Headline: Top Vintage Tea Room in Bungay Suffolk for Sale - New Lease & Event Opportunities
Bungay, Suffolk
- Status
FOR SALE
- Date Submitted:
24/04/23
- Advert ID
512116
- Reference
B07308 / Rightbiz
- Call Agent:
- Leasehold: £39,995
- Turnover: £78,000 (£1,500 Per week)
- Net Profit: Not Applicable
Business Details
Highly rated vintage Tea Room business for sale
BusinessPlease quote reference B07308
CoGoGo are delighted to welcome to the market The Old Bank, a highly rated tea room in Bungay, Suffolk.
The business was first established in 2013, with our client taking over in 2020. The business is extremely popular within the local area, building up an excellent reputation and regular customer base.
The Old Bank has now come to the open market due to our clients desire to pursue other business interests.
There are many repeat local customers and also others that travel from across Suffolk and Norfolk and beyond.
The tearoom is fully licensed for the sale of alcoholic beverages and is available for exclusive hire as a venue for parties and events.
Key selling points -
- Very prominent trading location
- New lease in place
- Opportunity to add an evening bistro/restaurant
- Run to suit – opportunity to reduce current running costs
- Recently refurbished
- New kitchen installed
- Website & social media sites included
- Excellent reputation
- Extend current opening hours
- Add evening bistro menu
- Reduce current running costs
- Promote private parties/hen party & birthdays
Location
The Old Bank is located on Market Place, in the heart of Bungay, Suffolk.
The business has eye catching signage and receives high levels of footfall and passing trade.
Premises
Business housed within a prominent period building – previously the HSBC Bank
Ground floor -
- Open plan dining space with original height ceilings – 8 tables allowing 28 comfortable seating
- Service counter
- Newy fitted kitchen
- Storage area
- Toilet facilities
Tenure
We are advised that the business is being sold on a Leasehold basis, currently on a 3 year lease. The rent is £650 per month.
Hours
The current trading hours are -
Monday - Closed
Tuesday – 10:00am to 4:00pm
Wednesday – 10:00am to 4:00pm
Thursday – 10:00am to 4:00pm
Friday – 10:00am to 4:00pm
Saturday – 10:00am to 4:00pm
Sunday - Closed
Staff
We are advised that the business has 1 fill time and 2 part time members of staff.
Financial Profile
We are advised that the business generates a turnover in the region of £78,000. Further financials can be made available upon request.
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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