8411L

• Very successful and long established business in an enviable central position in the sought after coastal town of Aldeburgh.
• Stocking/selling 34 flavours of luxury ice cream together with a selection of sorbets and vegan flavours sourced from local artisan ice cream makers and farmers.
• Award-winning ice cream parlour and coffee bar.
• Attractive and eye-catching frontage with outside seating.
• Kitchen area with fridge and freezer storage.
• Separate W/C.
• First floor office.
• Large Storage Room.
• Outside storage area with shared access to the beach.
• New private renewable 10 year lease at reasonable rent of £25,000 pa.
• Advised turnover y/e Nov 2020 circa £154,000 (circa 9 months trading due to Covid restrictions).
• High gross profits circa £100,000, net profit circa £41,000 (allowing for new lessee paying rent and based on circa 9 months trading).

Location

This impressive family run business is in an excellent central high street location in the affluent Suffolk coastal town of Aldeburgh. Aldeburgh is an extremely popular and sought after coastal town and is considered to be one of the jewels of Suffolk. It is also world renowned due to its connection with Benjamin Britten, the founder of the Aldeburgh Festival which takes place every year. Aldeburgh has an array of interesting local shops and cafes and is famous for its fish and chips and this ice cream parlour. The ice cream is made by local farmers using local produce. There are also the fresh fish stalls on the beach offering daily catches and smoked fish. Aldeburgh has a population of around 2,300 and it is a very popular place for holiday makers and visitors to the area all year round. There are 3 major hotels and a large number of bed and breakfast establishments and self-catering holiday accommodation. The market town of Woodbridge is circa 30 minutes away and the large town of Ipswich, with its many shops, cafes and leisure facilities and major league football club is also within easy driving distance.

THE PROPERTY

Is a 2 storey building of brick construction under a pitched tile roof. It has an impressive frontage in a very enviable central position and has been well maintained throughout.

PARLOUR/COFFEE BAR (seats circa 12)

Has a bright and vibrant modern feel with tiled floor, coffee bar counter, seating with high stools, tables and chairs. There is a very impressive fully equipped ice cream counter offering 36 flavours with a heated cone dispenser (equipment not tested), coffee station with an Expobar Coffee Machine, two bean to cup and one standard coffee grinder, soft drinks and cake fridge and non-slip flooring. It is also tastefully decorated to a very high standard.

OWNERS ACCOMMODATION

PRIVATE ACCOMMODATION

Which is located on the first floor comprises of an office and large store room which could be converted into living accommodation subject to planning permission. There is also a compact kitchen on the ground floor with fridge and freezer storage

EXTERNAL

There is an attractive al fresco seating area for up to 8 covers which is very popular especially during the summer months. There is also a private area with W/C and further storage with a shared access to the beach.

TRADING HOURS

We are advised by our clients that prior to Covid 19 they traded for circa 11 months of the year.

Opening hours were:

Mon – Sun 11am to 5pm

Current opening hours are:

Mon Closed

Tue – Fri 11.30am to 4.30pm

Sat & Sun 11.30am to 5pm

GENERAL REMARKS

The business is offered for sale as a new highly favourable 10 year Private Fully Repairing & Insuring Lease Agreement.

The asking premium will be £45,000

The initial annual rent will be £25,000

The annual rental is simply RPI linked to inflation every 3 years, hence no market rent reviews.

Rent payable monthly in advance.

Deposit equivalent of 3 month’s rent.

Lease assignable after initial 2-year period.

Each party responsible for own legal costs relating to the transaction.

Satisfactory references will be required on behalf of our vendor client.

We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium – subject to the provision of the Landlord & Tenant Act 1954.

We are advised that the business benefits from all mains services with electric for heating and cooking (services not tested). Business rates payable are advised as currently being Nil.

THE BUSINESS

Our vendor clients have owned the business since 1995 during which time they have built up a highly successful, well established and profitable trade not only from the local community and surrounding areas, but also from the thousands of holiday-makers, tourists and visitors to the area all year round. The business is currently being run by the owners full-time and 4 part-time staff.

After many successful years our vendor clients have now decided to sell the business in order to take life at a more leisurely pace.

We are advised that for year ending 30 November 2019 accounts declare takings of circa £190,000 (inc. VAT) - we are informed this was for circa 11 months trading. For year ended 30 November 2020, we are advised that turnover was circa £154,000 (inc. VAT) – we are advised this was for circa 9 months trading only (due to government restrictions). Our freehold vendor clients (who are creating the new lease) declared for this circa 9 month period (2020) a net profit of circa £66,000. Consequently, based on these accounts if hard working/committed new lessee operators were to trade similarly/successfully this would result in their net profit being in the region of £41,000 (after paying the very reasonable rent of £25,000). Obviously this relates to only a circa 9 month trading period and therefore there is genuine increased turnover potential.

There is further growth potential to build on this solid foundation by extending the opening hours especially during the summer months and to introduce a light bite offering such as paninis, baguettes etc.

Website Ives (as follows):

https://www.ivesices.co.uk

Accounting information will be made available to interested parties after viewing.

This business was viewed by Geoff Bryan who would be delighted to discuss further details and can be contacted on 07887 571720.

Viewing appointments can be made by emailing Guy Simmonds at sales@guysimmonds.co.uk or by contacting Geoff Bryan on 07887 571720.

All personal viewings undertaken must adhere to the evolving Covid-19 Government guidelines.

Details prepared October 2021.