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Freehold or Leasehold Option
Genuine Reason For Sale
Commercial Space of c. 1,400 sqft
Current A5 Use
Huge Development in Area
Parking to Front and Rear
Very Well Fitted Out
Call Us for Further Details
We are delighted to have been chosen to market this busy pasta and pizza takeaway business in the upmarket Hillmorton suburb of Rugby. A busy and sought after location with extensive residential and commercial development continuing to be undertaken in the area meaning the already strong weekly takings are expected to continue to rise.
With the option to either acquire the freehold or to take a leasehold interest instead of the business only or to include the residential accommodation means this opportunity should be of considerable appeal to a large range of potential buyers.
THE BUSINESS ITSELF
The business is currently operated by the current tenants who rent from the landlord however they will be vacating upon completion of the sale leaving the new owner to operate it however they so wish.
Whilst currently set up as a pasta and pizza takeaway a new owner could 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 mid-terrace property is situated in the busy High Street in the centre of the village 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.
It is noted that the freehold option will of course include the whole property however the leasehold option relates to the ground floor business and commercial property only. Should an interested party wish to take the residential flat above then this could be negotiated separately.
The takeaway has an attractive glazed frontage with the benefit of an electric roller security shutter. The good size commercial property provides a large customer and cooking area of around 550 sqft split down the middle by the stainless steel service counter incorporating a refrigerated salad bar, food wrapping counter, a hot display counter and drinks display fridge. The cooking area provides further extensive stainless steel work benches and counters with under-counter fridges and freezers and 4 kebab spits above. A hand wash basin, deep fat fryer and chip tray are also provided. Pizzas are cooked in the Middleby Marshall pizza oven and this area is further home to various other chest freezers and fridges. The whole cooking area has good commercial extraction above.
Through to the large rear prep room which provides a further c. 450 sqft of space to work comfortably in and has fully tiled floors and walls the same as the main front room. Again there is extensive stainless steel work benches and counters to work at. In addition there is a walk in fridge, a double sink, 6 gas ring hob with extraction over and various storage cupboards and shelving. The gas boiler and -.-.-.- set up can also be found in this room. There is a small office used for staff changing.
To the rear is a lobby area with a door to outside as well as leading through to a W.C, utility room area and further store room with chest freezer, all tiled and with an additional door to outside. Externally there is parking included suitable for owner or staff use.
Currently 6 days a week 4:00pm to 10:30pm.
Freehold or Leasehold.
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.
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 £23,000 per annum for the ground floor commercial premises only. The upstairs residential flat would be dealt with separately if required and would be at an additional rent of £7,000 per annum.
Purchaser will be responsible for the landlords costs and fees in connection with the assignment of/or grant of new lease.
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.
Energy Performance Certificate available on request.
£595,000 for a sale of the freehold property and business.
The leasehold premium would be £145,000. To include the goodwill of the business, fixtures, fittings and equipment within the business. Stock is payable in addition at valuation on completion.
This is a business for sale as a going concern.
Strictly by appointment only, please call our Norwich Office on (01603) --- --- to make an appointment.
Finance may be available to suitable purchasers.
BUSINESS TO SELL?
Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.
We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!
Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.
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.
Available as freehold and leasehold
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