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Property Listing Details

Restaurant/cafe for sale

Church Road, Bishops Cleeve, Cheltenham GL52

£45,000

Description

Business
Lowry’s Espresso Bar and Chocolatier is a popular coffee shop and chocolatier business situated in the thriving village of Bishops Cleave, a few miles from Cheltenham.

The business was established in April 2014 by the current owners who have built up a loyal customer base and are now bringing it to the market due to them moving on to other opportunities.

Turnover has been in the region of £70,000 consistently for the 4 years of operation and gross profit is around 70%.

Turnover in the main is generated from the sale of superb quality coffees, teas, freshly prepared sandwiches and light lunches, breakfasts and homemade cakes and treats.

Lowry’s is also well known in the area for their excellent Hot Chocolate drinks made with melted Belgium Chocolate. Extra income is generated by the handmade chocolate side of the business and offering chocolate truffle making workshops.

The business has an excellent reputation within the area, which has generated a very loyal client base with a large amount of repeat trade and word of mouth referrals. The current owners have scaled down their opening times over the past two years and they currently open from 8.30am to 3pm 6 days per week.

There is an obvious scope for extra income just by extending opening hours and opening Sundays.

Lowry’s consist of four units within one, having three seating areas; the upstairs seating and chocolate workshop space with 12 covers and outside seating available (well used during the summer months) offering 14 covers. A total of 46 covers when full.

The other two units consist of a well-equipped kitchen area, fronted by a serving counter/till area and a stock/store room upstairs (easily converted for extra seating or could be sub-let for extra income if required).

Due to the owners’ lifestyle choices, Lowy’s offers great potential for further income or offers a great opportunity as a turnkey business which could be operated directly after purchase with little change.

The sellers are very flexible and are offering chocolatier training and Barista training if required after purchase.

The site would benefit both an established operator looking for a foot hold with this stunning area of the Cotswolds as well as an operator looking for a fresh challenge but with the added benefit of taking on a well-established site with a strong turnover and gross profit with further opportunity for expansion. A turn key business opportunity not to be missed.

The business has an informative and easy to navigate website . There is also a strong social media presence with excellent Trip Advisor ratings.

This is a great opportunity for a buyer who would love an established business with further potential. Early viewing is highly recommended.

Location
Lowry’s Espresso Café Bar and Chocolatier is situated in an attractive courtyard location, in the very popular and sort after area of Bishops Cleeve, less than 4 miles from the centre of Cheltenham and only around 7 miles from Tewkesbury.

The village lies at the foot of Cleeve Hill, the highest point in the Cotswolds and borders Woodmancote on the East side of the Gloucestershire Warwickshire railway line that splits the two parishes. Bishop's Cleeve has a population of 10,612.

Cheltenham, also known as Cheltenham Spa, is a regency spa town and borough which is located on the edge of the Cotswolds, an Area of Outstanding Natural Beauty in Gloucestershire.

The town hosts several festivals of culture, often featuring nationally and internationally famous contributors and attendees. The list of festivals includes: The Cheltenham Literature Festival, the Cheltenham Jazz Festival, the Cheltenham Science Festival, the Cheltenham Music Festival and the Cheltenham Food & Drink Festival.

It is also the home of the flagship race of British steeplechase, the Gold Cup, which is the main event of the Cheltenham Festival, held every March.

The population in 2014 was approximately 116,000 making this a very busy town, which has good access to all surrounding areas via the M5 motorway and A40 trunk road, to Oxford, Birmingham and London.

Premises
These are easily managed, good-sized premises, covering approximately 87 sqm over 2 floors.

There are 3 main seating areas with 46 covers in total:-
The coffee lounge downstairs with 20 covers,
Upstairs seating and chocolate workshop space with 12 covers, and
Outside seating area offering up to 14 covers (very busy in the summer months).

A large commercial kitchen is located on the ground floor.

Toilet facilities for customers a separate staff WC.

To the first floor is a large office/store room which could easily be converted for extra seating if needed.

The business is being sold with an extensive range of good quality equipment, to include:
•Especiale 240 coffee machine
•2 display chillers
•3 induction hobs
•2 electric ovens
•Dishwasher
•Fridge
•2 x mini fridges
•Ice cream freezer
•Further freezer
•Tables, chairs, sofa’s etc
•3 coffee tables,
•Extensive kitchen utensils, a range of quality crockery
•Various prints and drawings.

There is also equipment that comes with the chocolate side of the business if required subject to negotiation.

An internal inspection is a must to appreciate all that’s on offer.

Tenure
We are advised that the business is being sold as a leasehold opportunity, with a 6-year renewable lease, having just under 2 years remaining.

The rent payable is £14,024 per annum, paid quarterly.

Hours
The business currently opens:-

Monday to Saturday- 8:30 a.M. To 3.00 p.M.
Sunday closed

There is the potential to extend opening hours.

Staff
The business is currently run by the owners and some other occasional staff for some Saturdays and busier times.

Financial Profile
The accounting information shows a turnover of £72,662 for the year to the 5th April 2018 with a gross profit of £53,466 and a very healthy net profit of £23,977.

According to the voa website the current rateable value is £10,100, however the business does benefit from small business rate relief so has no rates to pay at present.

Floorplan

No floorplan available

Contact the agent

Map

Local map of the area

Map and Street View Map showing location of property

Local Amenities

  • Bishops Cleeve Primary Academy 0.1 miles
  • Cleeve School 0.5 miles
  • Cheltenham Spa 3.9 miles
  • Ashchurch for Tewkesbury 4.1 miles

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Property descriptions and related information displayed on this page are marketing materials provided by Hilton Smythe Commercial. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Hilton Smythe Commercial for full details and further information.