Sidmouth Properties, a collection of five freehold businesses on the Sidmouth seafront in South Devon, has been brought to market through Christie & Co, for offers over £3m.
The investment opportunity comprises: Mocha On The Beach cafe-restaurant, an ice cream parlour - Ice Cream Paradise, Prospect Plaice Fish & Chip Restaurant, beauty salon, retail unit, two holiday apartments and an owner’s flat.
The well-established and successful businesses are located on the corner of The Esplanade and Prosect Place, opposite the beach in the popular seaside resort of Sidmouth, a beautiful coastal town along the Jurassic Coast that benefits from high footfall throughout the year.
The current owners, brothers Nigel and Graham Stout, have owned the businesses for the past 35 years and have made the decision to bring the portfolio to market to semi-retire.
They 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.”
Marc Blackford, Associate Director in Christie & Co’s Hospitality team is handling the sale. He 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.”