Restaurant/cafe for sale in Belle Vue Way, Swansea SA1

The subject property comprises a double fronted ground floor retail unit, currently occupied for use as a café and restaurant (trading as Belle Vue Bistro), which is located within an established city centre location, within Swansea.

Our client interest is available for sale as a going concern, which is held on an under-lease for a term of 5 years from 22 December 2022 at a current rent passing of £10,000 per annum (exclusive). The business, which has been established since 2013 is fully fitted and equipped for its intended use, comprising various free standing seating for 50 covers over the main sales area to the front, a bar/ servery with various under-counter fittings, an open catering kitchen with various stainless steel preparation units and service counter, etc.

Permitted licensing open hours are between 11am and 11.30pm, which we have been advised can be extended further on Bank Holidays. We have been advised that the business turnover for the previous financial year did not exceeded the VAT threshold and we therefore advise that the business goodwill has the potential for further growth. The current trading hours are between 5pm-9pm (Wed & Thurs) and between 12pm-10pm (Fri & Sat) at approximately 28 hours a week.

The business also boasts a 4.5* rating on Tripadvisor (based on 739 reviews) and ranked #11 out of 381 restaurants in Swansea, which includes a Travellers' Choice Award in 2023.

Description

The subject property comprises a double fronted ground floor retail unit, currently occupied for use as a café and restaurant (trading as Belle Vue Bistro), which is located within an established city centre location, within Swansea.

Our client interest is available for sale as a going concern, which is held on an under-lease for a term of 5 years from 22 December 2022 at a current rent passing of £10,000 per annum (exclusive). The business, which has been established since 2013 is fully fitted and equipped for its intended use, comprising various free standing seating for 50 covers over the main sales area to the front, a bar/ servery with various under-counter fittings, an open catering kitchen with various stainless steel preparation units and service counter, etc.

Permitted licensing open hours are between 11am and 11.30pm, which we have been advised can be extended further on Bank Holidays. We have been advised that the business turnover for the previous financial year did not exceeded the VAT threshold and we therefore advise that the business goodwill has the potential for further growth. The current trading hours are between 5pm-9pm (Wed & Thurs) and between 12pm-10pm (Fri & Sat) at approximately 28 hours a week.

The business also boasts a 4.5* rating on Tripadvisor (based on 739 reviews) and ranked #11 out of 381 restaurants in Swansea, which includes a Travellers' Choice Award in 2023.

Location

The subject premises is located directly off Bellevue Way along a prominent position and easily accessible location within Swansea city centre.

The subject property is well placed within the City Centre, close to the prime area and benefits from a good level of passing trade.

Swansea has a population of some 240,000 and has a popular, expanding University. There is also a mainline railway station close by. Swansea City Centre has seen a large amount of redevelopment in recent years to provide additional student accommodation, which in turn has increased activity within the City Centre.

In addition we advise that the redevelopment of The Kingsway is already underway. The Kingsway Infrastructure Project, which is situated within close proximity of the subject premises, is aimed at kick-starting the development of a new digital district.

Accommodation

The subject premises affords the following approximate dimensions and areas:

Ground floor

Net Internal Area: 141.41 sq.m (1,522.21 sq. Ft.)

Sales Area: 11.94m x 10.50m (max)
comprising a double fronted unit, with a net frontage of approximately 11.78m (38'8"), fitted with various free standing seating for approximately 50 covers, CCTV system including 3 no. Wired cameras and 3 no. Remote cameras and a fully fitted bar/servery area.

Kitchen: 4.64m x 6.75m (l-Shaped)
fully fitted and equipped with various catering equipment.

Prep/ Store Area: 3.62m x 2.20m
fitted and equipped with a range of refrigeration equipment.

Disabled/ W.C. Facilities
with two separate toilet cubicles, which can be accessed off the main sales area.

Rates

As stated on the voa website the Rateable Value for the subject premises is as follows:

Rateable Value (2023): £12,250

From April 2018 the Welsh Government will set the multiplier according to the Consumer Price Index (cpi) and for the financial year 2023-24 the multiplier will be 0.535.

We advise that all enquiries should be made with the Local Authority Rates Department to verify this information. For further information visit .

Vat

All figures quoted are exclusive of VAT. Our client reserves the right to levy VAT on this transaction (if applicable).

Terms And Tenure

Our client's interest is available by the way of an under-lease, which is held for a term of 5 years from 22nd December 2022, which is subject to a current rent passing of £10,000 per annum (exclusive).

The under-lease also has provisions for periodic rent reviews, increasing to £11,000 per annum on and including 21st December 2023 up until 21st December 2024, which will then be revised pursuant to the anticipated open market rent (but no lower than £12,000 per annum) up until the end of the term.

Please be advised that the existing under-lease and business is being offered for sale as a going concern, to include the Tenant's fixtures and fittings, which is subject to a premium being paid, quoted within our marketing particulars.

Viewing

By appointment with Sole Agents:

Astleys Chartered Surveyors
Tel: Email: