Hilton Smythe welcomes to the market Thyme Deli, For Sale due to our client's wish for a well earnt retirement.
This is a truly outstanding opportunity, in a fantastic location benefitting all the trappings of a city centre local, passing and tourist trade. With imaginative menus, superb coffee offering, sandwiches, drinks, light bites and lunches, the business offers a mix of traditional retail sandwich and deli trade, plus plenty outside catering options. Consistently busy with footfall, Thyme Deli has built upon a long-standing reputation, and grown rapidly in stature since our clients purchase in 2011. Homemade produce plays a big part in what is a very profitable concern, offering much better gross profit margins.
Trade comes from many directions, including a huge local repeat clientele, tourist trade, city centre workers, student population and general passing footfall. With an amazing reputation both locally renowned, and highly respected online. Many of the recent TripAdvisor reviews suggest that 'Thyme' is the best sandwich bar and deli in the city. The business has an excellent social media presence including Facebook, although there is probably room for a more formal website and domain. Long established in the city, our client purchased the business in 2011 and the team has been responsible for its dramatic increase in popularity.
Although an already profitable business with excellent historic financials, there is always room for organic growth by playing with the opening times to suit what is now a 24/7 city with its Green Park Station, Sunday markets and the Fringe Festival, or to extend the outside catering part of the business. There would also be the opportunity to become providers to local office based businesses, or sandwich deliveries to places of work.
TENUREWe are advised the business is being sold as a Leasehold business opportunity.
Original lease length: 4 year renewable lease terms with private landlords.
Remaining lease length: The current lease expires 28.8.2021
Review period: 4 Yearly
Rent: £27,000 per annum.
According to the VOA website, the current rateable value is £25,750 per annum.
HOURSThe business opening hours:
Monday: 06:00 to 15:30
Tuesday: 06:00 to 15:30
Wednesday: 06:00 to 15:30
Thursday: 06:00 to 15:30
Friday: 06:00 to 15:30
Saturday: 08:00 to 15:30
STAFFThe business is run by 2 of 3 owner partners, with the quality help of 2 other full time members of staff.
FINANCIAL PROFILEWe are advised that the turnover for the year ending 2016 is circa £250,000 with a gross profit of around 50%.
Accounting information will be made available to seriously interested parties following first inspection.
Thyme Deli is situated on a busy city centre high road, in the heart of Bath, within the county of North East Somerset.
Located in a prominent position on a very busy city centre thoroughfare, adjacent plenty of other complimentary businesses both independent and major. The premise is close to lots of the pedestrianised parts of the city and there is plenty of city centre pay and display patrons parking. Vibrant signage and lovely kerb appeal make the business extremely visible.
Bath is a beautiful city constructed largely in unique Bath stone, making the majority of its historic and character buildings extremely attractive and pretty throughout the entire location. With a large mixed population from local city dwellers to tourism and a large student quarter, Bath and North-East Somerset is home to circa 176,000 people. A tourist haven with attractions such as the Roman Baths, Bath Abbey, and some of the best architecture in the UK. The area has superb road and public transport links, is close to nearby Bristol, the M5 and M4 motorway networks and a busy business hub with many major and corporate operators.
A well maintained and appointed premise, with lovely décor, look, feel, ambience and kerb appeal. Circa 85 sqm. Largely open plan shop front with large window elevation.
On entry is the main servery with chilled and glazed display cabinet, coffee bar with waitress station/machine area, till and hot cabinet. Tastefully presented displays, shelving, signage and menu boards as well as drinks fridge and cooler.
A good sized mid galley and ancillary area sits in between the shop floor and trade kitchens, comprising further storage, dry stores and substantial walk-in chiller.
To the rear is a substantial, well equipped, and immaculately presented stainless steel trade kitchen briefly benefitting, ovens, extraction, preparation and serve, wash-up facilities including commercial dish washer.
Outside is an extremely useful covered and protected yard space, housing further ancillary areas and storage, second walk-in chiller unit, staffing area and WC. Steps lead down to cellar style storage, dry stores and ancillary rooms.