Leamington Spa, CV32

Independent Restaurant & Cafe located In Royal Leamington Spa Licensed (76 internal covers & 12 external)

Ref 2129

Location

This respected Restaurant & Cafe is located within a prominent and highly visible location on the main thoroughfare in Royal Leamington Spa. Wide boulevards, Georgian and Edwardian architecture, award-winning parks which provide a sophisticated backdrop to this Regency shopping paradise. Often described as 'the best bits of London, all in a ten-minute walk', Leamington town centre combines a treasure-trove of independent, specialist boutiques with all the national chains you would expect to find in a large city. With an impressive array of entertainment venues, a rich choice of restaurants and some of the country's best spas and salons, we're certain you will find it one of the most appealing towns in the UK.

Business information

Asking Price: £199,950

Turnover: £319,595 pa net of VAT

Gross Profit: £244,831 (77%)

Adjusted Net Pre Tax Profit: £100K

Leasehold

Original term: 10 years (New lease available)

Remaining : 2 1/2 years

Rent: £27,000 pa

Reviewed: none

Rates:£8,038.50p

Business Veritas Business Sales are delighted to offer for sale this outstanding Restaurant & Cafe business which is located in the highly desirable and affluent town centre of Royal Leamington Spa. The business has been established for over 15 years and has been in the careful hands of my client since 2008 and is reluctantly being offered for sale so that they can enjoy a well deserved retirement. Since ownership they have undertaken extensive refurbishment and invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business is over seen by the current 3 Directors and the help of a reliable team of 4 full time & 16 part time part time members of staff. The Fat Birds Cafe published accounts for year ending February 2017 show a turnover of £319,595 with a GP of £244,831 (77%) and a very healthy adjusted net pre tax profit of £100,000. They serve a fine range of cooked breakfasts, all day brunch, freshly cut sandwiches, burgers, vegetarian options, salads, main meals, specialist loose leaf teas, coffees, hot chocolates, cakes, cold drinks, beers, cider and wines. All fayre is proper, hearty and cooked fresh to order using only the freshest locally sourced produce and can be enjoyed in a relaxed, vibrant and friendly atmosphere. We believe that there is further potential to increase trade by opening evenings as a Bistro and by building upon the outside catering. The business has built a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many passing tourists & shoppers. This is a superb opportunity to purchase an established business with further potential which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.

Opening Hours

Monday - Friday - 9.00am - 4.30pm

Saturday - 8.15pm - 5.00pm

Sunday - 9.30pm - 3.00pm

Ground Floor

Open plan restaurant comprising: serve over sales counter with cash register, cake display stands, under counter double door drinks fridge, under counter single door drinks fridge, wall mounted glass and crockery storage shelves, espresso coffee machine (Rancillio), coffee grinder, hot water boiler, fridge (Hotpoint), hand wash basin, base units, under stair storage unit, wall mounted menu board, condiments and cutlery unit and seating

Ladies/disabled W/C with hand wash basin

Gents W/C with hand wash basin

Catering kitchen comprising: commercial stainless steel sink drainer, dishwasher (D C Series), double door upright fridge (True), stainless steel worktop with under counter 2 door fridge (Polar), under counter freezer (Williams), double electric deep fat fryer (Fri Fri), chip scuttle (Lincat), turbo fan oven (Blue Seal), 2 induction hobs (Buffalo), 2 salamander grills (Blue Seal), extraction unit, 3 commercial toasters (Dulait), 2 domestic microwaves, 1 panini presses (Buffalo), combi oven (Maestrowave), CCTV monitor, shelving and water softener

Cellar ( Below ground) store room with shelving

First floor

Restaurant

Store room with 3 chest freezers and an upright fridge (Gram)

Stock room with small chest freezer, cake display chiller and storage shelving

Hallway with upright freezer (Lec), and 2 chest freezers (Norfrost)

Staff ladies W/C with hand wash basin

Staff gents W/C with hand wash basin

Second floor

Office

Staff room

Store room

External

Frontage with seating for (12)

The property benefits from 3 phase electric and gas fired central heating