Leasehold Bakery & Tea Rooms Located In East Looe

Leasehold Bakery & Tea Rooms Located In East Looe
3 Bedroom Flat Above
Freehold Available
Highly Profitable
Ref 2389L

Location
This outstanding Bakery & Tea rooms is located in the highly desirable harbour town and fishing port of East Looe in South East Cornwall. Its prominent and highly visible location gives easy access to the many visiting tourists and enjoys stunning views across the estuary. Looe manages to be trendy and yet remains a great family resort with many restaurants and shops to visit all year round. Looe is 20 miles west of Plymouth and seven miles south of Liskeard, divided in two by the River Looe, East Looe and West Looe being connected by a bridge.

Leasehold Asking Price: £49,950 plus SAV (6,000)

Leasehold
New lease available
Term: negotiable
Rent: £25,000 pa
Rates: Zero

Business Description
Veritas Business Sales are delighted to offer for sale this busy Bakery & Tearooms which is located in East Looe. The business has been established for over 60 years and has been in the careful hands of the present owners since 1998. The business is now being offered for sale so that they can concentrate on other business interests.
Since ownership they have refurbished, redecorated and continually invested in new equipment along with fixtures and fittings which are all bought and paid for and included with in the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. Martin’s Dairy is very much owner operated and employs the help of 1 full time and 8 part time members of staff and posted an annual turnover for year ending 31st October 2019 of £402,919 with a GP of £283,397 (70%) which produces a net profit in excess of £100,000. Renowned as being one of the leading independent bakeries in Cornwall where a fine range of high quality products are baked on site and retailed in their very own tea rooms. On offer you have artisan breads, Cornish pasties, sausage rolls, pizza slices, buns, cakes, scones, cream teas, ice creams, specialist teas, coffees and cold drinks.
We believe that there is further potential to increase turnover should you wish as the owners are constantly being asked to supply other local business’s with their quality products but choose not to. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many visiting tourists. This is a superb opportunity to purchase an established business which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.

Opening Hours
Monday – Sunday – 7.00am – 6.00pm
Ground Floor
Bakery/Tearooms (11.2m x 4.2m) comprising: window displays, chiller display unit (Orion), chiller display unit (Bocchini), various glass wall mounted shelves, serving counter with granite top, tables & chairs to cover (24), wall mounted mirrors, espresso coffee machine (Astonia), hot water dispenser (Marco), coffee grinder, 2 blenders, 2 microwaves (Samsung), 2 electronic cash registers, under counter stainless steel fridge freezer with stainless steel top, under counter drinks fridge (Osbourne), under counter cupboards, triple door under counter stainless steel freezer unit with granite worktop, air conditioning unit, sink with drainer and CCTV system (Protech Systems).
Bakery & Kitchen (3.6m x 4.1m) comprising: bread divider moulder BDM (Extec), mixer bowl 20L (Clivane Xport), scales, pizza roller (Fimar), extractor unit, sink with drainer, stainless prep table, baking tray stacking unit and mixer.

First Floor
Prep room (3.7m x 2.7m) comprising: potato rumbler (Metcalfe), potato chipper (Robot Coupe), 2 under counter fridges (Beko), stainless steel prep table, upright freezer (Beko), various shelving and moulder (Crypto Peerless).
W/C with wash basin.

Accommodation
First Floor
Lounge (4.5m x 4.1m)
Kitchen/diner (3.3m x 3.2m) with fully fitted kitchen, cooker (Indesit), dishwasher (Bosch), fridge (Amica) and washing machine (Daewoo)
Bathroom (1.5m x 2.8m) with wash basin, bath/shower and w/c
Second Floor
Bedroom 1 (3.3m x 3.4m) Double
Bedroom 3 (4.1m x 2.5m) Double
Bedroom 2 (2.9m x 1.7m) Single
Business Rates: £5,000

EPC Rating D