A FULL A3 COFFEE HOUSE/CAFE SANDWICH BAR with 70+ COVERS located DIRECTLY IN THE TOWN CENTRE surrounded by MAJOR HIGH STREET BRANDS of this HISTORIC MARKET TOWN - COLCHESTER, ESSEX. The business has been ESTABLISHED 15+ YEARS operating under the SAME OWNERSHIP THE LAST 9 YEARS and has been brought to market with a GENUINE REASON FOR SALE due to retirement. We sold this business to our client in 2014 which has since undergone a major refurbishment with a good level of investment into catering equipment whilst going from strength to strength in performance. We feel there is HUGE SCOPE to further increase revenues as the premises was FORMERLY LICENSED which allowed for increased opening hours and could be re-granted subject to the necessary applications/planning. A simplified menu offering Full English Breakfasts, Omelettes, Baguettes, Paninis, Wraps, Bagels, Sandwiches, Soups, Salads, Jacket Potatoes, Cakes, Confectionery, Hot & Cold Drinks, Real Fruit Smoothies, Blended Creme Frappes and Milkshakes along with Blended Iced Coffee. The business displays local artwork from local artists and the local camera club available for sale, along with having a 5* FOOD HYGIENE RATING it is being sold with a FULL COMPLEMENT OF EQUIPMENT so an EARLY VIEWING ADVISED. OUR REF: C6079E RX------
Location
The business is situated within Colchester town centre recognised as the banking area surrounded by Halifax, TSB and Barclays along with being directly opposite Debenhams and in close proximity to other major retailers such as JD Sports, Accessorize, Ernest Jones, Pandora, TK Maxx, HMV, Superdry, SCHUH, Waterstones, Hotel Chocolate and Office.
Tenure
We are advised a new 20-year lease is in the process of being negotiated with the landlord with the rent to be between £17,000 and £18,000 + VAT per annum exclusive, with rent reviews every 5 years.
Exterior Front
A recessed shop front providing COVERED FORECOURT SEATING currently seating 10+ covers and benefiting from wall mounted display menus along with painted and signed brickwork. The shop front is of an aluminium type frame that is fully glazed with large double door entrance into the coffee shop. The first floor overhang is fully glazed with signed display windows.
Coffee Shop Ground Floor
Split level (lower) with wood type flooring and (higher) tiled flooring throughout, further benefiting from Alarm, Air Conditioning, Wall Mounted Speakers for music, Suspended Ceiling with Spotlights and Hanging Feature Lights that is tastefully decorated and a Wall Mounted Flat Screen TV comfortably arranged to accommodate 28+ COVERS.
Serving/Prep Area
Towards the rear of the premises is the SERVING/PREP AREA with a 1.75m Open Chiller Drinks Display Fridge, Cake Display Counter, 2 Electronic Till Serving Stations providing printouts to drinks station and kitchen for orders, 2 Door Under Counter Display Fridge, 3 Group Coffee Machine and Coffee Grinder.
Commercial Kitchen
Behind the serving/prep area is the COMMERCIAL KITCHEN fully equipped with a Full Extraction System, Upright Fridge, Under Counter Freezer, Hand Wash Basin, Stainless Steel Prep Tables, Commercial Dish Washer, Sink Unit, Under Counter Freezer, 1 Ring Induction Hob, Microwave, Blendtech Blender, 2 Door Refrigerated Unit with Stainless Steel Prep Counter and Saladette, 3 Door Refrigerated Unit with Stainless Steel Prep Counter and Saladette, Panini Press, Ban Marie, 2 x Microwaves, 4-Slice Toaster, 2 Ring Induction Hob, 2 x Salamander Grills, 2 x single basket fryers and a Convection Oven/Microwave.
First Floor
Open plan, rectangular in shape decorated in similar style benefiting from wood type flooring throughout, suspended ceiling with strip lighting boxes and wall mounted art work from local artists and the local camera club. The first floor comfortably accommodates 32+ COVERS, separate CUSTOMER TOILETS with baby change facilities and an OWNER OFFICE/STORE equipped with 2 x Chest Freezers an Upright Freezer, Office Equipment and Staff Lockers.
Staff & Trading Hours
The vendor is on site on a part-time basis and is assisted by 2 full-time and 3 part-time members of staff. Monday to Saturday 7.30 am - 4 pm with the option to trade till 11 pm. Closed on Sundays.
Turnover
We are advised current takings average £5,500 per 6-day week. Full financial information will be made available at our client's discretion on or after a meeting.
Business Rates
The premises are subject to a rateable value of £20,750 and we are advised business rates payable are currently £2,600 per annum.
Legal Costs
Each party are to be responsible for their own legal costs incurred in the transaction with either side being responsible for any abortive legals by way of a legal undertaking. The landlords reasonable legal fee's are to be split 50/50.
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.
