With the tourist season around the corner and Devon set to welcome plenty of staycationers once more, business sales in South Devon’s resort towns are thriving. The latest example, a popular South Devon restaurant and beachside café, at Broadsands, Paignton, which received multiple bids has been sold to The Venus Company, off a guide price of £375,000.
Located on the beautiful Broadsands beach, along the iconic South West Coast Path in Paignton, Broadsands has become hugely popular with locals and tourists over the years, especially during the summer seasons. And thanks to both its reputation and prime location, its recent sale attracted plenty of interest.
The former owner-operators invested significantly into both the business and the property’s design and redevelopment in 2018, and the results speak for themselves.
The reinvigorated facilities provide comfortable internal seating for 40+ and external seating for 180+ with stunning views over the beach and the inclusion of an enclosed glass façade courtyard. There is also the added bonus of an ice cream parlour and a premises licence for on and off sales, all providing a high, gross profit margin.
Behind the scenes, the investment also covered extensive refurbishment and improvement to the well-equipped commercial kitchen, including high-grade professional equipment, together with the commercial store and white goods, and customer facilities.
The new owners, The Venus Company – who own and operate a selection of high quality SW beachside cafés are making a substantial investment immediately to upgrade the kitchen to a Venus specification to deliver a Venus quality product. Once Venus have completed this season they will undoubtedly be looking to build on its success while exploring further revenue streams. The Venus mission to be the ‘greenest café & shop operator’ (and all the policies, procedures, packaging that goes with that) bring a sustainable element to Broadsands Beach.
With Venus having been established in 1958, and currently operating four business, Broadsands was a perfect fit to develop their operation further, given their slogan is ‘loving the beach’, you cannot get much closer to the beach than at the café! This site fits nicely into the Company expansion plans which includes the Old Toll House in Torbay due to open in 2022.
On the transaction, Charles Darrow Director, Jon Clyne, commented: “I have known Michael for many years and we have always discussed their planned acquisition strategy and Broadsands just felt like the perfect fit. Whilst the premium was robust, businesses like this just do not come to the market, hence when it did, we were inundated with interest and offers. I believe this is a real lift for the entire area and look forward to seeing the planned changes bearing fruit”.