Leasehold Village Tea Room And Cafe With Accommodation

Business

Hilton Smythe welcomes to the market the March Hare Tea Rooms.

The business has been operated by the current vendors for just over six months where it has grown rapidly and on an upwards trajectory already showing impressive returns.

Due to family commitments this very rare and exciting opportunity has now become available, offering a truly unique business opportunity with multiple income streams and excellent growth potential for the new owner.

The trading area is set over two levels with 32 internal and 12 external covers which could easily be extended further.

The site has the benefit of an excellent trading location and is a focal point within the village benefiting from a busy passing trade which continues to grow attracting many different groups.

The site has undergone major refurbishment and has been finished to a very high standard, creating a very pleasant trading environment which compliments the current business model as well as offering the new owner options to tweak things further, putting their own spin on the business.

The March Hare currently serves a range of breakfast options, jacket potatoes, panini’s, baguettes & sandwiches along with cakes & pastries, Afternoon Tea, Coffee as well as prosecco and various other alcoholic beverages.

The food offering could be extended further with an option for opening as a Bistro in the evenings which the site could easily accommodate.

The business has the benefit of highly desirable three bedroom living accommodation to the first floor with a separate entrance and postal address. The current vendors are currently renting some space out on the first floor which brings in an additional income and is something the new owner could continue to do so or take a view on living there or letting as a residential dwelling

There is also an additional court yard to the rear of the site and a detached garage.

The March Hare therefore offers a golden opportunity for either an established operator or an individual looking for a fresh challenge with the benefit of a highly desirable site in a sought-after location, which has been fitted out to a very high standard already trading at a desirable level and with huge additional potential.

Location

Situated in the picturesque and much sought-after village of Corby Glen in Lincolnshire 9 miles South of Grantham.

The site is located in the main market place within the village and is easily accessible from both the A1 and A15 as well as the arterial routes in and out of the village to the surrounding areas.

Premises

Period village property located on a corner plot in the village square.

Front entrance into lower ground floor trading area with additional comfy seating, trade counter, condiments rack and sweet trolley.

Display units, all tables and chairs. Steps up to the ground floor with local art and gift cards for sale, tables and chairs, WC, open plan kitchen area with stainless steel preparation facilities, cooker and extractor.

To the rear of the site an additional kitchen and preparation area with fridge freezers and storage binnacles. Entrance to the first floor three-bedroom accommodation with sitting room, bathroom and kitchen diner finished to a very high standard with its own separate entrance and postal address.

To the rear of the site is an enclosed courtyard and detached garage.

Tenure

We are advised the business is being sold as a Leasehold opportunity with the current rent passing at £20,400 per annum with over 9 years remaining on a 10-year lease.

An area on the first floor has been let out generating an additional income of £7,800 per annum

Hours

The opening hours are currently:

Monday to Friday – 8.30 am to 4.30 pm

Saturday – 8.00 am to 4.00 pm

Sunday – 10.00 am to 3.00 pm

Staff

The business is run and managed by the current vendors with the assistance of 1 x full time and 4 x part time staff.

Financial Profile

We are advised the business is currently turning over in the region of £130,000 per annum trading limited hours.