Fri, 15 Oct 2021 | COMMERCIAL PROPERTY
A group of businesses located on the seafront in the popular coastal resort town of Sidmouth are up for sale with an asking price of £3 million. The sale includes five freehold businesses, as well as an owner’s flat and two holiday rental apartments.
The businesses included in the sale are the Mocha restaurant and café, the Ice Cream Paradise ice cream parlour, Prospect Place fish and chip shop, Toto’s dog accessories shop and a beauty salon located above Mocha.
As a result of their prime location in one of the Jurassic Coast’s most popular towns, the businesses benefit from high year-round footfall, with their popularity likely to be further boosted by the increase in domestic holidaymaking during the COVID-19 pandemic.
The sale of the portfolio comes following the decision of co-owners Nigel and Graham Stout to semi-retire after 35 years. The sale will be handled through the hospitality division of business property adviser Christie & Co.
Nigel and Graham Stout commented: “We have traded from the premises for a number of years and business has always remained strong. We have decided that, at this stage in our lives, we require a fresh challenge and have reluctantly decided to sell.”
“The collection is recession-proof and has thrived post-pandemic, supported largely by the prime seafront trading position and multiple income streams, so we look forward to handing over the keys to a new owner who can take the business forward.”
The sale process is being headed by Mark Blackford, Associate Director of Christie & Co’s Hospitality division, who said: “We’re delighted to bring to market Sidmouth Properties on behalf of Nigel and Graham.”
“The staycation boom that we’ve seen as a result of the pandemic is likely to continue over the next few years, so the businesses are ideally placed to benefit from this trend. This is a fantastic opportunity to acquire an extremely profitable investment with high yields and ‘easy to lease’ units, in a highly desirable seaside town.”
One of the best ways to find properties below market price is to look at recent administrations.
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