Restaurant/cafe for sale in Cafe/Restaurant, Ipswich IP1

The premises have been established over 20 years as an eatery, with our client operating the business in its current form since 2019. The business has been brought to market due to a change in business interests. The premises are well presented throughout accommodating 50+ covers (26+ Internal 24+ External) and the business includes a full complement of equipment within the sale price. Huge scope to increase revenues by simply extending the current trading days and times, as the premises licence is 11 am - 11 pm every day and our client is currently only opening 5 days per week. Cost of Stock to be paid on Completion. We feel this is a great entry level opportunity that offers plenty of potential in a premises suitable to any cuisine so an early viewing is advised. Our ref: RX262335

Location

The business occupies a prime corner position, located in the town centre, surrounded by a vibrant mix of independent retailers, offices and car parks whilst benefitting from local off-street time-restricted parking. The road itself leads into the main town centre generating high volumes of vehicular traffic and passing footfall

Tenure

The premises are held on a secure and renewable 6-year lease commencing 11th December 2019 at a current rental of £20,000 per annum exclusive. The next rent review is due in May 2024

Exterior Front

An imposing large corner premises with full glass frontage, benefiting from a pavement licence for 16+ covers across 4 tables, with 4 umbrellas and free-standing separator barriers. Additionally the premises benefits from small display fascia and window signage

Coffee Shop/Restaurant

Open-plan, L-shape in design, measuring approximately 780 sq. Ft. And benefiting from tiled flooring throughout, spotlighted ceiling along with ceiling-mounted fans, ceiling-mounted hanging feature lights, wall-mounted uplighters, internal blinds, CCTV and an alarm. The premises are comfortably arranged to accommodate 30+ covers and are tastefully decorated throughout, inclusive of chalkboard display menus. As you enter the premises, on the immediate left-hand side is a large bespoke till serving counter incorporating a double serve-over refrigerated counter with storage below and an electronic till serving pos which prints tickets directly to the kitchen

Coffee Shop Continued

Directly behind, the business is equipped with a 3-door under-counter drinks display fridge, an ice-machine, double sink unit, small commercial dishwasher, 2-group coffee machine, coffee grinder, cutlery station and a 3-cup takeaway holder. Additional equipment includes an upright drinks display fridge and a Welsh dresser display-type cabinet. Behind the till serving station is an open doorway leading to the commercial kitchen

Commercial Kitchen

Measuring approximately 21.07 x 13.08 = 295.61 sq. Ft. Fully equipped with a 3-door refrigerated unit, stainless-steel prep top and 10-pot saladette, KitchenAid, Salamander grill, single fryer, stainless-steel prep counter with hot pass-through, 2 commercial microwaves, a small double pizza deck, 2 x fan-assisted ovens, 4-drawer refrigerated cabinet with stainless-steel prep top, hand-wash sink, large sink unit, a 4-ring induction hob with large oven beneath, commercial dishwasher, a large Lincat pizza oven, warming cabinet, a double fryer, double canopy extraction hood, a large griddle, a large panini press, racking, shelving, an upright Polar freezer and an upright Polar fridge

Staff & Trading Hours

The vendor works full time and is assisted by two part-time members of staff. The business currently trades 10 am until 3 pm Wednesday through to Saturday and 10 am until 3 pm on Sundays. We understand trading hours are unrestricted and the premises licence allows trading from 8 am till 11 pm 7 days a week, with the sale of alcohol for consumption on the premises from 11 am until 11 pm 7 days a week

Turnover

We are advised that turnover averages between £1,250 per week and £1,750 per week on reduced hours. The turnover can peak at over £2,000 per week during the autumn and winter months. The business has shown turnover increases of 10-15% year-on-year since it was established. Full financial information will be made available at our client's discretion on or after a meeting

Business Rates

The premises are subject to a rateable value of £17,250 and we are advised by our client that business rates payable are £3,290 per annum exclusive

Legal Costs

Each party are to be responsible for their own legal costs incurred in the transaction, with the landlord's reasonable legal costs to be split 50/50