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Popular Tea Room & Cocktail Bar In Prestatyn For Sale

Prestatyn, Clwyd
Asking Price:
£39,950 Furniture / Fixtures included
Sales Revenue:
£105,831
Cash Flow:
Available on request

Town Centre Trading Location
Latest Accounts To 31 October 2018
Annual Turnover £105,831
Gross Profit £67,161
Accounts Available Upon Viewing
Scope To Introduce Monday Trading
Close To Large Multiples
Alcohol Licence In Place
Customer Seating For 40
Further Seating Outside
Scope to Increase Weekday Evening Trading
Excellent Social Media Presence
Comprehensive Website
Superb Online Reviews
Scope To Expand Into First Floor
EPC - D

REF 6576 – Leasehold Tea Room & Cocktail Bar

Blacks Brokers are pleased to bring to the market this leasehold adult only tea room and cocktail bar located in the much sought-after area of Prestatyn, Clwyd.

INTRODUCTION

Vintage Sugar has been trading on Meliden Road since 2016 with our client in ownership since 2017. This fully licensed Tea Room has a south facing garden area to the rear that is extremely popular in the summer. It is also the only cocktail bar in the local area. Our client has introduced a range of exclusive cocktails designed in house and these have proved very popular with regulars. Vintage Sugar has a very strong social media presence with over 4,200 Facebook followers and an optimised website which is included in the sale. The Facebook posts usually reach over 2,500 people, with monthly competitions reaching as many as 63,000. Facebook also generates around thirty bookings per week. The website generates around fifteen enquiries/bookings per week and Instagram three or four per week. The business has an array of superb reviews noted on various website including Trip Advisor, Ladies That Lunch and Google.

LOCATION

Vintage Sugar is positioned within a busy and prominent shopping parade close to Prestatyn’s popular High Street. Other local businesses range from independent retailers to large multiples including Tesco, Aldi and The Post Office. Prestatyn is well linked by the A548 and A55, the town has superb public transport links and parking is available in the immediate vicinity.

REASON FOR SALE

The business is ideally suited to a hands-on owner-operator, however due to the demands of our client's other business interests being higher than anticipated, the business is offered for sale and presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

LEASE

The building is available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is three years and began in 2017 at a cost of only £192 per week.

STAFF

The business is currently operating with five casual members of staff including a head chef.

FINANCIAL DETAILS

Vintage Sugar has traded solidly since opening. The business currently has annual turnover of £105,831 and gross profits of £67,161. Full financial details are available upon viewing.

BUSINESS RATES

The rateable value is £7,700. Purchasers should enquire with relevant local authorities to confirm the rates payable.

SUMMARY

This leasehold business occupies an enviable trading position in a busy area of Prestatyn, has a large base of regular customers and a superb reputation. Our client has secured an excellent online and social media presence and created a great general knowledge of this business in the local and surrounding area. There is plenty of scope to develop the business further with the introduction of later opening during the week and new weekend opening for cocktail nights. The business is currently closed on Sundays, opening only for private parties – this could also be altered. There is also potential to convert the first floor space into a secondary dining area or function room to cater for the private parties, or this could be used for staff or owners accommodation. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Property information

Property:

Leasehold

Business Operation

Trading hours:

Mon - Closed
Tues- Thur - 11.00am to 3.30pm
Fri - Sat - 11.00am to 10.00pm
Sun – Events and private parties only

Contact Information

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  1. What will happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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