Riverside Cottage & Licensed Cafe

Riverside Cottage comprises two joined (back to back) mid terraced properties arranged as a bed and breakfast establishment with 8 en-suite letting bedrooms and owner’s private accommodation on Riverside Road and 32 cover licensed Café on Lynmouth Street with an additional 16 fair weather / smokers outside covers. To the ground floor there is a resident's lounge / potential coffee lounge / owners lounge as well as the 32 cover cafeteria with access from Lynmouth Street the pedestrianised main shopping street through the village. There is a well equipped commercial kitchen with usual gents and ladies cloakroom facilities and the property benefits from oil fired radiator central heating. The property is offered fully furnished and equipped as a going concern to include trade fixtures, fittings and equipment excluding those items of a personal nature The business is operated the lady owner with some help from her husband who has a full time job outside the business she has been developing the trade over the last 15 months and for the first trading year to the end of March 2007 the turnover was £108,000. This compares favourably with the previous years turnover which achieved £72,000. For the current financial year the first eight months from 1st April to December 2008 trading already figures show £110,000. The drinks license is a recent addition and continues to add both to turnover and margin. The realistic projected turnover therefore is likely to reach in excess £140,000 for the current financial year with a profit margin currently trading at 67.6%. The proprietor employs a cook for three days of the week as well as her son who is employed for four days and two waitresses. The restaurant is open daytime from 10:30am till early evening and the average spend per customer is around £3.50 day time trade and when open in the evening during peak weeks around £9.00 for evening trade. The cafe is proving very popular as a venue for families and also attracts the coach trade, day trippers and is well supported by locals. Accounts will be made available to those seriously parties who have inspected the business