TIFFINS OF COWES127 HIGH STREET, COWES PO31 7AY 207137

CHARTERED SURVEYORSCOMMERCIAL PROPERTY AGENTS

RETAIL

INDUSTRIAL

OFFICE

INVESTMENT

BUSINESS TRANSFER

DEVELOPMENT LAND

MANAGEMENT

RENT REVIEWS

LEASE RENEWALS

VALUATIONS

ARBITRATION

ACQUISITIONS

EXPERT WITNESS

HISTORIC BUILDINGS

CONSULTANCY

DIRECTORS

NICK BUCKLE BSc(Hons) MRICS

GAVIN CHAMBERS BA(Hons)

GRANT HIGGS

JAMIE WHITTLE BSc(Hons) PgDipSurv MRICS

SHAUN WOOLFORD MBA BSc(Hons) Dip Proj Man MRICS

REGISTERED OFFICE

62 High Street, Newport, Isle of Wight PO30 1BA

Registered in England and Wales No. 6477562

Vat No. 928 0215 39

62 HIGH STREET NEWPORTISLE OF WIGHT PO30 1BA

TEL 01983 822555___________________

MERRITTS FARM

WHITE HORSE LANE

WATERLOOVILLE PO7 6QL

TEL 02392 257224___________________

EMAIL enquiries@gullyhoward.com

www.gullyhoward.com

EXCEPTIONALLY SUCCESSFUL TAKE-AWAY & CAFE

Long established eaterie and take-awaybusiness in a prime location Cowes HighStreetSet in one of the busiest parts of the town andclose to the MarinaExtensively equipped & profitable businesswith substantial turnover in supply onlyordersFor sale at offers "in the region of" £125,000 for the business, ffgw plus s.a.v.

LOCATION

Tiffins of Cowes is located in a prime Cowes High Street situation directly adjacent to the entranceto Cowes Yacht Haven and opposite to The Anchor Inn public house. Sainsbury's and severalupmarket fashion retailers and eateries are also nearby. Cowes is an internationally renownedYachting centre and has a buoyant racing scene, bringing high spenders to the town during theseason and beyond with many sailing Regattas extending the core season. Tiffins is well placed andestablished to supply the Yacht Clubs and event organisers with food products and packed lunches.This plus a resident population of around 18,000 ensures that Tiffins has all year round trade.DESCRIPTIONThe café runs to a total of approximately 121.4 sq.m (1,307 sq.ft) with a storage area to the rear andbenefits from a large glazed frontage to the High Street. The premises are very well presentedthroughout and the main cafe area has recently been reconfigured and refurbished catering foraround 60 covers plus some external seating to the front of the property. A large servery caters forboth in-house and take-away trade. To the rear of the premises, are preparation, wash-up andstorage areas, extensively equipped for the trade, including a walk-in chiller. THE BUSINESSEstablished for nearly 25 years and traded by our clients for 15 years, Tiffins is one of the busiestbusinesses of its type on the Island. This is very much a "hands on" owner driven business and wouldideally suit a 2 partner team in order to maximise profits and keep wage costs to a minimum.Signficant turnover is derived from the sale of take-away sandwiches, baguettes, pastries and hotand cold drinks supported by the order and supply of food stuffs and packed lunches to the localYacht Clubs and Event Organisers during the busy and extending Summer Season. This is a familyrun business which is offered for sale as our clients are wishing to retire and move to the mainland.The business has a buoyant turnover and healthy profits and detailed accounting information can beprovided to Bona Fide applicants following a viewing of the Cafe. Tiffins is currently run as a limitedcompany and either a sale of the share issue or assets and goodwill will be considered, subject toterms.

OPENING HOURSOpening hours are normally Monday to Sunday 8.30 a.m. to 4.30 p.m.THE LEASEA 15 year term from 16th November 2008 granted by the Cowes Town Waterfront Trust Limited. The current passing rent is £24,000 +VAT per annum exclusive with rent reviews scheduled at 5 yearly intervals. The large Kitchen is held on a separate lease with a currentpassing rent of £5000 +VAT pa. This includes Water and Rubbish collection.UNIFORM BUSINESS RATERateable Value - £23,2502019/2020 � £0.504p without small business relief. Interested parties should make their own enquiries of the Isle of Wight Council toconfirm any rate liability or rate concession that may be applicable by telephoning Busines Rates on 01983 821000.TERMSFor sale at offers "in the region of" £125,000 for the benefit of the trade fixtures, fittings and goodwill of the business, simultaneous with anassignment of the existing lease. Plus stock at valuation on completion.INDICATIVE INVENTORYAn indicative inventory is available at the offices of Gully Howard Commercial Property in Ventnor. VIEWINGStrictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO381EJ. Contact Gavin Chambers or Jane Bauldry on 01983 301 434. E: gchambers@gullyhoward.com or jbaldry@gullyhoward.com.Under no circumstances should approach be made to staff or personnel within the premises as they will be unable to assist you.

Whilst these particulars are believed to be correct neither the agent nor the clients guarantee accuracy nor are they intended to form part of any contract. We have not carried out any survey. All offers are subject to formal contract. Interested parties must satisfy themselves independently as to VAT in respectof any transaction. Gully Howard Chartered Surveyors and staff are not able to give any warranty or representation in connection with this property andhave not tested any plant, purchasers must satisfy themselves as to its condition. Plans are shown not to scale and for identification only, dimensions areapproximate and location plans may not show all current occupiers.