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Fish And Chip Take Away Restaurant Devon Coast For Sale

Braunton, Devon, UK
Asking Price:
£135,000 Furniture / Fixtures included
Sales Revenue:
£230,000
Cash Flow:
£50K - £100K

Situation
South Sixteen is situated in the heart of the popular and sought after village of Braunton, just 5 miles North West of the regions administrative centre at Barnstaple and 2 or 3 miles from the magnificent sandy beaches of Saunton and Croyde. Population 7,500 (approx.)The village is a thriving community and enjoys additional tourist trade a full 12 months of the year with many selfcatering holiday venues close by. The Championship Private Golf Courses at Saunton (2 miles) are ranked in the top 50 within the UK and surfers are drawn in their hoards to the challenging waves at Croyde, Saunton and Woolacombe. North Devon is indeed a most wonderful place in which to live, work and raise a family.
Description
South Sixteen has been established as a Fish & Chip restaurant and Take-Away for over 50 years providing Braunton with quality produce and service recognised by a previous winner of "Best Food to Go" in the North Devon food awards. Our client has owned and operated the business for the past 11 years. Having run the concern
single handed (supported by a Manager and Staff) she now wishes to retire. We consider that this operation is ideally suited to a hands on partnership which would in turn reduce staffing costs considerably and drive profits forward.
Business premises
Smart, well known premises having a wide glazed frontage beneath a large coloured illuminated fascia with matching signage. The front out-sales section is well fitted and is attractively styled with easy to maintain clad wall covering, non slip flooring and has a curved service counter. Prominently sited above the Kiremko Range is a large menu display and there is access to the well equipped stainless steel kitchen. To the rear is a well presented licensed restaurant with 45 covers in comfortable surroundings. Customer WC facilities. To the rear of the building are preparation & storage facilities and some customer outside seating, plus delivery access from the
side.
Owners accommodation
A spacious two-bedroom apartment that has separate access. The current owners rent this for £660 pcm although vacant possession will be given.
Tenure
Held by way of an FRI Lease (12 years) expiring in 2026. Annual rent £16,000. The Landlord has confirmed that they are prepared to grant a further 12 year lease thus expiring 2038
Price
£135,000leasehold, to include lease, trade fixtures, fitting & equipment and goodwill. Dry stocks to be purchased (at valuation) on completion.
Trading hours
Monday - Thursday, 11.30 - 2pm and 5pm -8.30 pm
Friday & Saturday, 11.30 - 2pm and 5pm - 9pm
Closed on Sundays
Fixtures, fittings & equipment
A two-pan Kiremko range, fully fitted stainless steel kitchen, pizza oven, peeling machine, coffee machine and an integrated EPOS system
We are advised that all fixtures, fittings and equipment are to be included in the sale of the business.
Trading & profit analysis We have analysed the most recent Trading & Profit and Loss Accounts (31.5.19). Turnover £230,000 (approx.) Gross Profit £128,000 (approx.) After deductions for normal running expenses (eg rent, heat, light , etc.) we anticipate a Net profit surplus in the region of £70- £75,000 pa can be expected, before wage expenses which will vary on the circumstance's of the new owners.
Regulatory
Premises Licence

Property Information

Property:

Leasehold

Lease Terms:

Held by way of an FRI Lease (12 years) expiring in 2026. Annual rent £16,000. The Landlord has confirmed that they are prepared to grant a further 12 year lease thus expiring 2038

Leasehold Rent:

£16,000 per annum

Living Accommodation:

2 bedroom, self contained apartment.

Location:

Braunton, North Devon - 2 miles from the sandy beaches at Saunton & Croyde

Premises Details:

Centre Village location 2 storey period property with ground floor trading areas and first floor living accommodation - walled rear garden

Planning Consent:

A5

Business Operation

Reasons for selling:

Retirement

Trading hours:

Monday - Thursday, 11.30 - 2pm and 5pm -8.30 pm
Friday & Saturday, 11.30 - 2pm and 5pm - 9pm
Closed on Sundays

Years established:
50

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