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Very Popular Daytime Licensed Cafe/tea Room In Northampton For Sale

Northampton, Northamptonshire, UK
Asking Price:
£28,500
Turnover:
£114,469
Net Profit:
Available on request

This is an excellent opportunity to acquire a very popular independent catering business which is somewhat unusual in that it is located within the historic Rennie Mackintosh House and Galleries, Northampton. An internal inspection is strongly recommended of this well presented and easily run daytime licenced café/tea room, located within a building of significant historic and architectural interest, generating good profits and providing growth potential to enthusiastic hands on working owners. The business is offered for sale as the vendors are looking to focus on other business interests outside of Northampton.

Key features:
- Independent catering business located within the historic Rennie Mackintosh House & Galleries – Northampton
- Owned by vendors 14 years
- Easily run concern with tremendous expansion potential - grounds being developed for future alfresco dining and functions
- Excellent reputation for quality of cuisine with afternoon teas extremely popular
- Daytime trade only – Tuesday to Sunday 10.00 am to 5.00 pm on 11
month trading (closed during January)
- Recently constructed patio with alfresco seating for 8 diners plus lawned area recently landscaped – ideal location for a marquee to accommodate functions
- Leasehold – rent £15,400 per annum includes all utilities (gas, electricity, water & service charge) no business rates charged
- Internal inspection strongly recommended to fully appreciate the quality and potential of this catering opportunity. all viewings strictly by prior appointment only through Business Partnership

Property Information

Property:

Leasehold

Lease Terms:

The property is held on lease for a period of 10 years from 30th July 2018. The current passing rent is £15,400 per annum and it should be noted that this includes all utilities – gas, electricity water and service charge which certainly assists with budgeting and gives some protection from the recent hikes in utility prices. The lease is granted on internal repairing terms, subject to annual rent reviews in line with RPI.

Subject to the status of the assignee, the landlord may request a rent deposit equivalent to 3 or 6 months’ annual rental, to be held for the duration of the lease. Purchasers should take this into consideration when preparing financial forecasts and budgets.

Location:

Northampton is the County town of Northamptonshire and lies on the River Nene, approximately 67 miles north-west of London and 50 miles South East of Birmingham. The population approximates 212,000 (2011). Famous for its shoemaking, since the turn of the millennium Northampton has expanded both in terms of residential housing developments on the outskirts of the town and also regeneration work to the town centre which is ongoing, including the complete refurbishment of the railway station and relocation of the bus station. In 2006 Northampton became a Government Expansion Zone. There is a University campus located within the town and a state of the art further education college was opened recently. Major employers include Barclaycard, Nationwide Building Society, Travis Perkins and Carlsberg.

The town has excellent transport links being close to junctions 15, 15a and 16 of the M1 motorway. The town also has rail links with London and Birmingham via the West Coast mainline.

Premises Details:

The premises briefly comprise tea room approximating 239 ft.² with seating for 26 diners, stock room/preparation room approximating 144 ft.² (also used for coffee preparation) and a well equipped kitchen approximating 128 ft.².

Business Operation

Reasons for selling:

Family circumstances.

Years established:
14