A unique opportunity to purchase an extremely low rent, profitable busy independent coffee shop with regular, loyal clientele. Central Winchester location with affluent customer base. Fitted and equipped to a high standard by the current operator. Attractive annual rent for City Centre premises. Currently operating daytime hours only (could open evenings). Benefits from a Premises Licence to serve alcohol. Retirement/ill health forces sale.
Winchester is a popular, attractive and affluent Cathedral City and County Town. The City itself is a very popular tourist destination with its Cathedral and historic town centre. The University of Winchester and the Winchester School of Art also draw a large number of students and visitors to the City.
The property is located a short walk from the High Street and occupies a prominent trading position close to the junction of Parchment Street and St George’s Street.
Parchment Street is a popular location for independent retailers, with a range of boutique shops, salons and jewellers. Nearby retailers include Bell Fine Art, Forme, Sew-Fit Tailors and Toscanaccio.
There are various parking facilities in the City Centre, with the nearest multi-storey car park located at the Brooks Shopping Centre. There are also park and ride schemes located just off Junctions 10 and 11 of the M3.
Summary of accommodation
Ground Floor Tea Room (20 covers). Cloakroom. First Floor Tea Room (32 covers). Kitchen. Cloakroom.
The property comprises a two storey unit with additional basement storage in a row of terraced retail premises.
The unit itself has a prominent frontage with large windows highlighting the contemporary and comfortable coffee shop fit out. The signage is prominent on the kerbside attracting passers-by.
Internally there are 20 covers on the ground floor and 32 on the first floor and the fit out has been carefully considered by the current owners with each piece of furniture having been meticulously chosen. The ground floor houses the servery counter and cake stands whilst the kitchen is located on the first floor.
Trading & business
The opening hours can vary but the current opening times are Monday-Saturday 10am-5pm and Sunday 10am-4pm and closed on Tuesdays. The option to open later and serve a dinner menu is also available which will of course will triple turnover.
The business has been trading for over 4 years and is operated by the current owners, a manager and 4 part time staff members. The level of turnover is healthy for a business of this size as are the net profits. Accounts are available on request.
The equipment is all owned and in working order with the most noticeable being the fryers, grills, sink with double basins, dishwasher, microwave ovens, fridge freezers and extraction system.
The business has an exceptional following and a loyal customer base. This is apparent on Google with a 4.4 star rating out of 5 and 85 google reviews at the time of writing.
We are informed that the property holds a Premises Licence granted by Winchester City Council.
Leasehold. The current owners have informed us that there are approximately 6 years remaining on the current lease, at a current rent of £21,000 per annum, exclusive, payable quarterly in advance. We have not had sight of this lease documentation.
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