Cowling Commercial Property Directory

A PROMINENT & ESTABLISHED TOWN CENTRE DELICATESSEN

 A contemporary business showing year on year growth
 Ideal husband & wife / partnership venture
 5 Star Food Standard Agency Rated
 Treble fronted shop unit close to High Street
 6 day trading summer months, 4½ day trading winter months
 Sold with inventory inc. Blue Seal Turbo Fan oven, 2 chilled serve overs, etc., etc,.
 Services : All mains connected

LOCATION

Geographically, Barnstaple sits on the banks of the River Taw near the North Devon coastline.  The area enjoys a unique topography with an extensive sandy beach coastline and close proximity to Exmoor National Park. Barnstaple has expanded from its market town origins, to become the area's Regional Centre.  Several national house builders are completing residential developments within the town and its suburbs.   Commercially the town contains many of the major national retailers and several edge of town developments have been completed.   The sustained wealth and growth of the area has been enhanced following the building of the A361 linking North Devon to the M5 at Tiverton.  The road network has been further enhanced by the construction of the new downstream bridge at an estimated cost of £40m.

THE SITUATION

The subject property is located towards the top of the busy retail thoroughfare known as Butchers Row, adjacent to the historic Pannier Market and close to the town's High Street.  

THE PROPERTY AND CONSTRUCTION

Constructed around 1855, the Grade II Listed Butchers Row comprises of a parade of lock-up retail shops including butchers, fishmongers and greengrocers.   The property provides a treble fronted shop unit with kitchen / preparation area and walk-in chiller.

THE PROPOSAL

Our clients are inviting offers for the leasehold interest.

THE LEASE

Being an assignment of the existing 7 year lease from the local Council, at a current rent of £8,000 per annum exclusive.

THE BUSINESS

The premises are currently owner operated by our lady client with a pool of three members of staff.     It is thought a husband and wife / partnership could reduce these staffing levels which currently meet our client's own personal needs.   During the summer months, the business is operated 9.00 am - 5.00 pm Monday - Saturday with the same hours during the winter, although only open 4½ days per week.   Our client has owned the business for approximately four years, having built up an established current clientele.   The last three years show increased turnover of £84,000, £92,000 and £102,000, with the latest year providing an abridged net profit of near £25,000, subject to staff wages.   On the last inspection, the premises achieved 5 Star "Score On The Doors" Rating.

AGENTS NOTE

The owner is prepared to offer training as a handover period.

MAIN LINES

The premises is traded as a traditional delicatessen with emphasis on local produce offering a wide range of cooked meat, salamis, olives, cheese, pastries and clotted cream.   As well as home-made fayre, there is a wide range of cooking ingredients, pastas, olive oils, spices, etc,.  The summer season is enhanced with the ice cream kiosk selling locally made ice cream and freshly made crêpes.  Christmas is a very popular time of year with hampers, gifts and continental produce.

There is a potential to expand the business with outside catering, takeaway and sandwich trade.

THE STOCK

Any current stock to be purchased at valuation upon completion, estimated at £7,000 - £8,000.

THE INVENTORY

The property is sold with an inventory of trade fixtures, fittings and equipment.

VAT

Payable, if applicable, at the prevailing rate.

THE ACCOMMODATION (comprises)

SHOP
28'9 x 15'4 (8.75m x 4.65m) Vinyl floor, shop lighting, 2 chillers, assorted shelving display tables, basket, 2 chiller serve overs, meat slicer, wash hand basin, hot water heater, 2 pairs of electronic scales, Blue Seal Turbo oven, ground coffee machine, 2 microwaves, 2 chest freezers, till, ice cream freezer (free loan), crêpe machine, walk-in chiller unit

KITCHEN / PREPARATION AREA
Eye and base units, stainless steel sink unit, hot water heater, electric oven, gas hob, extractor fan

Commercial Funding

With approaching 30 years experience in the commercial funding sector, Mike Quinn heads up our ‘Sister Company’ Cowling Commercial Finance Limited.  No matter where you purchase a business, or which agent you purchase through, Mike would be happy to discuss any required finance.  For further information, please contact Mike Quinn on 01271 375555.

IMPORTANT NOTICE
Cowling Commercial for themselves, and for the Vendors of this property whose Agents they are, give notice that:
1.  The Particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract.  Prospective purchasers should seek their own professional advice.
2.  All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
3.  No person in the employment of Cowling Commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of Cowling Commercial, nor into any contract on behalf of the Vendors.
4.  No responsibility can be accepted for any expenses incurred by any intending purchaser in inspecting properties which have been sold, let or withdrawn.

PROPERTY MISDESCRIPTIONS ACT 1993
1.  All measurements are approximate.
2. While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact Cowling Commercial and we will be pleased to check the information for you, particularly if contemplating travelling some distance to view the property.
3. We do our utmost to comply with this Act in full.  However we are also trying to represent our clients’ properties in their high possible light, as such we may use summer photographs to promote some properties.

VIEWING
By strict appointment through the selling Agents, Cowling Commercial, Commercial House, 11 The Strand, Barnstaple, North Devon. EX31 1EU
TEL: (01271) 375555 FAX: (01271) 377674

SURVEY AND VALUATION
Cowling Commercial have an experienced fully qualified Chartered Surveyor who will provide Survey/Valuation and planning and development advice on any business being purchased.  Contact Charlotte Luckett MRICS if you require professional services.