Description
Comprising 5 Floors and incorporating a Seafront Licensed Café & 3 Holiday Flats
with Stunning Sea Views!
The Good Life Café, 109A St. Mary Street DT4 8NY
&
66/67 The Esplanade, Weymouth DT4 8DE
Deceptively Spacious Café on Ground and First Floors seating approx.56
including two first floor cosy tea rooms for private parties or overflow; Ladies and Gents Toilets;
Large, Extensively Fitted Kitchen; Ample Storage;
Two x 1 Bedroom Holiday Flats +
Top Floor 2 Bedroom Flat for Letting or Owners
Opportunity for income from the flats to pay entire rent of building
The premises are located at the end of the terrace which has frontage to The Esplanade on one side and St. Mary Street on the other. The building is Grade 11 Listed. The curved end of the building faces the famous statue of King George 111; Location, Location, Location! Very high pedestrian flow.
The premises are held under the terms of a FRI 20 Year lease which commenced in 2019 at a current rent of £25,000 p.a. with 5 year rent reviews.
The Business: A long established business which has been in the present hands since March 2024 and has now closed due to family ill health requiring the owners to relocate to the home counties.
Now, the premises are being offered at a price to reflect the work which new owners will undertake to provide a few new items such as a coffee machine and additional items in the holiday flats to bring the business ready to trade and back to profit. However, the vast bulk of the equipment and furniture will be in place and an inventory will be available before exchange of contracts.
Lawrence Wright oversaw the sale in 2024 and at that time the cafe was highly profitable and run by a husband and wife team with part time staff and was typically opening from 9 am in peak summer to around 3-4pm with later morning opening in the shoulder months.
There is the opportunity to close for a period in the winter for a well earned sunny break.
In addition, the agents were informed by the owners at that time that the holiday flats were run as a separate business and therefore with takings for just two flats at many tens of thousands per annum but below the vat threshold this would not attract compulsory vat registration – the electricity and water are metered separately for each business. An employee carried out all servicing of the flats on change over day and all laundry was carried out by a laundry service. Lettings were arranged through an international company at a very competitive commission rate.
POTENTIAL: The agents have been informed by the landlords that they would have no objection to the first floor being converted to a fourth flat – this would entail planning permission including listed building consent.
Price: Only £49,950 – Opportunity for capital gain (asking price in 2023 – £160,000)
EPC: Exempt
