Restaurant/cafe for sale in Cafe/Restaurant, Ipswich IP1
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Property description
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
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
For more information about this property, please contact
Gilbert & Rose Commercial, SS9 on +44 1702 787467 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Gilbert & Rose Commercial, and do not constitute property particulars. Please contact Gilbert & Rose Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.