The property comprises a three-storey black and white timber framed building dating back to 1610 which has been modernised over the years but retains many attractive features and a wealth of exposed original timber work. The premises are fitted out to a high standard.
Ground floor retail area with seating for approximately 20 covers, door to the fully fitted kitchen and bakery, separate door to attractive rear garden for approximately 50 covers with male and female WC’s. On the first floor there are further seating areas with capacity for 50 covers. On the second floor there is a further seating area with capacity for 20 covers, general office and male and female WC facilities.
Hathaway Tea Rooms has been trading since 1931 and is Stratford’s oldest tea room. There has been substantial investment in the fabric of the building over recent years and in the business. In addition to an upgraded kitchen there is a separate bakery area which offers the opportunity to supply other businesses in the town to increase the turnover. The current business has a close relationship with coach parties visiting the town and this again offers further development. Total covers inside 90 approx.
Monday – Friday 9.30am – 5.30pm
Saturday 9.00am – 6.00pm
Sunday 10.00am – 5.00pm
Sunday is the second best day of trading.
Annual net turnover Y/E 31.05.17 £301,000.
Net profit before depreciation c £36,000.
Further financial information is available on request.
The premises are held on the balance of a 15 year lease from 19 April 2011. The rent review due in 2016 has been put back to 2018. There is a further review in 2021.
Rent - £27,000 per annum exclusive.
The tenant contributes a maximum sum of £3,000 per annum towards structural repairs. Further details on application.
Sale Price - Offers are sought in the region of £245,000 for the valuable business including the lease and extensive inventory.
Rates Payable - £14,000 Approx for the current year.
Fixtures & Fittings - The business is well fitted throughout and an inventory of equipment is to be included in the sale price. A full inventory will be prepared.