Cafe/Coffee House, Wanstead, London
- SIZE AVAILABLE
659 sq ft
61 sq m
- SECTOR
Restaurant for sale
Description
Location
The premises is located in a highly enviable position, directly opposite a recreational park with exceedingly high levels of footfall and vehicular passing trade, being positioned just 0.2 miles from the station. The premises is surrounded by both independent and big name traders, including a pharmacy, Superdrug and Natwest Bank to name a few.
Tenure 1
We are advised the premises is subject to a 10-year renewable lease at a current rental of £41,000 per annum exclusive.
Tenure 2
Terrace retail shop situated directly opposite a large recreational park, fascia board, extending awning over a forecourt seating area currently arranged for 12 covers (could accommodate more if required) and single glazed entrance door leading into the premises which measures approximately 659 sq. ft. and is arranged as follows:
Main Cafe Area
with tiled chessboard style flooring, suspended ceiling, panel lighting and currently arranged for 60 covers. To the rear of the main cafe area is a chest-height serve-over counter with countertop bread display, a chilled serve-over display unit, large double Coca Cola drinks display fridge. Behind the counter is a till and Just Eat system.
Kitchen
Further back from the serve-over counter is the open-plan KITCHEN equipped with various stainless-steel prep tables, 2-group coffee machine, Lincat hot water dispenser, coffee grinder, under-counter fridge, Bain Marie, commercial extractor over, griddle, twin-basket fryer, 6-burner oven, wash-hand basin, 4-slice toaster, 2 x microwave, double panini press, dishwasher, stainless-steel sink, large upright freezer.
Courtyard Area
A door at the rear of the kitchen area leads out to a COURTYARD AREA at the end of which is a GARAGE utilised for storage and currently equipped with 4 chest freezers, various racking, shelving and a large walk-in fridge with lighting. Another opening at the rear of the main cafe area leads into WCs.
Staff & Trading Hours
The business is run by the vendor on a full-time basis with the assistance of 1 full-time member and 6 part-time members of staff. Monday to Saturday 7 am to 5 pm, Sunday 8 am till 4 pm. We are advised these hours are unrestricted so massive scope for a purchaser to increase these hours to capture the evening trade.
Turnover
We are advised turnover averages £7,000 to £8,000 per week working to the usual high gross profit margins associated with the trade.
Business Rates
The premises is subject to a rateable value of £25,000 and we are advised business rates are currently payable at £3,000 per annum.
Legal Costs
Each party are to be responsible for their own, with the landlord's legal costs to be split 50/50.
Cafe/Coffee House, Wanstead, London
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Wanstead Station1.3 miles
- Snaresbrook Station1.5 miles
- Redbridge Station1.8 miles
Gilbert & Rose Business Transfer and Commercial Property Sales and Lettings
Gilbert & Rose is a respected and well-established name in the real estate industry, renowned for our expertise in Residential Sales and Lettings. Building on our success in this area, we have expanded our services to encompass business transfer and commercial property sales and lettings. As part of this strategic expansion, we have recently partnered with Bradleys Countrywide Limited, a highly regarded company
Notes
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