Business for Sale in Warwick, Warwickshire VINTAGE TEAROOM & FOOD EMPORIUM - WARWICK

Leasehold Price £49,950

Key Information

Reference
R34361Q
Tenure
Leasehold
Status
For Sale
Region
Warwickshire
Sector
Tea Rooms
Rent Payable
£14,000 + VAT per annum. The purchaser will be responsible for the landlords costs and fees in connection with the assignment of/or the grant of a new lease.
Business Rates
We understand that the business enjoys the benefit of Small Business Rate Relief and thus does not currently make any payments for rates. This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.
Accommodation
No

Business Information

  • Excellent Location in Centre of Town
  • Vintage Cafe & Tearoom
  • Traditionally Presented
  • Long Established
  • Good Tourist & Local Trade
  • Very Well Known & Highly Regarded
  • Adjoining Food Emporium/Sweet Shop
  • Up to 34 Covers
  • Scope to Extend Hours into Evening
  • Contact Us to Discuss Further

PARTICULARS

We are pleased to be appointed to market this delightful vintage style tearoom and food emporium located in the sought after market town of Warwick. Known internationally for its imposing medieval castle, which in addition to being in close proximity to Stratford-Upon-Avon and Royal Leamington Spa, brings thousands of visitors into the town each year.

With UK based holidays and excursions expected to continue to be on the rise, this would appear to be an ideal time to acquire this long established and well regarded business.

THE BUSINESS ITSELF

The vendors have continued to successfully build the business during their period of ownership and it is now only reluctantly coming onto the market for genuine reasons.

The business is styled on a traditional vintage tearoom and its interior and offering very much reflect this. This style is very much suited to a location like this which is steeped in history and where tourists come to enjoy the experience of it all.

The core business is the tearoom but the vendors have also created a food emporium in the end room of the premises where a selection of sweets, chocolates, jams, cakes, signs, old style tins and other gifts are displayed for sale. This adds an interesting extra dimension to the business by encouraging customers of the tearoom to make additional purchases whilst on site and also being a draw to bring further guests inside.

There would appear to be scope for a new owner who wishes to increase turnover to look to open some evenings particularly in the summer months and possibly also on Sundays when the town can be busy still with tourists. We note that they do not currently hold a premises licence for serving alcohol with meals and this may also be an area to look out especially as you could then offer a glass of bubbly with an afternoon tea.

PREMISES

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

We are advised that the premises forms part of a grade II listed building which all adds to its character and charm. Accessed via a little passageway off of Market Place just by the Market Hall Museum the business is in the heart of the town and ideally placed for the passing tourist and local trade.

Entering into the property to a central lobby with storage cupboard opposite and doors either side off to the main parts of the business. The property is long and rectangular in shape with a kitchen at one end, the shop at the other end and then two dining rooms in the middle. There is a shared customer toilet across the alleyway plus in addition we understand that there is informal permitted use of some outside space for seating and a parking space, but that these are not formally included in the lease of the property.

The kitchen measures around 5m x 1.8m and includes a coffee machine, grinder, under-counter freezer, double stainless steel sink, 2 electric water heaters, hand wash sink, grill, upright fridge, Buffalo soup heater, under-counter stainless steel pan/dish warmer, 4-ring gas hob and oven, stainless steel work benches and a selection of shelving.

The first dining room measures 5m x 3.5m and is currently set for 12 covers and includes an under-counter drinks fridge, fireplace, built in cupboards, sash windows and ceiling fan lights. The second dining room is 4.5m x 4.2m and again has a fireplace and built in cupboards but instead has quarry tile flooring and is decorated with many vintage items.

Lastly through to the shop which measures 4.5m x 3.9m with wood effect flooring, service counter, an old fashioned shop dresser behind for displaying of goods, together with a number of other similar dressers and display units.

FURTHER INFORMATION

REFERENCE NUMBER

R34361Q.

OPENING HOURS

9:00am to 4:00pm Mon, Tues, Weds & Fri and 9:00am to 5:00pm Saturday. Closed Thursday & Sunday.

TENURE

Leasehold.

This would be an assignment of the existing lease which is a 10 year lease from 11/06/2013. We understand the lease is within the Landlord & Tenants Act 1954 (thus renewable).

RENT PAYABLE

£14,000 + VAT per annum.

Purchaser will be responsible for the landlords costs and fees in connection with the assignment of/or grant of new lease.

RATES PAYABLE

We understand that the business enjoys the benefit of Small Business Rate Relief and thus does not currently make any payments for rates.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

EPC

We are advised that the property is listed and as such no EPC is proposed to be provided.

PRICE

£49,950.

For the benefit of the goodwill, fixtures, fittings & equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern. VAT will be payable on the sale price if the purchaser decides not to register themselves for VAT.

VIEWING

Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.

FINANCE

Finance may be available to suitable purchasers.

BUSINESS TO SELL?

Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

PREMIER MARKETING

We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!

UNHAPPY?

Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.

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Warwickshire & Northamptonshire

Your Regional Director Chris Ruggles

Warwickshire and Northamptonshire

Valiant Office Suites, Lumonics House
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Rugby
Warwickshire
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