Hilton Smythe is delighted to welcome to the market this well-established and very popular tea room and gift shop in the beautiful village of Pembridge, Herefordshire.
The business was originally opened as a shop in 1773 and has been in our clients' careful ownership since 2011. Only now is the business being offered to the market due to our clients' desire to relocate. The business operates 5 days per week and generates a turnover in the region of £305,300 per annum, with gross profit of approximately 33%.
The tea room and gift shop are very popular with visitors and tourists to the village due to the history and traditional features of the property. The business has won multiple awards including the Best Village Shop in the Midlands, which was organised by the Daily Telegraph and it was 2nd Best Village Shop in the UK.
Our clients' offers a wide range of fayre in the tea rooms including snacks, sandwiches, cakes and daily specials and can cater for 30 covers internally and a further 40 covers externally in the summer months. The Parlour, which offers beautiful views over the church yard, is available for hire for funerals, parties and celebrations.
The store offers a wide range of produce, most of which is sourced locally, including cheese, bacon, preserves and jams, vegetables and confectionery, to name a few, as well as a selection of gifts and postcards.
The bakehouse, which was built in 1890 to house the village bread ovens, has been completely refurbished and decorated to a very high standard. This is now offered as a holiday let and boasts two double bedrooms, both of which are en-suite and a kitchen/diner with an original baking oven. The bakehouse generates between £600 (low season) - £1,000 (high season) per week and is expected to receive 70-80% occupancy.
The property further benefits from substantial owners' accommodation to the first floor, which comprises of four double bedrooms, a large lounge and family bathroom.
The business has built up an enviable reputation within the area for the high quality of the goods and service offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.
We feel there is scope to increase the turnover by extending the opening hours and introducing a wider range of goods stocked. We are advised that the business once sold newspapers and tobacco products, which our clients' decided to stop to shorten the working hours, although this could be re-introduced as the demand is there. A new owner could also embark on a modest marketing campaign to promote the business. The business already has a very informative website in place to advertise the business at www.yeoldesteppes.co.uk.
This is an excellent opportunity for a new owner to take this already thriving and profitable business to the next level; therefore early viewing must come highly recommended to avoid disappointment.
TENUREWe are advised Freehold.
HOURSThe business is open:
Tuesday - Saturday: 10.00am - 5.00pm
STAFFThe business is owner run and managed with 3 x full time staff members.
FINANCIAL PROFILEThe business generates a turnover in the region of £305,300 per annum, with gross profit of approximately 33%.
Ye Olde Steppes occupies substantial two-storey premises, ideally located within the quaint village of Pembridge in Herefordshire. The beautiful black and white property is located within the centre of the village and benefits from free on-street parking facilities to the front of the premises. The tea room and shop is surrounded by both commercial and residential properties, from which the business derives much of its trade.
Pembridge has a long history, dating back at least eight hundred years and describes itself as The Jewel in the Crown of the Black and White Village Trail. Ye Olde Steppes dates back to the mid-16th century and was possibly a rectory until 1777. The church of St Mary is 14th century, although it contains two arches dating from the 12th century Norman period.
The area of the business is well served by the public transport system, with bus stops within easy walking distance of the property. The nearest railway station is in Leominster, approximately 8 miles away. The area is also well served by the A-roads, with the business being located on the A44, which links to the national A-road and motorway networks. Hereford is approximately 17 miles away and Llandrindod Wells is 27 miles away.
Substantial two-storey premises in a quaint village location, briefly comprising:
Ground floor with:
Front tea room section with 15 x covers.
Rear tea room section with 15 x covers.
Two group coffee machine.
2 x iPad operated cash registers and a mini mobile iPad.
Convenience store section.
Alcohol and Charlie bear section.
Dry storage area.
First floor with:
4 x double bedrooms.
Bakehouse letting accommodation with:
Kitchen/diner with original bakery oven and AGA.
Two double en-suite bedrooms.
The letting accommodation is dog friendly.
Private drive and double garage.
Rear gardens with seating areas.
Large garden shed/workshop.