Restaurant/cafe for sale in Northgate Street, Ipswich IP1

Are you ready to brew up success in Ipswich's vibrant food scene? Look no further! This is your chance to own a well-loved coffee shop and sandwich bar in the heart of Ipswich which has been trading for approximately 28 years. The business is fully equipped and operational, ready for you to step in and start making profits from day one. With a loyal customer base and opportunities for expansion by simply extending the trading hours, the sky's the limit for this thriving business. The business boasts a 5* Just Eat rating, 4.7* Facebook rating and 4.4* google review. RX366834

Location

The property enjoys an exceptional trading location just off the main town centre, capitalising on significant foot traffic and passing vehicles. It is surrounded by a diverse range of businesses, such as a Cash Converters, barber shop, and Coral betting shop, amongst others

Tenure

The premises is subject to a 9 year lease from August 2019 at a current rental £12,000 per annum exclusive

Premises

A terrace retail shop with facia board, glazed frontage and single glazed entrance door leading into the premises which measures approximately 489 sq.ft. And is arranged as follows:

Main sandwich bar area with suspended ceiling, panel lighting, large double pepsi max display fridge, 2 x under counter freezers, crisp display stand, 2 x breakfast bar seating, 3 x under counter fridges, serve over counter and chilled display serve over counter behind which is a preparation area

Preparation Area

The preparation area which is equipped with 2 x microwaves, 2 x panini press, induction hob, toaster, salamander grill, oven, 2 group coffee machine with integrated coffee grinder, coffee maker, hot water dispenser, wash hand basin, double stainless steel sink, dishwasher, till system and fridge freezer. At the rear of this area is an opening which leads through to a customer seating area currently arranged for 18 covers. A door at the rear of this area leads into a WC. A door off the right hand side of the seating area leads into a corridor with door at the end leading to an outside covered seating area. There is a further door from this area which leads into a store room which is where the outside furniture is stored when not used

Trading Hours

Monday - Saturday 7am - 2:30 pm. Closed on Sundays

Staff

The business is run by the vendors on a full time basis, with the assistance of 1 full time and 3 part time members of staff

Turnover

We are advised Turnover averages £2,000 - £2,500 per week, working to the usual high gross profit margins associated with the trade

Business Rates

The premises is subject to a rateable value of £11,000 resulting in zero business rates payable, should small business rate relief apply to a purchaser

Legal Costs

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