Ref 6618 – Leasehold Coffee Shop/Café & Accommodation
Blacks Brokers are pleased to bring to the market this leasehold coffee shop/café with accommodation located on a busy main road in Whitefield, Greater Manchester.
Coffee and Spice was established by our client in 2009 due to a lack of cafes in this area and this superb main road position. The café has become very well known and has a large base of regular local customers and an excellent reputation. There are superb reviews noted on Facebook, Google, Trip Advisor and Just Eat.
Located on Bury Old Road in Whitefield, the business benefits from plentiful footfall in addition to a large amount of local residents. The area is well linked by the M62 and M60 with excellent public transport links and parking is available close by. Other local businesses include independent retailers such as a beauty salon and dry cleaners as well as large multiples including Tesco Express and McDonalds.
The business is well suited to an owner operator, however due to the demands of our client's other business commitments being higher than anticipated the business is offered for sale and presents an excellent opportunity for a new owner-operator or team to take the business to the next level.
The building is available on a competitive rent on a Full Repair and Insure lease (Fri lease). This is the most common form of commercial property lease. The current lease is five years and began in 2014 at a cost of only £153 per week. The lease will end in May 2019 when a rent review will take place and the lease will become a rolling agreement. A new lease may be negotiable with the landlord.
The business is currently operating with our client and partner in part time employment supported by two part time members of staff.
Coffee and Spice has traded solidly since opening and shows growth year on year. We are advised that the business currently has annual turnover of £75,000 with gross profit of £48,750. Full financial details are available upon viewing.
The business currently benefits from Small Business Rates Relief. Purchasers should enquire with relevant local authorities to confirm the rates payable.
This leasehold business with accommodation occupies a prominent main road trading position in a busy area of Whitefield. There is plenty of scope to develop the business further with the introduction of longer opening hours and weekend trade. There is also huge potential to offer a delivery service in the local area. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Business: £29,995.
Please quote ref: 6618