vintage tea rooms business for sale as a going concern interest little ...
VINTAGE TEA ROOMS BUSINESS FOR SALE AS A GOING CONCERN INTEREST BUSTLING VILLAGE TRADING LOCATION | MANAGED TRANSFER TO ASSIST TAKEOVER
LITTLE LONDON TEA SHOP 188 PAGHAM ROAD, PAGHAM BOGNOR REGIS, WEST SUSSEX PO21 3QB Henry Adams (Horsham) LLP 50 Carfax, Horsham, West Sussex RH12 1BP 01403 282519 [email protected] henryadams.co.uk Residential / Commercial / Rural / Development / Auctions Robert Crawford Clarke BSc AGRIC MRICS Howard Ball MNAEA MARLA Consultant: Eddie Jenkinson BA (Hons) MRICS IRRV. Henry Adams (Horsham) LLP is a limited liability partnership which operates under licence and is independently owned. Registered in England and Wales No. OC339620. Registered office 50 Carfax, Horsham RH12 1BP. VAT No. 938 6934 67 Regulated by the RICS (Royal Institution of Chartered Surveyors)
LOCATION Pagham is a semi-rural coastal village, situated approximately 4 miles to the west of Bognor Regis. The village population is set to increase over the coming years with a number of new home developments planned and under construction. The subject property is located in an established community shopping parade, which includes Tesco’s Express, Hair Beauty Salon and Chiropodist. A location plan and street view can be viewed online through Google Maps by typing in the property’s postcode PO21 3QB. DESCRIPTION A well-presented fitted tea room/café arranged over ground floor offering 28 table covers. The premises form part of a purpose-built community shopping parade and include the benefit of free parking directly in front. FEATURES
28 table covers (6 external) Feature lighting Dedicated parking space Fully equipped kitchen Furnished dining area
BUSINESS The business is successfully run as a vintage village tea rooms, serving a selection of quality teas and coffees, homemade cakes and fresh sandwiches. English breakfasts and light lunches are also served, together with salad dishes. The business enjoys an excellent reputation locally being known for its friendly service to loyal customers, passing trade and tourists alike. An overview of the business can be viewed online www.littlelondonteashop.co.uk. Trading accounts for last financial year show a turnover of £42,000. The premises were refurbished throughout in 2013 by the current proprietor who, we understand, spent a figure approaching £20,000. The business trades from 9.00 am – 5.00 pm Wednesday to Friday and Saturday from 10.00 am – 4.00 pm (closed Sun, Mon & Tues). We are of the opinion that there is considerable scope to increase the revenue by increasing the trading hours.
Customer review
This tea-room is a little gem, and if you aren't local to Pagham, it might take a long time to discover, but it's worth taking the trouble to visit. The decor is lovely - vintage country-cottage - light and airy, obviously created with love and care. Lovely vintage crockery all adds to the effect. The cakes look amazing, the food looked good and homemade and it's worth visiting just to see the rather large tea-pot collection on display. Friendly staff and a very welcome change from Costa!
LEASE TERMS The premises are available by the assignment of an existing 10 year lease from 21st February 2013 at a current passing rent of £7,000 per annum exclusive. A deposit equivalent to 3 months’ rent will be required by the Landlord. PREMIUM A premium of £25,000 is being sought for the goodwill interest, trade fixtures and fittings, extensive vintage pottery ware, kitchen appliances and miscellaneous catering equipment.
VAT We have been advised that VAT will be not payable on the terms stated. LEGAL COSTS A contribution of £395 towards the assignor’s legal costs will be required by assignee / purchaser. PLANNING The existing Use Classes of the property falls within A1 Shops of the Town and Country Planning (Use Classes) Order 1987 (as amended). Under the current planning law, a permitted change of use to A3 (Restaurants/Cafes) is allowed, subject to prior approval with Arun District Council. BUSINESS RATES (2016/2017 FINANCIAL YEAR) The current Rateable Value advertised online by the Valuation Office Agency www.voa.gov.uk is £7,000. The Uniform Business Rate for 2016/2017 is 49.0p in the £, making the Rates Payable £3,430. Properties with a Rateable Value less than £18,000 are eligible for Small Business Rate Relief. Interested parties are advised to contact Arun District Council Business Rates Department on 01903 737 752 to verify the above.
VIEWING ARRANGEMENTS Whilst the premises may be informally inspected as a customer, we would ask all parties to strictly respect our client’s wishes and not to approach any staff members. Viewing times are ideally suited to out of hours trading times. Arrangements for thorough inspections are to be made by appointment only with sole selling agents Henry Adams Commercial. CONTACT Andrew Mark Algar - Head of Commercial Agency 01403 282 519 07868 434449 [email protected] Agent’s Notice – We endeavour to make our particulars as accurate and reliable as possible. They are for guidance only and are intended to give a fair overall summary of the property. They do not form part of any contract or offer and should not be relied upon as a statement or representation of fact. Measurements, areas, plans and distances are approximate only. Photographs and computer generated images show only certain parts and aspects of the property at the time they were taken or created. Neither Henry Adams Horsham LLP nor any of its employees has any authority to make or give any representation or warranty whatsoever in relation to the property. No undertaking is given as to the structural condition of the property or any necessary consents or the operating ability or efficiency of any service system or appliance. Intending purchasers or lessees must satisfy themselves with regard to each of these points. Unless otherwise stated, all prices and rents are exclusive of VAT. Any intending purchasers or lessees must satisfy themselves as to the incidence of VAT in respect of any transaction.
