£69,500

Restaurant for sale

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Retirement

£69,500

Restaurant for sale

Cafe/Coffee Shop, Ipswich IP1

Local area information

Property location

Nearby amenities

  • Cliff Lane Primary School 0.4 miles
  • St Helen's Primary School 0.5 miles
  • Derby Road (Ipswich) 0.7 miles
  • Ipswich 0.9 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Read our area guide for Ipswich to find out more about the area.

Features and description

A long-established business which has been owned and operated by our clients for in excess of 20 years who have now brought the business to market with a genuine reason for sale, due to retirement. The premises is fantastically presented throughout with quality fixtures, fittings and equipment, which are all included within the sale price other than the Rational Oven which is available under separate negotiation if required. The business trades with a menu that includes, but is not limited to breakfasts, omelettes, sandwiches, wraps and jacket potatoes to name a few items which is also accompanied by a dessert menu with waffles, ice creams and brownies. The business has built up a fantastic reputation over our client's period of ownership, supported by a 4.5* Tripadvisor rating, a 5* Facebook rating, 4.6* Google review and a 5* Food Hygiene rating. The business has a strong established turnover which still leaves huge scope to increase further by extending the trading days and times, as our client only opens until 3 pm and closes on Sundays. There is further scope to increase the turnover by incorporating a delivery service which our client has set up a platform to do, but has chosen not to utilise, as well as utilising the 2-deck pizza oven to offer a pizza eat in and delivery service. Viewing recommended. Cost of Stock to be paid on Completion. Our Ref: RX291680

Tenure:

We are advised there are 10 years remaining on the lease with a tenant-only break clause in December 2025. Current rent payable at £16,000 per annum exclusive

Premises:

Terrace retail shop with awning over a forecourt seating area currently arranged for 9 covers, external sound system, outside heaters, glazed frontage and single glazed entrance door leading into the premises which measures approximately 1,034 sq. Ft. And arranged as follows:

Main Cafe Area

With suspended ceiling, a mixture of spot lighting and hanging lighting, currently arranged to provide 26 covers but could be arranged to accommodate more if required, benefitting from an integrated sound system, air conditioning, air purifying machine and a security alarm system and smoke alarms. To the right-hand side of the main sales area is a stainless-steel serve-over counter with under-counter refrigeration, chilled display serve-over counter with under-counter refrigeration behind which is display shelving, till, 2-group coffee machine and coffee grinder (leased at £95 plus VAT per calendar month), Lincat hot-water dispenser, milk dispenser, large Coca-Cola display fridge, blender, milkshake maker and under-counter freezer. One doorway from this area leads into separate ladies & gents WCs

Store

An opening behind the counter leads to a small store with shelving

Kitchen/Prep Area

A further opening from this area leads into a kitchen/prep area currently equipped with stainless-steel sink, dishwasher, Rational oven (not included within the sale price, however is available under separate negotiation if required), stainless-steel work stations, 2 x salamander grills, under-counter fridge, 2 x microwave/combi ovens and extraction over

Further Prep Area

An opening from this area leads into a further prep area equipped with large upright stainless-steel fridge, 3 x microwaves, wash-hand basin, heated display cabinet, 2 x air-fryers and induction hob

Basement Area

A staircase from this prep area leads into a basement area equipped with safe, blender, chest freezer, fridge-freezer, large upright display fridge, various racking/shelving, 2 x display chest freezers, fridge and 2-deck Pizza oven with pizza cabinet

Office & Store Rooms

An opening at the rear of this area leads into an office/store room with various racking and a desk. An opening from this area leads into a further store equipped with display chest freezer, large upright fridge and a third combi microwave/oven

Staff & Trading Hours

The two vendors share a full-time role working 3 days per week each, assisted by 4 members of staff and Saturday staff. 08.30 to 15.00 Monday to Saturday. Closed on Sundays

Turnover

We are advised the gross turnover for year end 30th April 2023 was £238,800 with the average weekly gross turnover following that approximately £4,655 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 £11,500 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 based on an assignment of lease. If a new lease is required, each party are to be responsible for their own, with the landlord's legal costs involved in the surrendering of the existing lease to be the responsibility of the vendor and the landlord's legal costs involved in the granting of the new lease to be the responsibility of the purchaser

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

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