Commercial property to let in Stodman Street, Newark NG24

* Going Concern Business * Well-being, Yoga & Meditation * Café and Juice Bar * Meeting Rooms * Packaged Relaxation Visits * Prime Retail Location * 75 Minutes from London * Fixtures & Fittings £50,000 Plus VAT * 2,475 sq. Ft on three floors * EPC Exempt

Offered as a going concern and lease assignment, the business known as 'Tree' is an interesting concept based on well-being, yoga, meditation, packaged relaxation visits, meeting rooms, cafe and juice bar.

The property occupies a prime retail location within the Georgian Market Square of Newark town centre. There is substantial catchment (113,000) from the Newark area. Nottingham 20 miles, Lincoln 14 miles. Main East Coast railway trains from Newark Northgate and capable of journey times to London King's Cross in just over 75 minutes.

The going concern business is offered for sale to include high quality kitchen equipment, sauna, fixtures and fittings at a price of £50,000 plus VAT.

An exciting proposition for an enterprising business development and modern concept based on corporate meetings and wellbeing days, together with important passing trade from the cafe business.

The building, on three floors, provides 2475 sq.ft approximately. The current rent passing is £25,000 plus VAT per annum. The landlord will consider an Assignment of the lease or subject to negotiated terms may grant a new lease.

Ground Floor

Cafe

15'3" (frontage) x 35'5" depth (4.67m x 10.82m)

Front display windows, suspended ceiling, hatch to cellar accommodation, small store room off. The kitchen area is fitted with stainless steel equipment including refrigerator, freezer drawers, stainless steel sink wash basin, stainless steel double sink unit, Professional dishwasher, stainless steel table, coffee machine, Polar table top refrigerator. Sandremo coffee machine, commercial ice machine and fridge. Servery with cupboards and drawers.

Inner Hall

With radiator, staircase, winter security freezer.

Under Stairs Utility

With plumbing for a washing machine.

Corridor

With radiator and fire exit.

Separate Wc

With low suite WC, basin, baby change facility and skylight.

Kitchen (3.43m x 3.20m (11'3 x 10'6))

Stainless steel double drainer sink units, hand wash basin, freezer and Foster commercial fridge unit. Hobart oven and stainless steel extractor. Juice maker. Cobra fly unit. External door to enclosed rear yard.

First Floor

Fine Georgian staircase leads to the first floor lobby.

Separate Wc

With basin.

Meditation Room (5.49m x 4.39m (18' x 14'5))

Radiator, gas fired central heating boiler providing central heating for the entire building. Fire door.

Office (3.96m x 3.71m (13' x 12'2))

With radiator and Sash window.

Inner Landing

Stairs to first floor

Store Room (4.80m x 1.98m (15'9 x 6'6))

With fluorescent light.

Meeting Room (5.97m x 4.32m (19'7 x 14'2))

With two fine Box Sash windows in the front elevation, pine boarded floor, radiator.

Second Floor

Georgian staircase continues to the second floor.

Sauna Room (3.78m x 3.05m (12'5 x 10'))

With Infrared sauna unit providing additional wellbeing benefits. Shower room off with basin, shower unit and wood floor.

Consultation Room (3.15m x 2.13m (10'4 x 7'))

Box Sash window, radiator, wood floor and connecting door to the treatment room.

Treatment Room

With dual aspect, built in cupboard, basin and radiator.

Inner Landing

With stairs to the third floor.

Lobby

With two separate WC closets off, each with low suite WC and basin. Radiator.

Workshop Room Two (6.05m x 4.55m (19'10 x 14'11))

Three Box Sash windows in the front elevation, wood boarded floor, radiator.

Third Floor

Landing

With built in cupboard.

Sitting Room (3.48m x 2.44m (11'5 x 8'))

Gable window and radiator.

Store Room (4.45m x 3.48m (14'7 x 11'5))

With two Box Sash windows, radiator.

Store Room (3.33m x 1.88m (10'11 x 6'2))

Radiator and Box Sash window.

Cellar/Basement

There is an large cellar which can be used for storage.

Existing Lease

The property is let to Tree of Wellbeing Ltd trading as Tree. The existing lease is dated August 2021.

Term

10 years.

Rent Review And Break Clause

On the 5th anniversary of the lease.

Tenant responsible for insurance rent (approximately £1600 in the current year). The tenants are responsible for repairs. Effectively a full repairing and insuring lease.

Subject to status and negotiation the landlords have indicated a willingness to enter into a new lease with the business purchasers.

Services

Mains water, electricity, gas and drainage are all connected to the property.

Rateable Value

The Rateable Value effective from April 2023 is £23,500.

Viewing

Strictly by appointment with the selling agents.