Sold

A Beautifully Presented And Well Established Tearoom

Petworth, West Sussex

£99,995 +SAV

Ref: B04387

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Description

Hilton Smythe are delighted to present to the market Tiffins Tearoom. Established over 20 years ago and purchased by our clients in 2008 and after many successful years of trading have reluctantly decided to sell the business in order to have a better work/home balanced lifestyle.

The beautifully presented Tearoom is a shining example of a lifestyle changing business and offers any new buyer the opportunity to walk straight in and continue trading.

The menu offers a large choice of

• Breakfasts
• Freshly made sandwiches
• Jacket potatoes
• Toasted paninis
• Homemade soup
• Daily specials
• Cakes (including gluten free choices)
• Vegetarian options
• Afternoon teas
• Tea Time treats
• Large list of herbal, fruit and traditional teas, coffees, hot chocolate, cold drinks

The business comes with excellent reviews on Facebook (5 star rating) and over 200 reviews on TripAdvisor with 4.5/5 customer score as well as business website.

Our client advises us turnover is derived from eat in customers with very few takeaway orders, there is lots of potential to develop the outside catering side for local parties, weddings and funerals. There is a ‘Local Traders’ discount scheme currently in place.

The current days of opening and extending hours slightly would also boost current weekly turnover.

Early viewing is essential as business types of this standard and location rarely come onto the market.

Tenure

Leasehold

We are advised the business is been sold as a Leasehold opportunity, with a new 15 year lease in place paying just £9,600 per year. The business benefits from full small business relief paying 0 rates in the current year.

Hours

Monday - Closed
Tuesday - Closed
Wednesday - 9.30am - 5pm
Thursday - 9.30am - 5pm
Friday - 9.30pm – 5pm
Saturday - 9.30am – 5pm
Sunday – 10am – 4pm

Staff

The business is run and managed by our clients with the help of 5-7 part time staff

Financial Profile

Tiffin Tea Rooms generated an advised turnover of £106,352 as of the 2017 accounts, with a gross profit of £74,340 and net profit of £44,723 however the 2018 will show very healthy increase with turnover expected to be in the region of £130,000.

Location

Tiffins Tearoom is located just off the High Street within the heart of Petworth, West Sussex.

Petworth is a beautiful Market Town, a centre of Arts and Culture set in the heart is the South Downs National Park and surrounded by the walls of Petworth House and park.

Petworth has recently been voted as the most desirable place to live and visit within the West Sussex County. It offers a year-round diary of festivals, markets, exhibitions, craft fayres, music concerts and walks.

Petworth town is mentioned in the Domesday Book and particularly known for its stately home and grounds which now belong to the National Trust. The quaint streets are filled with period character houses and independent retailers specialising in antiques, local produce, afternoon teas.

The Town is located just off the A272 and is 6.5 miles east of Midhurst and 16 miles west of Horsham.

There is a large pay and display car park less than 2 mins walk from the Tearoom.

Premises

Ground floor

2 x curved windows allow space for vintage displays with a central door leading into the centre of the cafe space. There are solid wooden chairs and tables in bright colours allowing 28 sit down covers, a period brick-built fireplace in the right corner with electric stove.

A bespoke pink and blue blackboard covers the left-hand wall and central solid wood counter includes:

• 2 x under counter fridges,
• 1 x undercounter freezer,
• Microwave,
• 2 x arm semi-automatic coffee machine and grinder,
• Lincat hot water earn,
• Shelving to 2 x walls.

Kitchen Includes:

• Dishwasher
• 2 x Microwaves
• Stainless steel sink unit
• Undercounter fridge
• Lincat griddle
• Shelving on both walls
• 4 x ring electric oven
• Panini grill
• Toaster
• Rear window overlooking a garden,

There is access to the rear garden for bin storage only.

Cellar:

• Large storage space
• 2 x fridges
• 3 x freezers
• Shelved storage

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