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Quaint Vintage Tea Room and Emporium

Grassington, North Yorkshire

£39,950 +SAV

Ref: 14624 J

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Description

Hilton Smythe welcomes to the market the 2 businesses known as Annie and Betty’s Vintage Tea Room and Emporium. The businesses are distinct and separate. The traditional and charming tea room serves a good variety of breakfasts, lunches, hot and cold sandwiches, hot and cold drinks, cakes, pastries, cream teas and scones. The afternoon teas are a speciality which have been particularly well received. All items are fresh and home-made. The business has attracted excellent comments on social media, with 5 star reviews on Trip Advisor and Facebook. The adjacent quaint Emporium specialises in the sale of vintage dresses, hats, clothing, furniture, jewellery, handcrafted gifts and bric a brac. It has permitted general retail use. The businesses were started and newly furnished/decorated by our clients 2 years ago. Our clients are now reluctantly selling for family reasons. Both businesses have a good reputation and a loyal customer base which is supplemented by the high volumes of tourist trade throughout the year. Although now established, the businesses could grow further with increased drive and enthusiasm, advertising and marketing. The businesses are ideal for a buyer looking for a lifestyle change.

Tenure

Leasehold

We are advised that the premises (incorporating the 2 shops) are of Leasehold tenure. The term of the Lease is 5 years from October 2015.The rent is £24,000 pa. (Our clients have negotiated a lower rate of £20,000, however this rate would need to be negotiated by the purchaser with the landlord). Both shops are currently exempt from the payment of business rates.

Hours

The business currently opens:- Wednesday to Sunday 10.00am to 4.00pm. Closed Monday and Tuesday.

Staff

The owner runs the business with the assistance of part time and casual staff. Staff costs are approx £20000 pa.

Financial Profile

The combined annual turnover to Dec 17 was approx £93,000 pa ( split £76,500 for the tea room and £16,500 for the Emporium). Combined GP was circa 75%. Adjusted combined net profit was approx £20,000.

Location

This double business is located in the charming market town of Grassington, North Yorkshire. On the ground floor of a historic Grade 2 listed building. The businesses are in a prime location at the top of the cobbled town square. Grassington is a lovely scenic town at the heart of the stunning Yorkshire Dales National Park. The town plays host to many annual events including Dickensian Christmas Events, a 1940’s weekend in September and the Grassington Festival in June, attracting many visitors to the area. The businesses are well and clearly signed and free parking is available in the square.

Premises

The businesses occupy and share the ground floor of a listed historic building. The premises were split and made as distinct entities about 2 years ago. The tea shop is entered from the town square through a most welcoming and attractive frontage. The lovely quaint café inside is decorated with vintage and floral shades. The 1950’s style theme is evident everywhere from china cups and saucers to the waitresses’ costumes. The tea room caters for up to 32 covers with the possibility of an additional 10 in the adjacent Emporium.The fully equipped and spacious kitchen and service counter is at the back of the café raised up a couple of steps. The tea shop has A3 planning use. The Emporium is accessed either directly through an internal double doorway from the tea room or from the town square through its own front door. The large shop is similarly decorated and fitted to a high standard. The shop is busy with well stocked shelving, display units and furniture. An ideal vintage shop in which to browse !! At the back of the shop is a raised level which accommodates a good quality toilet with facilities and stock room. The price includes all chairs, tables, A board, oven, under counter fridge, drinks display, freezer, coffee machine, till, microwave, deli style counter, coffee grinder, toaster, panini machine, display units, shelving, racks and rails. The assets are valued by our client at £20000.

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