Love Coffee Sells in Newport

Kings Business Transfer are pleased to announce the sale of Love Coffee, a very popular coffee shop based in the beautiful holiday destination of Newport in the Isle of Wight.

Having been operated by the vendor Mrs. Chiverton, for the past five years, the coffee shop has become one of the town’s most favorable meeting places to enjoy good quality food and beverages within a relaxing and welcoming environment. With an excellent reputation for selling some of the best dark Italian roast on the Island; the coffee shop has acquired a large and loyal customer base. The business therefore provided the new owner with an opportunity to take over a business with strong foundations, yet still having scope to develop and grow.

The business premises benefits from being situated on a busy main road position, within close proximity to the town centre, and especially benefits from the roaring tourism trade that is enjoyed by the Island all year round. As a result, Love Coffee attracts high levels of passing trade throughout the day.

The premises is a three story building, with a rustic yet modern feel. The shop floor is split over three levels, with room for 70 covers over the first two floors. The second floor also incorporates a separate conference room – perfect for private parties. Each floor is well equipped with a modern coffee making machine, with a large and well-maintained kitchen. The third floor additionally came with a large office and storage room.

Once on the market, as expected, the business generated high notes of interest, with an impressive thirteen viewings. The leasehold property was sold to Mr. and Mrs. Keeling (whose background is in property development), in just two months from the offer being made. The property was sold over the asking price at £52,000 and was funded through a cash purchase. The key feature which attracted them to the business was the location; they wanted a business in a prominent position in Newport and wanted to acquire a business that already had an established reputation.

Ben Whitehead, Sales Negotiator at Kings Business Transfer commented “I am delighted that Mrs. Chiverton has successfully sold the business. In order for this completion to happen so quickly, my thanks goes to all parties involved for pushing this through without any delays”