Property Information
Address:
Swansea, Swansea
Price: Property no longer available.
Size: SOA
Primary Category: Businesses For Sale
All Categories:
Businesses For Sale,
Property Ref/Movehut: MH525692
Property Ref/Agent: 12933-popular-student-caf-and-eacute-with-letting-rooms
*Please use the agent ref when calling the agent directly.
Property description
Hilton Smythe welcomes to the market The Chattery. The caf was originally established by our client in 1977. This is a well-run business that has been completed to a high standard. The owner is now looking to sell the caf, due to the desire to take a well-deserved retirement.
The caf offers a varied menu serving hot and cold meals throughout the day. They sell high quality fayre and have been awarded a 5 star food hygiene rating. The business sees a large amount of repeat loyal trade from the locals and a generous amount of trade from students and tourists.
The business is currently generating an advised turnover of around 103,000 per annum, with a gross profit of 24%, as of 2012 accounts. This is a healthy turnover that could be increased. Evening bistro nights, could bring in more trade for the caf and should maximise the amount of custom.
The business has an alcohol and live music licence. The alcohol licence is until 1am and the music licence till 11:30pm. The caf doubles up as a live music venue, once a month, specialising in American music. Our client currently charges 10-15 each night, this is very popular with students.
Above the caf are 9 student letting rooms, if all rooms are let out, the rooms could generate 28,000 per annum, this is not included in the business accounts. The rent for the whole building is 22,000 per annum, the letting rooms' cover the rent for the building, allowing the business to run rent free.
Social media is a great way of attracting new custom. Included in the sale is the business Facebook page this has over 1,000 likes, this page is regularly updated with photos and event information.
This is a fantastic opportunity that is not to be missed. Hilton Smythe highly advise early viewing to take in the full potential of the trade.TENUREWe are advised the business is being sold as a Leasehold opportunity.
Original lease length: 10 years
Remaining lease length: 5 years as of 2016.
Rent: 22,000 per annumHOURSThe business opening hours-
Monday: 10am - 3pm
Tuesday - Friday: 10am - 5pm
Saturday: 10am - 4:30pm
Sunday: ClosedSTAFFThe business is run and managed by our client, with the help of 5 part time members of staff. The wage bill is around 550 per week.FINANCIAL PROFILEThe business generates a turnover in the region of 103,000 per annum.
Gross profit 24%
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