Financial Details
Asking price: £2,100,000
Sales revenue: £800,000
Net profit: £140,000
Fixtures value: Undisclosed
Stock value: Undisclosed

  • Photograph of this business for sale

Business Description
Advent Business Sales is delighted to have been instructed to offer to the market a quite exceptional café/bar which has tremendous future potential.

Built under the personal supervision of our client 12 years ago to exacting specifications the business is only now being reluctantly offered for sale as he wishes to retire.

Food is served all day until 10pm and there is an extensive range of meat, fish, poultry, vegetarian and vegan meals, which are all prepared in house using fresh ingredients. They also have a wide variety of desserts together with speciality teas and coffees. The menu is constantly changing although they do always retain a few favourites. The entire menu is competitively priced.

The business prides itself on its wide selections of both bottled and draught beers with brands changing on a regular basis.

The premises are very spacious and have a capacity for up to 339 at any one time, most of whom would be seating.

The bar is a firm part of the evening bar circuit, which is very busy on the traditional Friday and Saturday nights with the food side always busy whatever day with an excellent lunchtime trade for shoppers, tourists, students and local businessmen.

Net revenues of circa £800,000 per annum are currently being achieved with a 60/40 split wet/dry, gross margins are approx 64%.

We are advised that stock at cost is approximately £6,000.
REF: 9343CV
General Information
Employees:The business has 10 full time employees including 2 working owners and 8 part time, who average approx 16 hours per week each.
Trading hours:Mon-Thurs: 9am – 11pm Fri – Sat: 9am – 12pm Sun: 12 – 6pm
Property:Leasehold
Lease terms:TENURE: Leasehold Original lease: 99 years Remaining lease: 87 years Review every: n/a Rent: £84,000, ground rent £2,000 per annum We are advised that the annual business rates are currently: £48,000
Location:The bar/café has an outstanding city centre location, which will attract tourists, students, shoppers as well as local business men.

Nearby towns include Warwick, Leamington Spa, Coventry, Rugby and Nuneaton. The area is surrounded by motorways with the M6, M69 and M40 all nearby.

The business is surrounded by council premises and local offices as well as all the major high street names, it is also close to the university and in October 2010 a large new office block with 1800 new employees is due to open.
Expansion potential:This is clearly an exceptional and profitable business, it does however, still offer huge potential to increase both turnover and profits substantially by: 1. Open both earlier and later on Sundays 2. Open until 2am on Friday and Saturday nights 3. Have live music on Friday and Saturdays 4. Advertise the late night events 5. Charge a small late entry fee to encourage customers to arrive earlier – only on Friday and Saturdays 6. A large office block is being built with completion in October 2010, this is due to house 1,800 employees and is less than 100 yards from the premises.
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