Restaurant/cafe for sale in Cafe, Stevenage SG1

A fantastically presented premises situated in a highly enviable main high street location. The premises is newly-fitted to a high standard, with no expense being spared by our client who is now offering the business for sale inclusive of the high quality fixtures and fittings throughout. The business has come to the market with a genuine reason for sale due to our client's other business commitments. Trading with a menu that includes sandwiches, wraps, salads, breakfasts, jacket potatoes and pancakes in addition to offering a vegan and kids' menu. The business has a great reputation, supported by a 5* TripAdvisor rating, 4.7* Google rating and 5* Facebook rating. There is a good established turnover, but leaves a lot of scope to increase further by extending the trading days and times to possibly capture evening trade, in addition to expanding the menu, adding an outside catering element, offering private hire functions and looking into obtaining an alcohol licence. Viewing recommended. Cost of Stock to be paid on Completion. Our ref: RX262283 C6558H

Location

The premises is situated in a sought-after main high street location that provides highly enviable levels of footfall that not many locations offer. The business is surrounded by major banks and retailers, including wh Smith, Halifax, Santander, Card Factory, Specsavers and Burger King just to name a few.

Tenure

We are advised a new lease will be made available with a term to be agreed at a commencing rental of £30,000 plus VAT per annum exclusive

Exterior Front

Currently arranged to provide 12 external covers directly in front of the shop, with fascia board, glazed frontage and double-glazed entrance door leading into the premises which measures approximately 1,100 sq. Ft. And is arranged as follows:

Main Coffee Shop/Cafe Area

With wood flooring, spot lighting, air conditioned throughout, currently arranged for 33 covers (space for more covers if required), serving counter, large refrigerated display counter, coffee machine, coffee grinder, under-counter fridge, under-counter freezer, blender, hot water dispenser and stainless steel sink.

Kitchen/Prep Room

An opening at the rear of the serving area leads into a kitchen/prep room with stainless steel sink, 3 x under-counter freezers, 4 x under-counter fridges, 2 x panini presses, dishwasher, large saladette, 2 x toasters and 2 x microwaves.

Stock Room

A door at the rear of this room leads into a stock room with various shelving/racking, blender, induction hob and the CCTV system. A door at the back of the main coffee shop area leads into a WC. Another door at the rear of this area leads to a rear fire escape which in turn provides rear access

Staff & Trading Hours

The business is run under management with 2 full-time and 3 part-time members of staff. The business currently trades 9 am to 5 pm Monday to Saturday and 10 am to 4 pm on Sunday. We are advised there are no time restrictions on the trading hours and there is a premises next door trading late evenings

Turnover

We are advised turnover averages approximately £3,000 per week trading to the usual high gross profit margins associated with the trade

Business Rates

We are advised business rates payable are £800 per month

Legal Costs

Each party are to be responsible for their own legal costs incurred in the transaction, with the landlord's legal costs in the establishing of the new lease to be the responsibility of the purchaser and the landlord's legal costs involved in the surrendering of the new lease to be the responsibility of the vendor

Summary

A fantastically presented business that is reasonably newly fitted to a high standard with no expense being spared by our client. Highly enviable trading location that provides extremely high levels of footfall. Good established turnover, but still leaves a lot of scope to increase further. Viewing recommended

Disclaimer

Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission