New Street, Cromer

  • Availability: Sold STC
A stunning modern restaurant located in the heart of Cromer, with panoramic sea views, additional café area and bars. Recently refurbished to a high standard and available to purchase now!...
Sold STC

Key Features

  • Modern restaurant in stunning Cromer seafront location
  • Fully refurbished to a high standard
  • Additional Café area and two bars
  • Set over 2000 sqft
  • 8 years remaining on lease
  • High turnover
  • Room for growth
  • Beautifully presented dining areas
  • High spec commercial kitchen
  • Grade II listed pier

Full property description

A stunning modern restaurant located in the heart of Cromer, with panoramic sea views, additional café area and bars. Recently refurbished to a high standard and available to purchase now!

Paul Hubbard proudly presents this remarkable seaside restaurant, a true jewel in Cromer. It's not just a place to dine; it's an experience in itself. Inside, you'll find a modern restaurant exuding elegance and sophistication, inviting guests to savor exceptional cuisine in a meticulously curated ambiance. With seating for up to 120 patrons, it accommodates both intimate gatherings and larger celebrations. A chic bar complements the restaurant, offering a space for masterful mixology and socializing. Meanwhile, a distinct café area provides a more relaxed setting for morning coffee, afternoon tea, or quick bites. What truly sets this establishment apart, however, is the awe-inspiring panoramic sea view. Whether it's the golden sunrise or tranquil sunset over the water, this view transforms every meal into an unforgettable moment. Cromer's dining scene has just been elevated to a whole new level.

Cromer, an enchanting Victorian seaside town nestled in the heart of North Norfolk, beckons with its timeless coastal charm and breathtaking natural beauty. With a coastline celebrated for its daily fish catches, including the renowned Cromer crab, and an illustrious Grade II listed pier extending 151 meters, it offers residents a quintessential coastal lifestyle. Cromer is more than just a destination; it's a way of life, attracting both locals and second-home buyers from London and other major cities. The town's quaint streets are lined with a mix of historic and modern architecture, and its stunning sea views provide a picturesque backdrop for a myriad of outdoor activities. Cromer is not just a place to live; it's a place to create enduring memories by the sea. Cromer's Grade II listed pier, with its origins dating back to 1391 and an impressive length of 151 meters, serves as a unique attraction in the town. It is one of only five piers in the UK that offers daily live entertainment, making it a distinctive draw for visitors and tourists. This aspect creates additional opportunities for the business to capture the attention of individuals frequenting the pier and seeking dining options.

The current proprietors have allocated substantial capital for the enhancement of this business property. In 2022, they invested £150,000 in comprehensive refurbishment works, which encompassed interior renovations and the installation of a fully equipped professional kitchen. These upgrades are essential for enhancing operational efficiency and customer satisfaction. An additional £70,000 investment was made during the COVID-19 lockdown to adapt the business to changing circumstances. These investments have significantly improved the business infrastructure.

The Restaurant
Offering an exquisite dining experience with captivating sea views, this establishment boasts an elegant interior designed for contemporary sophistication. Notably, it provides accessibility with dedicated disabled toilets and a commodious lower-level lobby housing facilities for both male and female guests. Furthermore, this unique space accommodates two distinct bar areas, each creating an enchanting setting that connects seamlessly to a private café area and the well-equipped kitchen. On the ground floor, a conveniently located office and a separate kitchen prep room contribute to the seamless operation and management of this remarkable establishment.

The Kitchen
This cutting-edge commercial kitchen is a state-of-the-art culinary haven, where innovation meets precision. Newly outfitted to the highest standards, it features a suite of modern equipment, including multiple ovens and strategically designed prep areas. The kitchen is equipped with the latest technology, highlighted by a digital ordering screen that streamlines operations and enhances efficiency. Whether it's the precision of the cooking process, the orchestration of culinary artistry, or the seamless handling of customer orders, this high-end kitchen sets a new standard for culinary excellence.

The Café
This vibrant establishment, currently operating as a delightful Pink Paradise which has skilfully captured the essence of the coffee and cake market. Recently renovated, it has swiftly emerged as the ultimate destination for those with a sweet tooth. What's particularly noteworthy is that the business name is not included in the existing purchase agreement, offering a fresh canvas for new owners to continue building on the remarkable reputation it has already earned. This is a turnkey opportunity for entrepreneurs seeking to step into a thriving coffee and cake haven with the freedom to shape its future identity.

The business is secured with a lease boasting eight years of tenure, accompanied by an annual lease cost of £37,500. This extended lease duration provides a stable foundation for prospective buyers to plan long-term business strategies and investments. The business boasts an impressive annual turnover exceeding £620,000, translating to a weekly revenue of approximately £11,900. This robust financial performance underscores the business's stability and profitability. Furthermore, the prospects for growth are noteworthy. By optimizing opening hours, such as operating daily during the off-season to capture the local market or expanding operational days during the high season, there's substantial potential to further enhance revenue. These strategic measures can tap into untapped market segments and maximize the business's revenue potential.

The business operates with specific and structured opening hours. The café is open five days a week, from 10 am to 5 pm, and Lily Mais, the restaurant component, operates during the same five days, from 12 noon to 9 pm. These hours provide a well-organized schedule for both staff and customers. There is an opportunity to optimize these hours to accommodate different customer segments and potentially enhance revenue.

In summary, this Cromer-based business offers an appealing opportunity, given recent substantial investments, a prime location, impressive turnover, and various growth prospects.

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Sold STC

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