LOCATION MAPS – NOT TO SCALE
LITTLE LONDON TEA SHOP 188 PAGHAM ROAD, PAGHAM BOGNOR REGIS, WEST SUSSEX PO21 3QB Henry Adams (Horsham) LLP 50 Carfax, Horsham, West Sussex RH12 1BP 01403 282519 [email protected] henryadams.co.uk Residential / Commercial / Rural / Development / Auctions Robert Crawford Clarke BSc AGRIC MRICS Howard Ball MNAEA MARLA Consultant: Eddie Jenkinson BA (Hons) MRICS IRRV. Henry Adams (Horsham) LLP is a limited liability partnership which operates under licence and is independently owned. Registered in England and Wales No. OC339620. Registered office 50 Carfax, Horsham RH12 1BP. VAT No. 938 6934 67 Regulated by the RICS (Royal Institution of Chartered Surveyors)
LOCATION Pagham is a semi-rural coastal village, situated approximately 4 miles to the west of Bognor Regis. The village population is set to increase over the coming years with a number of new home developments planned and under construction. The subject property is located in an established community shopping parade, which includes Tesco’s Express, Hair Beauty Salon and Chiropodist. A location plan and street view can be viewed online through Google Maps by typing in the property’s postcode PO21 3QB. DESCRIPTION A well-presented fitted tea room/café arranged over ground floor offering 28 table covers. The premises form part of a purpose-built community shopping parade and include the benefit of free parking directly in front. FEATURES
28 table covers (6 external) Feature lighting Dedicated parking space Fully equipped kitchen Furnished dining area
BUSINESS The business is successfully run as a vintage village tea rooms, serving a selection of quality teas and coffees, homemade cakes and fresh sandwiches. English breakfasts and light lunches are also served, together with salad dishes. The business enjoys an excellent reputation locally being known for its friendly service to loyal customers, passing trade and tourists alike. An overview of the business can be viewed online www.littlelondonteashop.co.uk. Trading accounts for last financial year show a turnover of £42,000. The premises were refurbished throughout in 2013 by the current proprietor who, we understand, spent a figure approaching £20,000. The business trades from 9.00 am – 5.00 pm Wednesday to Friday and Saturday from 10.00 am – 4.00 pm (closed Sun, Mon & Tues). We are of the opinion that there is considerable scope to increase the revenue by increasing the trading hours.
Customer review
This tea-room is a little gem, and if you aren't local to Pagham, it might take a long time to discover, but it's worth taking the trouble to visit. The decor is lovely - vintage country-cottage - light and airy, obviously created with love and care. Lovely vintage crockery all adds to the effect. The cakes look amazing, the food looked good and homemade and it's worth visiting just to see the rather large tea-pot collection on display. Friendly staff and a very welcome change from Costa!
LEASE TERMS The premises are available by the assignment of an existing 10 year lease from 21st February 2013 at a current passing rent of £7,000 per annum exclusive. A deposit equivalent to 3 months’ rent will be required by the Landlord. PREMIUM A premium of £25,000 is being sought for the goodwill interest, trade fixtures and fittings, extensive vintage pottery ware, kitchen appliances and miscellaneous catering equipment.
VAT We have been advised that VAT will be not payable on the terms stated. LEGAL COSTS A contribution of £395 towards the assignor’s legal costs will be required by assignee / purchaser. PLANNING The existing Use Classes of the property falls within A1 Shops of the Town and Country Planning (Use Classes) Order 1987 (as amended). Under the current planning law, a permitted change of use to A3 (Restaurants/Cafes) is allowed, subject to prior approval with Arun District Council. BUSINESS RATES (2016/2017 FINANCIAL YEAR) The current Rateable Value advertised online by the Valuation Office Agency www.voa.gov.uk is £7,000. The Uniform Business Rate for 2016/2017 is 49.0p in the £, making the Rates Payable £3,430. Properties with a Rateable Value less than £18,000 are eligible for Small Business Rate Relief. Interested parties are advised to contact Arun District Council Business Rates Department on 01903 737 752 to verify the above.
VIEWING ARRANGEMENTS Whilst the premises may be informally inspected as a customer, we would ask all parties to strictly respect our client’s wishes and not to approach any staff members. Viewing times are ideally suited to out of hours trading times. Arrangements for thorough inspections are to be made by appointment only with sole selling agents Henry Adams Commercial. CONTACT Andrew Mark Algar - Head of Commercial Agency 01403 282 519 07868 434449 [email protected] Agent’s Notice – We endeavour to make our particulars as accurate and reliable as possible. They are for guidance only and are intended to give a fair overall summary of the property. They do not form part of any contract or offer and should not be relied upon as a statement or representation of fact. Measurements, areas, plans and distances are approximate only. Photographs and computer generated images show only certain parts and aspects of the property at the time they were taken or created. Neither Henry Adams Horsham LLP nor any of its employees has any authority to make or give any representation or warranty whatsoever in relation to the property. No undertaking is given as to the structural condition of the property or any necessary consents or the operating ability or efficiency of any service system or appliance. Intending purchasers or lessees must satisfy themselves with regard to each of these points. Unless otherwise stated, all prices and rents are exclusive of VAT. Any intending purchasers or lessees must satisfy themselves as to the incidence of VAT in respect of any transaction.
LOCATION MAPS – NOT TO SCALE
