FOR SALE
625109
Bagel Basket / Rightbiz
The Bagel Basket
25/31 Main Street, Largs, KA30 8AE
· Long established and award winning café & takeaway
· Prominent Main Street trading position within popular seaside town
· Close to seafront and CalMac ferry terminal
· Circa 62 covers plus pavement seating terrace (20)
· 2024 sales £407,658 net of vat, with 73% gross profit margin
· Adjusted net profit in excess of £100,000 p.a.
· Daytime trading only. Offers further growth potential
LOCATION
The subjects benefit from an extremely prominent trading position on Main Street, which forms part of the well-travelled A78 coastal route, and is the main thoroughfare within the popular coastal town of Largs, which lies on the Firth of Clyde in North Ayrshire.
The subjects are positioned in the heart of the town, and are a stone’s throw from the beachfront, as well as from the Caledonian MacBrayne ferry terminal, with regular crossings to the Isle of Cumbrae/Millport. The subjects are within the main retail parade and surrounding occupiers comprise a good mix of local and national operators including WH Smith, Co Op, Boots pharmacy, Costa, JD Wetherspoons, Greggs and Specsavers. The town will benefit further from Marks & Spencer who are due to open at the end of 2025.
Largs is an extremely popular tourist town, and attracts busloads of tourists and day-trippers throughout the year, however particularly in the Spring/Summer months, who flock to Largs to enjoy the many amenities and attractions the town has to offer. The town also markets itself on its historic links with the Vikings and holds an annual Viking festival which draws high numbers of visitors each year.
The town is popular with outdoor enthusiasts, providing many pursuits including beautiful coastline walks, fishing, sailing and motor boating at the nearby Yacht Haven, as well as golf with a number of nearby courses including Largs Golf Club.
Largs is only 33 miles from Glasgow and is easily accessible with excellent road links as well as a regular rail service from nearby Largs Railway Station, and regular bus services, with the main bus stop being positioned directly outside the café.
THE PROPERTY
The subjects comprise part ground floor of this 2-storey traditional property, under a pitched tiled roof with dormer features.
DESCRIPTION
The subjects are accessed directly from Main Street via an entrance vestibule in the centre of the large double display frontage with prominent signage above. The subjects benefit from a large pavement seating area to the front with seating for approximately 20 customers, by way of loose bistro style tables & chairs, and benefit from electric, retractable awnings above.
Internally, the premises have been well designed and fitted and benefit from a large counter/servery that runs along the left-hand side of the premises and incorporates a display chill counter for cakes/baking etc as well as undercounter refrigeration. To the rear of the counter there is a range of equipment including coffee machine, hot water dispenser, till system, smoothie maker, as well as fridges & freezers.
A large open plan seating area can accommodate approximately 62 customers by way of loose tables and rattan style chairs. The premises are stylishly decorated with the walls adorned with old photos of Largs, and the subjects benefit from air conditioning units, CCTV and music systems.
ANCILLARY AREAS
SIZE
We understand that the premises are approximately 119 SqM (1,283 SqFt)
THE BUSINESS
Our clients have owned and operated the Bagel Basket since purchasing the business approximately 10-years ago, however the business has been trading for over 30-years, and is therefore extremely well established and something of a local institution, and has won a number of awards over the years including Best Café in Scotland by Lux Life Magazine. The business is number 1 on trip advisor for quick bites in Largs, and number 2 of 39 restaurants in Largs.
The business enjoys an excellent reputation, serving an extensive menu, all of which is home- made, using locally sourced produce, and includes breakfasts, filled rolls, soups, bagels, sandwiches, toasties, baked potatoes and burgers, as well as a good selection of main meals including fish & chips, scampi, lasagne, pasta dishes, chilli, enchiladas and burritos. It is also popular with customers just wanting a tea, coffee or soft drink, along with a great section of cakes, home baking and ice cream.
The business has a strong customer base with lots of local and regular customers, as well as benefitting from the high levels of tourists, daytrippers and ferry passengers who visit the town, particularly during the Spring/Summer months.
The business only operates daytime hours, and it is felt there is further growth potential should a new owner choose, to extend the opening hours to offer evening meals, introduce a delivery service, or even obtain an alcohol licence.
TRADING HOURS
Monday-Friday: 9:30am-5pm (4pm in winter)
Saturday: 9am-5pm
Sunday: 10am-5pm
TRADING INFORMATION
Accounting information for the year ending 31st January 2024 shows a turnover of £407,658 net of vat, producing a gross profit of £296,620 (73%) and an adjusted net profit of £104,081. Full accounting information can be provided to interested parties only after formally viewing the business.
FIXTURES & FITTINGS
We have been advised that all trade fixtures and fittings are owned outright and are free from any hire purchase or lease agreements.
RATES
The subjects are entered into the current valuation roll as having a rateable value of £21,500.
TENURE
The subjects are currently held on a full repairing and insuring (FRI) lease, which has recently been extended for a further 15-years and expires on 1st July 2039 with a current passing rental of £27,000 per annum, subject to 5-yearly reviews.
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.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
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.
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.
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.'.
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.
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
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.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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.
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.
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.
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.
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.'.
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.
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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