Hilton Smythe welcomes to the market Eddystone Beach Cafe and Apartments as an on-going business, capable of expansion or a very substantial residence with small seasonal cafe attached.
The cafe business was originally established in 1956 and was taken over by our client in 2005, who then opened holiday lets as well as developing a very comfortable home and later a surf shop and school.
The business has just been awarded a Silver Award for the best beach apartments.
The owner is now looking to sell the property and business, due to their desire to focus on other priorities. The sale includes a café, and a substantial residence, which is currently split into self-contained, 1, 2 and 3-bedroom accommodation the smaller sections being let for most of the year as self-catering apartments.
The café is seasonal and opens just 10 weeks of the year plus any convenient sunny weekend in the colder months. The café in addition to the standard faire, offers chips, Cornish pasties and the obligatory ice cream, hot and cold drinks. Last year the menu was expanded successfully to add restaurant quality dishes including fish, shell fish and speciality cheeses.
With an annual turnover of around £25,000 in the 10 weeks of trading the potential of the cafe hasn't been fully exploited and could benefit from more ambitious plans.
The demand for the holiday lets has grown as demand for other more expensive and more heavily marketed chalets on Tregonhawke cliff increases. Having exclusive use of the track and hoist for luggage is a significant advantage in attracting clients not to mention the unique position right on the beach. Occupancy rates for both guest apartments are high and increasing as regular clients accumulate. Bookings are managed by an agency as well as the owners accepting direct bookings. The location attracts UK and overseas holidaymakers.
Assuming income from letting three apartments, the annual turnover is in the region of £75,000pa, with rates increasing between 5% and 10% per annum over the last 5 years but still well below the most expensive units on the cliff. Our client has been advised by holiday agents to increase pricing for the services that are on offer.
The surf school, which is a concession is open all year round and is predictably very busy in the summer. The surf school is sublet, the operator pays a percentage of his takings to our client for his own customers.
The business generated a turnover in the region of £100,000 in 2016, with a gross profit of around 68%. This is a great turnover with potential to be increased, if this were the objective of the buyer. Eddystone cafe has a great online presence with its website, (www.eddystonecafe.com), and Facebook pages, (www.facebook.com/Eddystone-Beach-Apartments-275016205889947/ and www.facebook.com/EddystoneCafe/ )
Each Facebook page is regularly updated with promotional offers and photos. The site is easy to use; however, we feel that the site could be improved with an online booking system. This really is a lifestyle business, perfect for a husband and wife team. This concern has been well run by our client and would further benefit from a hands-on purchaser looking to run a lucrative business. This is a fantastic opportunity that is not to be missed. Alternatively, for a purchaser looking for a substantial residence uniquely positioned, the opportunity exists to downsize the business and enjoy the lifestyle - outside the summer weeks the five miles of beach are frequently empty and at most used by a few surfers and dog walkers.
Hilton Smythe highly advise early viewing to take in the full potential.
TENUREWe are advised the business is being sold as a Freehold opportunity.
HOURSThe business opening times: -
Guest apartments are all year round and heavily pre-booked.
Surf school and board/SUP and Kayak hire runs throughout the year.
Cafe is summer season only (10 weeks including main school summer holidays and some sunny weekends).
STAFFThe business is run and managed by our clients, with the help of 3 casual members of staff in the café (seasonal). There are also two cleaning staff every Saturday for the apartments.
FINANCIAL PROFILEThe business generated a turnover in the region of £100,000, (including notional rental of owners three bedroom accommodation) in the calendar year 2016.
Eddystone Beach Cafe and Apartments is located in North East Cornwall at the bottom of Tregonhawke Cliff on the beach at Whitsand Bay, near Millbrook on the Rame Peninsular, known as 'The forgotten Corner' of Cornwall.
Tregonhawke Beach, arguably the best surf beach on the South Coast and the five miles of beach is a great holiday destination with tourists visiting all year round. At low tide there is a stretch of 5 miles of dog friendly golden sand, popular but never crowded due to parking and access limitations.
The property is reached down a tarmac track and a further 160 steps to the beach. The property owner has the sole right to drive a 4x4 on the track and to park at the top of the hoist.
Millbrook, offers small supermarkets, post office and other amenities, the nearest town is Torpoint from where a car ferry connects with 'Ocean City' - Plymouth, a 15 minute drive from the cliff top. There is a bus services running regularly along the cliff road.
This is a unique property with some quirky character features. The property is mainly stone/concrete block built building with timber cladding. The property is fitted with two 3.8KW sets of solar panels benefiting from FIT. The sale includes a three-bed owner's accommodation, two beach front guest apartments, a café and surf school. Heating is provided by a 8.5KW multi-fuel burner, electric convector heaters in three living rooms and underfloor heating and heated towel rails in four bathrooms.
Our client has the only vehicle access to a hard-standing point half way down the cliff face. All boundaries referenced on land registry, includes up to 7 meters onto the beach on the seaward side of the sea wall.
The top plot of land (additional freehold) adjacent to the main road at cliff top is about 70sqm.
Mains water and electricity are available.
Eddystone Beach Cafe and Apartments Torpoint PL10 1JX
From the cliff-side car park is a luggage transfer system, this is a winch that customers find unique. Currently used only as a goods hoist, the owner is upgrading the hoist to be certified for 250kg loads with remote operation.
The property briefly comprises: -
Letting apartments -
Ground floor apartment - The apartment has a kitchen with trap door to basement storage, (not for guests use), living room, one bedroom and a large shower room. All the rooms are spacious and bright plus fitted with soundproof double glazed windows. The apartment is completed with wood style floors and a private patio area overlooking the Atlantic Ocean.
First floor apartment - This apartment has two bedrooms and comes with a kitchen with breakfast bar, living space and a large shower room. Again, this apartment comes fitted with soundproof double glazed windows with wood style floors. Both letting apartments are beautifully presented throughout.
Owners Accommodation - The accommodation has three bedrooms and comes with a lounge, dining room, beautifully fitted kitchen, shower room with WC, main bathroom and operator's office. All rooms are tastefully presented and well maintained with character and some features, such as the nice central log burner in the living space. There is a huge outside decking area with balcony to the whole of one side. Again, this property is double glazed throughout with sound proof membranes.
Outside utility room - (6m x 1.6m) - with washing machine and tumbler drier.
Surf School Sublet premises, the agreement includes rent and sale of beach craft and clothing and surf lessons and coasteering. There is an RNLI boat house and storage, which is also partially leased to WhitsandBay Surf Lifesaving Club which acts as command centre for Beach Lifeguards on Tregonhawke, Sharrow and Freathy Beaches, all part of the Whitsand bay surfing area. RNLI Life guards work from May to September each year and usually put out a fund-raising team on the beach when the cafe runs its four family 'Fun Day Sundays' on the first Sunday of June to September.
Café The café comes fully equipped and is perfect for the trade. There is a waitress station and front serving counter and work surfaces and cupboards behind it, plus trap door to under floor storage room, which runs the full length of the entire building. Through to the rear is an access door to a fully equipped trade kitchen. There are no internal covers but there are external covers for 25 people on picnic benches. Customers can also take food down to the beach. There are two toilets available to customers and RNLI lifeguards in what was the 'boat shed'.
Boat shed - formerly used for boat storage. At present, it accommodates 2 toilets, the Cafe kitchen and storage for the Surf School and Café.
Other - high speed broadband via BT land line, terrestrial TV aerial, SKY dish and Magic Sea Weed camera mounted on the building.
Floor area measurements: -
230 square meters, of living/cafe area
90 square m