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Restaurant/cafe for sale

£29,950

Second Floor, The Lamb Arcade, Wallingford OX10

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Property description

Business
Hilton Smythe are delighted to welcome to the market a well-known cafe.

The business has been an established business for over 20 years but reluctantly our client has now decided to sell due to personal reasons. The cafe / restaurant is mostly known for serving Korean and Japanese dishes alongside traditional teas, coffees and homemade cakes.

Due to the prime location of the business, the cafe benefits from passing trade and high footfall within the area. The business is surrounded by other thriving businesses that include a Waitrose supermarket, Boots pharmacy and a jewellers.

The business is also licensed to sell alcohol up until midnight and is currently a 39 cover cafe which is also a restaurant in the evening with a valid alcohol licence.

The 2017 projected accounts show a turnover figure of £115,000. We feel there is scope to improve this by possibly maximising the use of social media pages, extending opening hours and starting a delivery service which our client has been asked about in the past and with these improvements, the new owner could take the business to the next level. The business also has its very own website which is very well designed and professional which is included in the sale.

We highly recommend an early viewing on this business.

Location
The busy cafe is located in Wallingford, Oxfordshire.

The popular cafe is situated in the heart of the town centre, on the second floor of a beautiful period building. The business is found on a prominent corner of the high street in walking distance to a Waitrose supermarket and the buildings car park. This is a prime location due to the other thriving businesses in the area and constant public transport running through the town centre which increases footfall and passing trade.

The closest bus stop to the cafe is a 2 minute walk away and the local train station is a 5 minute drive from the business.
Premises
The business premises is a large brick complex which is known as The Lamb Arcade and this is home to a mix of over 40 antique and curio shops and is popular with regulars and visitors alike.

The business is very well signed and accessed by the main door of The Lamb Arcade or can also be accessed by a stairway to the rear of the building outside of normal business hours of the arcade.

A beautifully presented and maintained cafe on the second floor of a period building which is full of original features and character. Dual aspect creating a light and airy interior further enhanced by the high ceiling. Intricate ceiling rose, 4 glass chandeliers, attractive bay window, wooden flooring with 39 covers, ceiling cornice and tongue and groove to dado height, 2 feature fireplaces with cast iron inserts and marvelled effect mantle and surround, arched display niche with feature Egyptian sarcophagus, five radiators, built in shelving niche, bespoke l-shaped counter with tongue and groove panelling with a timber worktop, epos till, stainless steel urn, Expobar coffee machine, coffee grinder, tiled backsplash and 2 glass fronted drinks chillers.

Kitchen

Accessed via an arch from the main cafe, the kitchen is a good size and is a comprehensively equipped catering kitchen with a window to side and fitted with a six burner commercial oven, extractor hood, 3 fridges, microwave, twin fryer, grill, griddle, wall mounted Glow worm Ultracom boiler, DC Series dishwasher, stainless steel prep tables, stainless steel splats backs, stainless steel sink and drainer with useful storage beneath, hand wash basin, perimeter shelving.

Ground Floor Store Room

The ground floor is a generous sized room and is currently being used for storage, chest freezers, upright freezer and an American style fridge freezer.
Tenure
We are advised that the business is Leasehold.

The original lease length is 2 years and has 21 months remaining as of 2016.

Rent: £480 monthly including building insurance and bins collection fee.
Hours
The business is open from:

Monday – 10:00am – 5:00pm

Tuesday – Thursday: 10:00am – 10:00pm

Friday - Saturday: 10:00am – 11:00pm

Sunday: Closed
staff
The business is currently run by the owner, 1 full time and 4 part time staff.
Financial profile
The account details are available up on request.

What Zoopla users think of Wallingford

Overall rating:

  • currently 4 stars
Very good - 80% (30 ratings)

Ratings breakdown:

  • currently stars
Community & safety
  • currently stars
Entertainment & nightlife
  • currently stars
Parks & recreation
  • currently stars
Restaurants & shopping
  • currently stars
Schools & public services
  • currently stars
Transport & travel

Rate Wallingford:

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Community & safety
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Entertainment & nightlife
  • currently stars
  • 1
  • 2
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  • 4
  • 5
Parks & recreation
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Restaurants & shopping
  • currently stars
  • 1
  • 2
  • 3
  • 4
  • 5
Schools & public services
  • currently stars
  • 1
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  • 3
  • 4
  • 5
Transport & travel
  • currently stars
  • 1
  • 2
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  • 4
  • 5

Nearby transport

  • Cholsey (2.6 miles)
  • Didcot Parkway (5.2 miles)
  • Goring & Streatley (5.5 miles)
  • London Heathrow Airport (29.8 miles)
  • London Luton Airport (37.5 miles)
  • Southampton Airport (46.1 miles)
  • Shepperton Ferry Landing (32.5 miles)
  • Weybridge Ferry Landing (32.5 miles)
  • Moulsey - Hurst Park Ferry Landing (35.3 miles)

Nearby schools

View all schools in South Oxfordshire
  • St John's Primary School (0.3 miles)
  • St Nicholas' Church of England Infants' School and Nursery Class, Wallingford (0.5 miles)
  • Fir Tree Junior School (0.6 miles)
  • UTC Oxfordshire (6.3 miles)
  • Radley College (8.4 miles)
  • Abingdon and Witney College (8.9 miles)
  • Wallingford School (0.3 miles)
  • Moulsford Preparatory School (3.3 miles)
  • Cranford House School Trust Limited (3.5 miles)
Note: Distances are straight line measurements

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For more information about this property, please contact
Hilton Smythe Commercial, BL1 on +44 1204 351867 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Commercial, and do not constitute property particulars. Please contact Hilton Smythe Commercial for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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