Coffee shops trading from an imposing character property occupy a prime trading position in the town center which is surrounded by major brands located in Ipswich-Suffolk. The business was established by the owner nine years ago and is now staff-run, overseen by our client, who has brought the business to market with a genuine reason for sale. Having built up a highly enviable reputation with a captive audience, the business also benefits from a 5* food hygiene rating. Current advised takings average between £2,000 - £2,500 per week and were as high as £3,500 per week pre-covid. A secure lease is available at a current rental of £16,000 per annum, exclusive. The 3-story property represents a great entry-level opportunity, offering huge potential to expand several revenue streams that include but are not limited to yoga classes and private hire. Selling with a full complement of equipment, including an eclectic mix of fixtures & fittings, creating a relaxed environment. Early viewing is advised.
Location
The premises are located in a thoroughfare within the town center that houses a vibrant mix of independent retailers such as an aesthetics clinic, travel agents, and butchers. Uniquely sandwiched between Halifax and Barclays, the walkthrough is complemented by major retailers such as Timpson's and E Hinds Jewellers.
Tenure
A new secure lease for a term of 5 years is available at a current rental of £16,000 per annum, exclusive. The lease contains a tenant-only break clause in 2024.
Exterior Front
A good-sized shop front with almost full-height glazed display windows on either side of a recessed wood-framed, part-glazed main door entrance with seating directly in front.
Coffee Shop, Ground Floor
Measuring 31.11 x 19.09, approximately 631.74 sq. ft. it benefits from solid wood-type flooring throughout, air- conditioning and heating, CCTV, wall-mounted speakers, ceiling-mounted strip light spotlights, and an industrial-type large bulb hanging feature light. The recessed bay windows feature a display on one side and bay window seating on the other. The coffee shop has almost full-height chalkboard display menus, a bespoke wooden display counter, and a serving area with kitchen prep directly behind. Comfortably accommodating 20+ internal covers with an eclectic mix of soft furnishings, tables, chairs, and sofas creates a unique feel throughout. The coffee shop is equipped with a counter-top cake display with glass cake domes above, an upright cake display fridge, and a tablet-based till system.
Kitchen Prep area
The kitchen prep area is further equipped with a 2-group coffee machine, coffee grinder, 3 x blender mixers, double sink unit, dishwasher, under-counter freezer, under-counter double-door drinks display fridge, single panini press, double panini press, counter-top single induction hob, stainless-steel prep counters, a 2-door fridge unit with a stainless-steel prep counter with a 5-pot saladette, a 3-door under-counter fridge with a prep-top counter, a counter-top double grill, a 4-slice toaster, 2 x microwaves, a jacket potato oven, racking, and shelving.
First Floor
Mirroring the ground floor the first floor is used for additional seating and private hire. Comfortably accommodating 20+ covers, the first floor benefits from ceiling-mounted hanging chandelier-type light fittings, wall-mounted speakers, solid wood-type flooring throughout and cottage-style windows at the front and rear, allowing natural light into the building. A door to a washroom with a further internal door into STAFF/CUSTOMER TOILETS. A separate SMALL OFFICE AREA with an open doorway to a small STAFF KITCHEN.
Basement
Currently used as a CHILDREN's PLAY AREA during opening hours, the basement is also used as a YOGA STUDIO along with being available for PRIVATE HIRE outside of operating hours. The basement has a separate BAKING AREA which is further equipped with an upright freezer, chest freezer, and 2 under-counter fridges.
Trading Hours
The business currently trades from 10 am until 3 pm six days a week, being closed on Sundays; however, we are informed that trading hours are unrestricted, and our client previously traded from 9 am until 5 pm. The vendor oversees the business in a part-time capacity one day a week and is assisted by a full-time chef, a full-time barista, and one part-time member of staff.
Turnover
We are advised that turnover averages between £2,000 - £2,500 per week and was as high as £3,500 per week pre-covid. Full financial information will be disclosed at our client's discretion during or after a meeting.
Business Rates
The premises are subject to a rateable value of £10,250, resulting in zero business rates payable.
Legal Costs
Each party is to be responsible for their legal costs incurred in the transaction, with the landlord's reasonable legal costs to be split 50/50.
Disclaimer
Whilst every care is taken to ensure that these particulars are correct, accuracy is in 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.
