Newark on Trent Nottinghamshire NG24 1DT

For Lease £11,500 P.A.

Property Details

Newark on Trent Nottinghamshire NG24 1DT

For Lease £11,500 P.A.
Description

Cafe business for sale

- Nottinghamshire

* Great business opportunity just off the Market square in Newark town centre
* A rolling 3 year lease with 2 years remaining – current rental £11,500
* A3 Coffee shop premises license
* 7 day trading with potential to grow the evening/Bistro trade
* Initial asking price of £50,000 to include the goodwill and trade fixtures and fittings

LOCATION
Newark is a thriving market town with a population of around 35,000 and a catchment of around 150,000 within a 20 mile radius. It is located at the junction of the A1, A46 and A17, approximately 20 miles North east of Nottingham and 14 miles South of Lincoln. It has rapid rail services to London, being on the main East coast line and also regional services from both of its two Railway stations.

DESCRIPTION
Occupying the ground floor and basement of a 2 storey property under a pithced tiled roof – with large window frontage.

ACCOMMODATION
The trading space is split on the ground floor into to main rooms, with circa 30 + covers. The servery and kitchen are fully equipped for the trade and will transfer as part of the inventory.

AMENITIES
Located in the centre of the town and within walking distance to local shops, offices and restaurants. Newark railway station is approximately 10 minutes walk away.

SERVICES
We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.

TERMS
Offered to let with a premium of £50,000 for the goodwill and fixtures and fittings, the current passing rent is £11,500.
The current lease is a rolling 3 year agreement with 2 years remaining. The lease may be extendable subject to landlord’s approval.
The business will be sold as seen and stock at valuation will be charged on the day of completion.

OUTGOINGS
According to the valuation office agency website the current value is £9400 per annum, interested parties should contact the relevant local authority for further information on the rate relief options available.

VAT
We are advised that VAT will not be chargeable on the Rent and on any Service charges and Landlords Insurance contributions required.

LEGAL COSTS
Both Parties will be responsible for their own legal costs.

PARKING NOTES
There is no parking included with the Shop. There are public car parks and on road parking nearby.

PLANNING
Current planning allows for A3 cafe/restaurant.

OTHER
Finance may be available through Independent Financial Brokers and Moores Commercial would be pleased to make an introduction for you. The Brokers are completely Independent of Moores Commercial and will offer confidential, unbiased advice regulated by the Financial Authorities. Please ask for further details.

VIEWING
Viewing is strictly by prior appointment via the sole agents Moores Commercial Tel: 01664 431330 or via email office@moorescommercial.com

Moores Commercial offer a unique personal service helping clients with all aspects of commercial property across the Midlands