Business for Sale in Reading, Oxfordshire - Established Sandwich/Coffee Shop - Leasehold: £59,950

Key Information

Ref
TR34775RG
Type
Food Service Businesses: Sandwich Shops
Location
England: Oxon
Tenure
Leasehold
Status
For Sale
Annual Sales
£155,000 Inc Vat
Accommodation
3 Bedrooms
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We are favoured with the instruction of this Sandwich/Coffee shop located in this affluent Oxfordshire location between Henley and Reading. The business is positioned in a busy parade surrounded by other businesses and good footfall. The current owner has had the business since 2013 and has established it as the place to go and enjoy a cup of coffee, brunch, cake or a freshly made sandwich or baguette. The business is fully equipped so the new owner can trade from day one. The premises also comes with an internal seating area as well as a garden which can accommodate further seating. There is good storage in the form of an integral garage and 3-bedroom accommodation which can either be used as staff quarters or rented as a form of income. The business currently trades Monday to Friday, but the new owners could extend the days and hours if desired. The business is priced to sell.

Flemings is located in the Chiltern Hills in South Oxfordshire, approximately 3.5 miles from Henley-on-Thames and 2.5 miles from the north of Reading. It is surrounded by a variety of independent retailers and has good road links to the major towns and amenities. It also has primary and secondary schools nearby. Another advantage the business has in this location is that it has little competition for the service and products it offers.

Formally a detached dwelling, over the years the property has been converted into retail and residential space. Leading from the front door with an open window display to the main shop area which has a chilled display counter which houses the fresh ingredients and cakes. Behind the counter, there is a preparation area with marble tops and an under-cabinet cold store area. The front area also lends itself to having an island with a sink unit behind. There is an archway which leads to a good seating area with table and chairs for about 14 people. There is also an understairs storage area as well as WC facilities. There are patio doors that lead to a garden to accommodate more seating area in the spring and summer months. The added advantage of these premises is that it comes with 3-bedroom accommodation which is currently let out at £985 PCM but can also be used as staff accommodation if required. Outside there is a garage which is excellent for storage and currently houses fridge and freezers.

The business has an excellent reputation and been in the same ownership since 2013. It enjoys excellent google reviews for the quality of goods and service. It offers a variety of goods which includes breakfast, freshly made sandwiches, baguettes, toasties and paninis, hot pasties, sausage rolls, savouries, home-made soup and a selection of fresh teas, coffees and pastries. The business has all the equipment required to trade from day one including a 2 x group “La Spaziale” coffee machine *, coffee grinder, “Asber” Industrial dishwasher, a drinks chiller, oven and hob, microwaves, toaster, fridge, hot plate and grills, hot food cabinet as well as a black markable wall for the menu.

The business is currently run by the owner and two members of staff and once restrictions lift the business is also looking to recruit a further member of staff. The current opening hours are Monday to Friday 7.45 am to 2.30 pm, but these hours could be extended should the new owners wish to do so.

*All the equipment is owned outright apart from the coffee machine which is on a serviced lease agreement for £174.00 per month which includes call outs and yearly servicing. The agreement can be passed onto the incoming buyer should they wish to continue this agreement.

Consistent turnover over the last 2 years accounting period in the region of £155,000 with an adjusted net profit in the region of £37,000.

The current rent is £19,000 per annum, although the accommodation is currently producing an income of £985 PCM. The current lease expires May 2027, with a rent review in May 2022.

The Rateable value is £6900 per annum so falls under the small business rates relief.

2 x full-time members of staff consisting of 1 x Manager who has been with the business 6 years working 37 hours per week, and 1 x Full-time assistant who has been with the business approximately 2 years working 30 hours per week. NB the new member of staff the business is looking to recruit is for 20 hours per week.

Currently trading Monday to Friday 7.45 am to 2.30 pm.

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