Description
The T Shop, 11A Trinity Street, Weymouth, Dorset DT4 8TW
Home Made Cakes; Cream Teas etc. Superb Location facing the Harbour in busy tourist visited area opposite the Portland Ferry mooring.
Lock Up Tea Room in Period Property;
Seating for 14 inside and up to 40 outside; Fully fitted Kitchen and Wash Up.
Teas, Coffees, Light Lunches; Jacket Potatoes; Crab Sandwiches
The Business: A well known tea room with an excellent reputation which is predominantly run by one proprietor and part time staff; The shop front is regularly changed by the proprietor and items displayed are themed – this has become a talking point in the area and attracts a following. This seasonally run business has taken as much as £1329 in one day and regularly achieves £1,000 per day in the high season and opens from March to October each year and the agents are informed has achieved an annual turnover of approx. £78,000.
This is an easily run business that has no cooker, only a sandwich grill, toasters, grill, microwaves etc. some home baking is done but that is optional. The business is only open for around 8 months from choice and this location is outstanding so all year trade is available and if the business trades above the vat threshold of £85,000 p.a. turnover the Flat Rate VAT Scheme would be available @ 12.5% ONLY, NOT THE FULL 20%.
Under the terms of the lease no cooking or frying can take place but the business can open from 8.30 am to 6.30 pm 365 days a year.
Agents Note: Lawrence Wright is the main agent for guest houses in Weymouth and sees that a growing number of visitors to Weymouth are now spending up to £250 per night in the season for bed and breakfast; guests who have a higher discretionary spend have spawned the likes of Rock Fish Restaurant and Les Enfants Terrible Restaurant in Weymouth – there is the opportunity to keep the traditional fare offered at The T Shop but add maybe: gourmet salads, smoked salmon sandwiches, sea food platters etc.
The business is now available due to retirement.
Tenure: The landlady has agreed to a two year extension to a 10 year lease from March 2016 (i.e. expires now in March 2028 allowing for 5 full seasons) opted out of the1954 Landlord and Tenant Act with indexed linked rent reviews at a current rent of £13,250 p.a. in addition, a rent to Dorset Council of approx. £450 p.a. for the outside seating area. Alternatively, for a small premium a five year extension to the existing lease is possible at the five year point by mutual agreement.
The business is exempt from paying business rates as the rateable value is below £12,000
Price: £39,950 for the lease, goodwill, fixtures, fittings, furniture and equipment.
EPC: Exempt. Grade II Listed.
