Newark Nottinghamshire NG24 1DU

For Lease £25,200 P.A.

Property Details

Newark Nottinghamshire NG24 1DU

For Lease £25,200 P.A.
Description

Leasehold Coffee shop / wine bar business for sale - Newark

- Nottinghamshire

* Market square in Newark town centre
* Coffee shop and wine bar with full premises licence
* 15 year lease from July 2015 – current rental £25,200 + VAT
* 7 day trading with potential to grow the evening/Bistro trade
* Guide price of £95,000 to include the goodwill and trade F & F

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
Great little cafe/wine bar business which has been trading for 3 years with steady turnover increases. The succesful purchaser will have the opportunity to grow the trade further by expanding the evening operation and take the business to the next level.

ACCOMMODATION
Open plan ground floor coffee shop with 24 internal covers and 30 external covers.
Ground floor catering Kitchen and 2 x w/c’s for ladies and gents.
3 Basement rooms, comprising prep kitchen, wine cellar and store room.
Pavement licence to the front to allow 30 covers in the main market square.

AMENITIES
Located in the centre of Newark, surrounded by retail, office and food and drinking establishments. Close to short and long stay car parking and with excellent road and rail links to surrounding villages, towns and cities.

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
The business is being offered for sale at an asking price of £95,000 to include the goodwill, trade fixtures and fittings and the premises licence.
The current lease started in July 2015 and for a period of 15 years, with break clauses at years 7 and 10.
The passing rent is currently £25,200 + vat per annum.

OUTGOINGS
According to the valuation office agency the current rateable value is £15,500 per annum, interested parties are advised to seek their own advice from the relevant billing authority.

VAT
We are advised that VAT will not apply to any premium paid, but will be chargeable by the landlord on the rent.

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

PARKING NOTES
No parking is available with the property, being located in the town centre. There are various pay and display car parks available to customers.

PLANNING
The current planning allows for A3/A4 café bar and premises licence.

OTHER
Finance may be available through Independent Financial Brokers and Moores Commercial would be please 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