Business for Sale in Norwich, Norfolk - CAFE / POTENTIAL EVENING VENUE - NORWICH CITY CENTRE - Leasehold: £25,000

Key Information

Ref
R34615E
Type
Food Service Businesses: Cafes
Location
England: Norfolk
Tenure
Leasehold
Status
Under Offer
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Please fill the form in below to request particualrs via e-mail for Business Ref : R34615E

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Call us on 01603 662662
  • In the Heart of the City

  • Currently Nil Rates

  • Potential for c. 55 Covers
  • Large Commercial Extraction
  • Huge Potential

  • Low Rent

  • Excellent Lease Terms

  • Quality Kitchen Fittings
  • Lots of Natural Light
  • Sociable Open Plan Layout

PARTICULARS

We are delighted to have been asked by a local Community Trust to market this excellent opportunity to acquire a prime city centre cafe on favourable lease terms with a low in going premium.

Given that premises of this nature in such a central location and with very low overheads come onto the market so rarely we expect interest to be strong and urge any persons who may be keen to view to contact us as soon as possible to arrange. It is unlikely that this property will be available for long given the demand currently for this type of premises so you will need to act fast.

THE BUSINESS ITSELF

White Lion Cafe was opened in 2015 by a local school community trust to support their vision of enriching the lives of young people with SEN needs and improving their life skills, self-esteem and well being. It was never the intention to enter into the venture to run the cafe as a commercial business and was therefore run as a non-profit making operation.

Due to the changing complexities of their students, the cafe no longer met the needs of enough pupils to justify their primary objective of positive outcomes for all at the school. It had to be the right provision for the majority as it could only be supported by additional school staff to work with the pupils at the cafe which in turn caused a financial strain on the school. Therefore the difficult decision was made to close the cafe.

This does though present an exciting chance for someone new to create their own vision for the business with a great foundation to build off of and with a far lower risk than with many other ventures that are on the market.

We feel that there is great potential to run not only a successful daytime cafe but also to offer an evening service of a style to suit, subject to any required consents. The premises provide a great social space and could perhaps be ideal for acoustic performances, tapas or similar such like offerings.

ACCOMMODATION
ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The cafe is situated on the first floor of this building which is positioned in the heart of the city opposite the entrance into Castle Quarter in this busy pedestrianised street. Surrounded by a range of national and independent retailers ensures that there is a constant significant footfall passing the cafe’s entrance on a daily basis. By being on the first floor the cafe provides a sense of calm away from all the hustle and bustle out on the street and also offers the chance to create something that could be ‘known but unknown’ and ‘the place to be’.

The cafe is neutrally decorated with wood effect flooring and a good array of spot lighting and hanging lights. It also benefits from lots of natural light with nearly full width windows to two sides and no immediately joined neighbours to those sides.

The open plan kitchen and dining area provides over 1,000 sq ft of space and had previously been set to provide 55 covers however this has been reduced by the trust in order to provide more space for their students to circulate around whilst serving. There is a very well presented customer toilet off an inner lobby area which then leads down a short corridor to an office/store area with a staff toilet at the end. There is an additional small store room off the main landing before entering into the cafe.

The very well fitted out kitchen provides a range of stainless steel fittings and work areas with a double sink, hand wash sink and dishwasher. Various items of equipment will remain including a 6 hob electric range with oven under, Blue Seal turbo fan oven, selection of fridges, freezer, microwave, Buffalo grill and toaster. For drinks there is a tradition Wega coffee machine as well as a bean to cup machine, coffee grinder and hot water urn. There is a good sized commercial extraction unit which we believe would be suitable for a greater food offering if desired. Finally the service counter provides a refrigerated display unit with separate 4 dish hot ban marie unit and Epos till.

This one really does offer a huge amount to a new owner so contact us now to arrange a viewing.

INFORMATION

Our Reference
R34615E.

Opening Hours
The business is not currently open for business however we understand that there are no significant restrictions on opening meaning that an evening service could be offered if so wished.

Tenure
Leasehold. The remainder of the 10yr lease from 6/3/17 will be assigned to the purchaser. The lease would appear to be renewable and in our opinion offers favourable terms to the tenant.


The Purchaser will be responsible for the landlords costs and fees in connection with the assignment of the existing lease or to the grant of a new lease

Rates Payable
We are advised that the vendor does not currently pay Business Rates in respect of this property.


This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner

Rent Payable
£10,000 per annum with a rent review due in 2022.

Viewing
Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.

Finance
Finance may be available to suitable purchasers

Business to Sell or Let?
Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

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1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.

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