904
- Reference
BP.00702wz / Rightbiz
- Call Agent:
- Freehold: £300,000 (Stock at valuation)
- Turnover: £150,000 (£2,885 Per week)
- Net Profit: £37,000 (25% Profit margin)
Key Features
- Potential for Alternative Use
- Close to Local Amenities
- Accounts Available
- Small Business
- Retirement Sale
- Price Reduced
- Fully Fitted
- Established Business
Business Details
Go To Established Fish & Chip Shop Business, 2 Bed Flat Attached, Alcombe, Minehead
Having reached retirement age and enjoyed the trappings of this fantastic business and the lifestyle it has provided, our client is looking for new owners to enjoy this 100 year old Fish & Chip shop business that is situated in the popular and desirable village of Alcombe on the outskirts of Minehead, a busy resort town in West Somerset.
999 Year Lease (Virtual Freehold) (peppercorn annual charges)
EPC Rated - D
Ground Floor Building Only - Character property briefly comprising traditional chip shop (circa 700 sqft) with main reception, ancillary areas, prep, storage rooms, and outbuildings, fully fitted and equipped including a pristine commercial range burner. Attached 2 bedroom flat (No.1 Alcombe Hall, circa 600 sqft) with lounge-dining room, kitchen, bathroom, 2 bedrooms. (currently let on assured short-hold tenancy at £700 pcm. vacant possession if required) Easy accessible trading location in a densely populated residential area, Free parking bays to the front, with further on road parking to the surrounds.
Offered as a going concern with excellent historic financials and accounts, the business benefits a consistent annual turnover of £150,000 pa. with a gross profit circa £80,000. Headline numbers for the most recent financial year ended 2023 show: Operating Profit £28,000 - Adjusted Net Profit £37,500 pa. (currently trading 5 days per week, on a 21:00 close, 11 months per annum, with a seasonal boost) (1 month annual leave taken by proprietors every January)
Operated by a husband wife team with 2 part time staff, the business is acknowledged as being the go-to fish and chip shop in the local area. Huge scope and growth remains, and or potential to create an investment income.
Accounting information will be made available to seriously interested parties, further to a formal viewing.
Contact Agent
Listing Statistics
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
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