Clock Stop Café Unit 9, Craigton House, West Terrace, Redcar. Ts10 1DL

OFFERS BASED ON £29,000 (LEASEHOLD)

• Cafe currently taking c£1600 per week

• 36 covers with takeaway consent • Busy location – local and passing traffic

• Scope for deliveries and outside catering

• High average gross profit of c80%

• Superb first time business opportunity

Jonathan Ward | Business Broker Tel: 0845 299 0158

LOCATION This business occupies a busy location in the centre of Redcar with passing foot and vehicle traffic and also benefits from being situated next to the bus stops on the main bus route into this popular seaside destination. Redcar is currently benefiting from significant inward investment with the reconstruction of the sea wall and the vertical pier, which are approximately 200m from the premises; the business can only benefit from these improvements in the future. There are also frequent local events in the town centre square, which is situated directly in front of the business and can be seen in the photo above; again these events enhance the turnover of the business. BUSINESS Our clients established the business some five years ago and it is now only being offered for sale as part of their early retirement plans. The business is well fitted for the trade and has been equipped by our clients at considerable expense; operating as a cafe cum coffee shop with a good mix of eat-in and take-out trade there are clear opportunities to further expand the business in different directions such as deliveries and outside catering. The purchase of this business would provide an excellent opportunity for a first time business buyer to acquire an easy to run business with low overheads. There is an attractive website in place for the business at www.clockstopcafe.co.uk. ACCOMMODATION The business is located on the ground floor of a three storey brick built terraced property. The main entrance gives access to a well equipped trading area with serve over counter and various display fridges in addition to this there is a café seating area which currently provides approximately 32 covers indoors with a mixture of table and chairs and also low level, more relaxed seating. The business benefits from a pavement license which currently allows for an additional four tables and eight chairs to be situated outside the café. A full inventory is available on request. The shop leads through to a spacious prep area, well equipped and with ample working surfaces; staff facilities and access to the rear. There is an allocated parking bay in a private car park immediately adjacent to the rear door. There is a disabled access WC with emergency alarm system. The business also benefits from a remotely operated shutter and CCTV system. The premises are self contained and there is no living accommodation. TRADING PERFORMANCE & ACCOUNTS We are informed by our clients that the business has current takings in the region of £1600 per week. The current gross margin for the business is c80%. Trading figures will be made available to seriously interested parties and our clients are happy to open their books to any

scrutiny required. Please do ask to see the accounts which we hold for the business which will be provided to seriously interested parties upon receipt of our Business Buyer Questionnaire. STAFFING The business is currently managed and operated by staff. It is anticipated that, if required a full time working owner would be able to significantly reduce the current wage bill and potentially further increase sales. FIXTURES AND FITTINGS We have been advised by our client that the trade fixtures and fittings are all owned outright with some new equipment being recently installed. HOURS OF OPENING Monday – Saturday : 9.00am – 5.00pm. Sunday: 10.00am – 4.00pm RENT £12,500 per annum exclusive of rates and VAT (if applicable) There is currently a service charge of around £1100 per annum. TENURE Our clients lease commenced in October 2007 and runs for twelve years with three yearly rent reviews, the next review being in October 2013. RATES We are advised that the business rates payable are approximately £2700 per annum. Interested parties should verify these figures with the Local Rating Authority which is Redcar & Cleveland Council UTILITY CHARGES From the figures provided for the year ending January 2012, utility costs were: electric, £4452, water £520 & telephone £130. ENERGY PERFORMANCE CERTIFICATE In accordance with current legislation an EPC for the premises is attached to these details. ASKING PRICE Business (Goodwill) / Lease / Fixtures & Fittings: Offers invited in the region of £29,000 plus stock at value.

SUPPORT AND TRAINING Our clients will ensure a full and seamless handover of the business. LEGAL FEES Both the seller and the purchaser are to be responsible for the own contractual costs with regard to the business aspect. The purchaser / assignee is to be responsible for all legal costs incurred in connection with the assignment of the lease including the landlord’s reasonable costs.

VIEWINGS

All viewings are strictly by appointment through Lakey & Co. No direct contact should be made to the business. Contact us on 0845 299 0158 or email info@lakeynortheast.co.uk PROOF OF FUNDING To comply with current legislation, we are under an obligation to check as far as possible the financial status of prospective purchasers to enable our client to make considered decisions. We may ask for confirmation of availability of funds to purchase which should be provided to us by your solicitor/bank/building society. LEASES These premises are being made available by an assignment of the current lease. An assignment is the process of passing on or selling a leasehold interest. The lease will normally stipulate that any assignee must meet certain criteria and be qualified as a reliable tenant by the landlord. If you make an offer for the business which is accepted then we will need the names and addresses of appropriate referees including bankers to which we can apply for references in order to seek the landlord’s consent to assign the lease. OUR REFERENCE: N4 SALES DETAILS PRODUCED BY / DATE / ISSUE: JW300712/1

CONTACTING US: Tel: 0845 299 0158 Fax: 0871 314 1603 email : info@lakeynortheast.co.uk www. lakeynortheast.co.uk IMPORTANT NOTICE TO INTERESTED PARTIES – PLEASE READ CAREFULLY

Having received details of this business, we ask that you: 1. Understand and agree that any information regarding any business supplied by Lakey & Co or their clients will be kept strictly confidential. 2. View businesses registered with Lakey & Co by appointment only. 3. Do not contact any owner, staff, suppliers, competitors or customers of any business registered with Lakey & Co. If you visit the business as a customer please do not introduce yourself to anyone working in the business at the time. 4. Do not pass any information supplied by Lakey & Co (or their clients) to any third party other than a professional adviser eg. Bank, solicitor, surveyor, accountant etc. All such information to be returned immediately to Lakey & Co if my interest in purchasing the business ceases. 5. Submit and negotiation any offers direct to and with Lakey & Co

LAKEY & CO for themselves and for the vendor(s) or lessor(s) of this business / property give notice that these particulars do not constitute any part of an offer or contract. Any intending purchasers must satisfy themselves as to the accuracy of the particulars and no warranty is given by the vendor(s), their agents or any person in their employment. Offered subject to contract, prior sale or withdrawal. Sizes quoted are approximate only.