Chartered Surveyors and Business Property Specialists
Graham Timmins Head of Business Transfer View Profile

Contact us about this property

Call: 01872 247019
Email: gt@miller-commercial.co.uk

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SOLD - Morwenna Cafe, 2, Morwenna Terrace, Bude

Catering for sale

£37,500

Freehold

An exciting opportunity to acquiire a coastal cafe / bar in the pretty North Cornish town of Bude. Morwenna Cafe and Bar is extremely well equipped, presented and spacious. To be offered with the Assignment of the existing lease and ideal lifestyle business opportunity.

  • ATTRACTIVE COASTAL CAFE/BAR
  • CIRCA 50 COVERS INTERNALLY AND 20 EXTERNALLY
  • VERY WELL EQUIPPED AND MAINTAINED
  • ASSIGNMENT OF EXISTING RENEWABLE LEASE
  • IDEAL LIFESTYLE BUSINESS
  • ENERGY ASSET RATING (D)

Property Brochure PDF Location Map

Location

Morwenna Café-Bar is situated on one of the principle vehicular and pedestrian thoroughfares through the North Cornish town of Bude, which is famous for its wide expansive beaches, character properties and access to some of the Countys’ finest countryside. Bude has national and niche retailers, primary and secondary schooling, high levels of serviced and non-serviced holiday accommodation, is a sought after holiday destination, as well as having a thriving local community.

Property/business

Morwenna Café and Bar trades from a mid-terrace property, with broad frontage and extends to circa 750 sq ft of café/bar area, with circa 465 sq ft of kitchen/service areas to the rear. We understand a business has traded on the site since the 1980s and the property has been in our clients tenure since 2010 when they undertook a thorough refurbishment and re-equipping. The business trades all year, with the exception of some closure in January, trades principally as a husband and wife team, with some seasonal assistance in the peak months. The business is concerned with the sale of home made pasties, hot and cold meals, serving breakfasts through to lunch and cream teas, also hot and cold beverages and ice cream.

The business is being sold by way of the Assignment of the existing Lease which we understand commenced in March 2006 for a period of 15 years, which enjoys the security of tenure of under the Landlord and Tenant Act and has a current passing rental of £13,500 per annum. The Lease is held on an internal repairing and full insuring basis.

We are advised the Business currently has a relevant A3 Catering Consent and has a full On Licence in respect of the sale of intoxicating liquor.

The Trading Profit and Loss Account for the year end March 2013 (as supplied by our clients) shows sales of circa £68,000 producing a gross profit of 74.5% and an adjusted net profit of circa £15,000 per annum (after deducting wages of £9,562). Further accounting information will be made available subject to a viewing appointment in the normal manner.

The Accommodation Comprises

(all areas and dimensions are approximate)

Cafe/bar

8.64m x 7.98m. Very attractive room with oak flooring, built in wooden bar servery, tables and chairs circa for 50 covers. 2 windows to the front elevation overlooking the front courtyard.

Access to ladies and gents WCs. Service door through to:-

Commercial Kitchen

3.79m x 3.9m. With commercial non-slip flooring, 6 ring gas burner (with oven below), extensive extraction system over. Commercial kitchen to include griddle, fryers and microwaves etc. Through to

Rear Preparation Area

3.46m x 2.75m. Commercial non-slip floor, stainless steel drainer unit and door to rear elevation. Through to

Freezer/preparation Area

5.76m x 2.62m, 4 chest freezers, stainless steel work bench, 2 windows to side elevation and commercial combination oven.

Storeroom

3.03m x 2.93m, wash up area with door to rear courtyard.

Outside

Car parking to rear for 2 vehicles and to the front of the property terraced area with tables and chairs for circa 20 to 24 covers.

Tenure

Leasehold

The business is being sold by way of the assignment of the existing Lease which we understand commenced in March 2006 for a period of 15years, which we are advised enjoys the security of tenure of under the Landlord and Tenant Act and has a current passing rental of £13,500 per annum. The Lease is held on an internal repairing and full insuring basis.

General Information

LOCAL AUTHORITY
Cornwall Council
General Enquiries 0300-1234-100
Planning 0300-1234-151
www.cornwall.gov.uk

Energy Performance Certificate

The Energy Performance Rating for this property is within Band D.

Premises Licence

We understand the premises currently holds a relevant Premises Licence in respect of the sale of intoxicating liquor on the premises

Business Rates

We refer you to the valuation office website www.voa.gov.uk or call 0300-1234-171

Services

Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989
South West Water: 0800 169 1144
Transco: 0800 111 999

Stock

Stock at valuation on completion

Value Added Tax

All the above prices/rentals are quoted exclusive of VAT, where applicable.

PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.

Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.

VIEWING: Strictly by prior appointment through Miller Commercial.

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Graham Timmins Head of Business Transfer View Profile

Contact us about this property

Call: 01872 247019
Email: gt@miller-commercial.co.uk

Property Brochure PDF