Saint Neots Vintage Tea Room and Cocktail Bar with Growth Potential for Sale
Saint Neots, Cambridgeshire
- Status
FOR SALE
- Date Submitted:
17/01/24
- Advert ID
605182
- Reference
B07764 / Rightbiz
- Call Agent:
- Leasehold: £79,999
- Turnover: £156,000 (£3,000 Per week)
- Net Profit: Not Applicable
Business Details
Tea Room And Cocktail Bar For Sale
BusinessPlease quote reference B07764
CoGoGo welcomes to the Betty Bumbles Vintage Tea Room Limited & Bumbles Bar Limited, a unique Tea Room and Cocktail Bar in St Neots, Cambridgeshire.
Founded approximately 10 years ago and owned for the last 5 years by the current owners, Betty Bumbles has gained a loyal customer base and an excellent reputation. This thriving business, fully renovated and beautifully presented, is being sold due to the owners’ desire for a change of direction.
This unique establishment operates as a cosy tea room by day and transforms into an elegant cocktail bar at night.
Key selling points -
- A well-established business with a strong reputation and regular customers.
- Current owners are willing to offer a handover period for seamless transition.
- Ideal for owner-management or a partnership.
- Real opportunity for growth, especially by extending opening hours and outside catering.
Location
Situated in a prime trading location, the business occupies three floors of an attractive grade 2 listed building, rich in character and period features.
Premises
The premises include:
- A tea room with approximately 20 covers on the ground floor, featuring quality furnishings and a quirky design.
- A bright and spacious cocktail bar on the first floor, accommodating 40 covers.
- Outdoor seating for at least 30 covers, with a pavement license till 10.30pm.
- A well-equipped kitchen, office space, utility areas, staff and customer toilets.
Tenure
The business is currently leasehold, with a monthly rolling lease at £30,000 per annum. The landlord is open to negotiating a new lease with the new owner.
Hours
The current trading hours are -
Tea Room: Monday, Wednesday, Friday, Sunday (10am - 4:00pm), Saturday (10:00am - 5:00pm)
Bar: Thursday (until 1:00am), Friday and Saturday (until 2:00am)
Closed on Tuesdays and Thursdays.
Staff
Owner-managed with the help of casual staff as required.
Financial Profile
- Projected turnover: £156,000 for the tea room and £78,000 for the bar.
- Approximate stock value: £10,000.
- Asset value: £30,000.
- Rates payable: Approximately £2,500 per annum.
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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