Busy Residential Area
Large Store and Prep Room
Ideal for Owner Operator
Current A5 Use
Garden and Parking to Rear
Huge Scope to Increase Turnover
1 Bedroom Flat in Good Condition
Freehold or Leasehold Option
We are pleased to present an excellent opportunity to acquire either the freehold or leasehold interest in this well positioned fish and chip shop together with the separate first floor 1 bedroom apartment. Ideally set up to suit either a live in owner operator or alternatively the flat can be rented out independently such as it currently is should someone wish to take this on as an investment or lock-up shop.
Situated in a busy mixed residential and commercial area the business is ideally placed and benefits from no other fish and chip shops being present in the immediate vicinity. In our opinion there is huge scope to add value to both the business and property and therefore we expect this to be of much interest to potential buyers.
The business itself
The business is currently operated by tenants however they will be vacating upon completion of the sale leaving the new owner to operate it however they so wish.
We are advised that the business is currently taking in the region of £1,500 p.w however they do not at present open at lunchtimes. We would expect that in this location a new owner should be looking to achieve a turnover nearing twice as much as this.
Whilst currently set up as a fish and chip shop takeaway we are not aware of any reason why a new owner could not operate with a different style of cuisine or even as a different type of business altogether, subject to any consents that may be required.
All measurements are approximate and for guidance only.
The two storey end-terrace property is situated on the busy Lincoln Road near the centre of the city and is in a parade of mixed use commercial and residential properties. The property has been separated so that the residential accommodation can be independently accessed and let out which offers a range of options to a buyer.
On the ground floor behind an electric security shutter is a fully glazed front facade with entrance door into the takeaway area with space to wait for your order together with a chilled drinks fridge. Behind the customer service counter you will find 2 kebab spits with extractor over, griddle, Lincat bain marie, and work surfaces for wrapping orders. Further back is the 3-pan range with 2 chip servers and heated cabinets above. There is also 2 under counter fridges, as well as a full-height fridge and separate freezer. The backroom to the rear provides room for a sink, microwave, oil filter machine and extraction for the fryer. A door through to the shared lobby provides access to a store cupboard and separate good sized cloakroom and washroom. The main room measures c. 12.48 x 3.42m and the rear room c. 2.44 x 2.13m.
Externally there is large tandem length garage (c. 11.29 x 3.8m) which is used as a prep and storage room with a concrete floor with drainage, potato bath, rumbler, chipper, stainless steel sink, stainless steel shelving, work benches and 3 chest freezers.
The rest of the garden is laid mainly to lawn with a disused garage at the far end.
The first floor flat, which is accessed up the stairs via the shared ground floor lobby, is in good order having been refurbished only approximately 1 year ago. It provides a good sized double bedroom with built-in wardrobes, lounge, kitchen and shower room. Carpet is laid in the bedroom and lounge and heating is provided by electric panel heaters. We understand that the flat is currently tenanted at a monthly rent of £600 to include the electric, however there is flexibility over whether the tenant remains on completion or not depending on what a new owner requires.
All in all an interesting opportunity with numerous options for a new owner.
The business currently operates Monday to Sunday 4:00pm to 9:00pm but has previously opened lunchtimes as well.
Ideally a Freehold sale is sought however we understand that the owner would be willing to agree a Leasehold sale to a suitable purchaser subject to the usual referencing and checks being satisfactory. The vendor has indicated that they would be willing to grant a 20 year term for the lease on a full repair and insuring basis.
The purchaser will be responsible for the landlords costs and fees in connection with the grant of the new lease, if a leasehold sale is agreed.
We are advised that the business currently qualifies for Small Business Rate Relief and as such does not currently pay any rates.
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.
This is not applicable in respect of a freehold sale. If a leasehold sale is agreed then the terms of the new lease would be negotiated accordingly at that time however the rent would be expected to be in the region of £18k p.a.
Strictly by appointment only, please call our Norwich Office to make an appointment.
Finance may be available to suitable purchasers.
Business to sell?
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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.