Business for Sale in Norwich, Norfolk COFFEE SHOP – NORWICH CITY CENTRE, NORFOLK (NR2)

Leasehold Price £29,950

Key Information

Reference
R35429E
Tenure
Leasehold
Status
Under Offer
Region
Norfolk
Sector
Cafes
Rent Payable
£22,000 per annum. The rent increases to £25k per annum in year 5 onward. The purchaser will be responsible for the landlords costs and fees in connection with the assignment of the existing lease or the grant of a new lease.
Business Rates
The property has a rateable value of £6,615.75 but currently the owner enjoys Small Business Rate Relief and as such no rates are payable. 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.
Accommodation
No

Business Information

  • Excellent City Centre Location
  • Spread Over 4 Floors
  • Pavement Seating
  • Rooted in the Local Arts Scene
  • 5 Star Food Hygiene Rating
  • Very Well Appointed
  • Alcohol Licence
  • Stylish Interior
  • Regular Events
  • Viewing Highly Recommended

AGENTS NOTE

This is a business for sale as a going concern, not an empty premises for sale or let.

PARTICULARS

EMF are pleased to be appointed to market this very well presented coffee shop located in a great position in Norwich city centre. With it’s roots in the local art scene, being dog friendly, and with the benefit of outside seating it is not difficult to see why this is a popular spot to grab a drink or bite to eat.

It’s stylish and well appointed interior is a big plus point and would mean that a new owner who shares the same ethos as the current owners, and who wishes to operate the business on a similar basis are likely to find that there is little or no investment needed in the premises.

If you are looking for a city centre coffee shop, then this one is sure to tick all the boxes and as such we would expect strong interest in it – so recommend that you contact us at your earliest convenience if you think this may be the one for you.

THE BUSINESS ITSELF

Established in 2018 the business and brand have continued to grow despite the challenges that everyone has faced over the last couple of years. Now staff led due to the vendors relocation, this offers the opportunity for a new owner to step into the business on a full time basis or for it to be continued to run more hands off.

The business has many positives going for it, such as the continental style pavement seating for c.30 covers, an alcohol licence to 12:00pm, a first floor seating area suitable for private functions and a well fitted out modern kitchen. The shop is the only in the city which serves Cuppas Choice coffee and they are now also starting to run monthly events including their popular ‘Drink & Draw’ evening. There is clearly scope to offer a fuller evening service should a new owner so wish, which would not only increase turnover but would also further enhance the brand and business reputation.

PREMISES

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The shop is located in the pedestrianised area on London Street behind an attractive facade, spread over 4 floors with a full height and width glazed frontage at ground level.

Entering into the shop you will note the stylish interior with lots of wood and greenery providing a calm but bright space, with artistic features throughout. There is a modern youthful feel to the place and a proper buzz when busy. Overall the ground floor seating and service area measures c.5.4m x 6.3m. There is window seating as well as a selection of other tables and chairs. Behind the counter is the coffee machine and 4 bean grinders, 2 Buffalo panini grills, under-counter fridge and worktop with a sink built-in. Most importantly there is a beer fridge!

You will also note that the shop benefits from timber flooring, air conditioning and sound system serving the ground and first floor.

Stairs lead down to the basement kitchen which has been fitted out to a high standard and the full extraction unit provides a good working environment. Stainless steel walls and work stations together with black vinyl flooring mean that the area can be maintained to a high level of cleanliness. There is a Buffalo griddle, Buffalo oven, a further oven, 2 Buffalo induction hobs, 3 tall fridges and a tall freezer, together with a sink, hand sink, dishwasher, microwave and toaster.

Up the timber staircase to the first floor, you will find a range of seating and tables to accommodate c.34 covers with 2 large sash windows to the front, feature wall coverings, contemporary drop-down lighting and further greenery all to continue the theme from downstairs.

Finally up to the second floor which provides another useful space – currently used partly as a staff room and which is also utilised by another local business on an informal basis. Built-in shelves and desks provide work areas and storage and there is a large sash window to the front. This floor also has a cloakroom and a good sized landing area used for storage.

FURTHER INFORMATION

REFERENCE NUMBER

R35429E.

OPENING HOURS

8:00am to 4:00pm Monday to Thursday. 8:00am to 7:00pm Friday. 9:00am to 8:00pm Saturday. 9:00am to 4:00pm Sunday.

TENURE

Leasehold. There is an existing 10 year lease in place from the 20th June 2018 with a 5 year tenant break clause.

RENT PAYABLE

£22,000 per annum. The rent increases to £25k per annum in year 5 onward.

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

RATES PAYABLE

The property has a rateable value of £6,615.75 but currently the owner enjoys Small Business Rate Relief and as such no rates are payable.

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.

EPC

The Energy Performance Certificate for the property shows a ‘D’ rating and a score of 85.

PRICE

£29,950.

For the benefit of the goodwill, fixtures, fittings & equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

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?

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.

PREMIER MARKETING

We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!

UNHAPPY?

Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.

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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East Anglia

Your Regional Director Chris Ruggles

EM&F East Anglia

116 - 118 Prince of Wales Road
Norwich
Norfolk
NR1 1NS