Crombies Restaurant & Café Bar 36-44 Tubwell Row, Darlington, Co Durham. DL1 1PD

OFFERS BASED ON £75,000 (LEASEHOLD)

• Taking £3200 per week (including VAT)

• Rent only £200 per week with secure lease

• Prime town centre location – established 1933

• Only open daytimes – fully licenced, huge scope

• Online presence visit www. crombies.com

Jonathan Ward | Business Broker Tel: 0845 299 0158

LOCATION This business benefits from a prime location in Darlington Town Centre benefitting from a high pedestrian footfall. Crombie’s is a 70 seat licensed café bar and restaurant which occupies the first and second floors of a three-storey building in Tubwell Row, directly opposite the new Tesco Express store and the Cornmill Shopping Centre. BUSINESS This well established business has been in our clients’ family since 1933 and is only now being offered for sale due too early retirement.The business achieves a good level of turnover with a latest closing time of just 5.00pm and there is clear potential to expand the opening hours and potentially develop an evening business. The current essence of the business is quality food and wine at reasonable prices and the business benefits from an excellent reputation both locally and further a field. The purchase of Crombies provides a unique opportunity to acquire one of the oldest businesses in Darlington founded in 1933 by Jamie and Katherine Crombie and passed down two generations to the current owners, grand-daughter Maureen Stehr and her husband Frederick. ACCOMMODATION The business is located on the first floor with second floor accommodation currently used for storage but could be converted into extra trading areas, owners’ accommodation or office space. The premises are well fitted and well maintained, fully equipped for the trade with an extensive range of quality fixtures and fittings. The café bar benefits from excellent views over Tubwell Row and has a suspended ceiling with recessed lighting. There is a bar area offering draught beers and lagers and access to the kitchen. ANCILLARY AREAS A door at the rear of the café bar leads to a fully equipped kitchen and also gives access to the rear. The first floor currently comprises office and storage along with customer WC facilities. LIVING ACCOMMODATION The premises are currently lock up and there is no owners living accommodation – however the second floor could potentially converted into a very spacious 2 or 3 bedroom apartment subject to the necessary consents being granted. TAKINGS Our client informs us the current takings are in the region of £3200 per week (including VAT). GROSS PROFIT MARGIN 68% ACCOUNTS Accounts for the Year Ending 31

st March 2008 show Sales of £141,382net of VAT) and a

Gross Profit of £97,428. We can advise you whether or not we hold accounts for this business, which will be provided once a viewing of the premises has taken place.

ADJUSTED NET PROFIT The available net profit (i.e. after adding back finance costs, depreciation and other expenses) is circa £40,000.

The reconstituted net profit – otherwise known as the adjusted net profit – is the figure the arrived at by adding back to the net profit shown on the profit and loss account overheads which are not operationally specific – such as depreciation. These would be overheads which would not be incurred by owner-operators working in the business full time and it would be assumed the business would be bought for cash without mortgage finance.

EXPANSION POTENTIAL Currently only opening until 5.00pm and closed on Sundays there is clear potential to capitalise on the reputation of the business and open longer hours if required. COMPETITION There is obviously a degree of competition locally – however our clients have exploited their reputation by offering quality products at competitive prices and have managed to achieve a unique position in the market place based both on the historical reputation of the business and the day to day quality of food and service offered. STAFFING Our clients do not work in the business on a regular basis. It would therefore be possible for full time working owners to significantly reduce the current annual wage bill of £41,500 per annum which reflects the business currently being operated under management. REASON FOR SALE The business is being offered for sale to enable our clients to take early retirement. FIXTURES AND FITTINGS We have been advised by our client that the trade fixtures and fittings are all owned outright . HOURS OF OPENING Monday – Saturday 9.30 am – 5.00 pm RENT £10,200 per annum exclusive of rates, service charge and VAT (if applicable) TENURE 10 year lease from 2008 with 3 yearly rent reviews RATES We are advised that rates payable are £3527 per annum. Interested parties should verify these figures with the Local Rating Authority which is Darlington Council ASKING PRICE Business (Goodwill) / Lease / Fixtures & Fittings: Offers invited in the region of £75,000 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. LICENCES The property has a Premises Licence granted by the relevant local authority. It is a requirement of the Licensing Act 2003 that properties serving/retailing alcohol have a designated premises supervisor who must be the holder of a Personal Licence. Prospective

purchasers are advised to take appropriate specialist advice.

PLANNING & STATUTORY CONSENTS

Prospective purchasers or tenants should make their own enquiries of the Local Planning Department and satisfy themselves at their own expense as to the use they intend to implement. It should not be assumed that the property has all the necessary planning, building regulations or other statutory consents.

VIEWINGS

All viewngs 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 FINANCE Lakey & Co will be pleased to make introductions for raising finance for the purchase of a business and all other property. Remember your home/property is at risk if you fail to keep up payments on a mortgage or any other loan secured on it. 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. Confirmation of availability of funds to purchase 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.

We understand that the lease is protected under the security of tenure provisions of the Landlord & Tenant Act 1954 and therefore a tenant should have the right to review the lease subject to certain conditions. Whilst we hope you will find this information helpful, you should, nevertheless, seek professional independent advice from your solicitor.

SALES ADVICE If you are thinking of selling a business please contact us for free and impartial advice. OUR REFERENCE R506NE SALES DETAILS PRODUCED BY / DATE / ISSUE JW 01/10-2

CONTACTING US: Tel: 0845 299 0158 Fax: 0845 299 1219 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. 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.