Assessing the value and costs of a new cafe business

Yorky

A small group of people are interested in buying an historic building, sympathetically restoring it and using it as a cafe / tea rooms. It's going to be sold by auction.

There are grants available to restore old buildings which they'd be applying for and each member of the group would be prepared to get actively involved in the restoration.

As for the cost to them for the restoration and cafe development, what would be the best way to estimate these costs, ideally without incurring any costs in so doing?

They don't have unlimited funds and don't want it turning in to a money pit!

duploelabs

One major consideration when dealing with protected buildings, restoration works, and cafes is that you have to bear in mind that if you're doing any cooking at all that you'll have to install air handling in and that the cost of such can really sky rocket when dealing with protected buildings

pedroeibar1

That is an impossible question to answer - how old is the building, is it a protected structure, what state of repair / condition is it in, what the roof/walls/glazing are like, what period features does it have, is a conservation architect required, etc., etc. It's not even suited to this forum IMO.

antoinolachtnai

Unfortunately, it is a money pit. You need specialised skills to do this sort of thing. You really need a conservation architect of some sort to estimate out the whole thing for you. This is going to cost a few thousand euros up front, but it will be money well spent if you are serious about the project.

For opening a cafe, you really need to find a cafe operator and find out what their requirements would be. The operator would ultimately pay you rent.

It obviously depends on location, but I wouldn't necessarily expect the rent to give you much profit. Realistically, it will just help cover the costs of keeping the building open and occupied.

Shint0

As said above there are all sorts of issues -air handling, possible sound insulation if there are any neighbouring businesses or residents who might object, signage issues. You would really need all your ducks in a row before you start throwing money at it.