SOLD STC
Coffee by the Arch, 9 Newport, Lincoln, Lincolnshire, LN1 3DE
Leasehold
£70,000
£203.49 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
344 sq ft
32 sq m
- SECTOR
Cafe for sale
- USE CLASSUse class orders: A3 Restaurants and Cafes
A3
Key features
- EPC Rating - B
- Lease, Business and Fixtures & Fittings For Sale
- Prime Tourist and Residential 'Uphill' Area close to Lincoln's Bailgate, Cathedral & Castle
- Excellent Reputation
- Potential for Business Growth
- Rent - £10,000 per annum
Description
Location
The business is prominently located adjacent to the historic Newport Arch, providing an entrance to the Bailgate Shopping Area, one of Lincoln's most historic streets, with a range of independent boutiques, shops, bars and restaurants.
Description
FOR THE BENEFIT OF THE LEASE, BUSINESS AND ALL FIXTURES & FITTINGS - Located just off the Bailgate
within a highly prominent location, we are delighted to offer for sale this particularly popular and very well-equipped Coffee Shop Business, having an excellent reputation for high-quality food and drinks, resulting in it being popular with both local residents and tourists, given that it is situated in a prime residential area and close to the Bailgate and tourist attractions including the Cathedral and Castle. In addition to the busy daytime trade, there is potential to extend opening hours to further grow income, if desired.
The current owners have created a highly successful coffee shop and eatery, which is fully equipped to professional catering standards and fitted out to a contemporary specification, currently accommodating approximately 13 covers internally, together with a further 25 covers externally. In addition to the main open-plan kitchen and dining area, there is a customer WC fitted to a high specification and a useful store room. A full inventory of business fixtures and fittings is available on request to seriously interested parties.
Accommodation
The ground floor premises comprise a large open-plan dining area 4.85m x 3.35m with kitchen/serving area 3.75m x 2.60m, fully furnished with an eclectic mix of tables and chairs including three bar stools and a window seating area.
In addition to the indoor seating area, the outdoor seating has become highly popular, in use all year round.
Services
Mains electricity, water and drainage are connected. An air-conditioning system is installed to provide heating and cooling.
EPC Rating - B
Lease Terms
The property is held under the terms of a Lease with a current passing rent of £10,000 per annum, subject to a Rent Review in February 2025. The current Lease expires in September 2028, but the Landlord is happy to grant a longer-term Lease if required.
A deposit may also be payable to the Landlord.
Rates
Rateable Value - £5,700
Small Business Multiplier (2024/2025) 49.9p in the £.
The property may qualify for small business rates relief.
The Purchaser of this business is likely to qualify for Small Business Rates relief which, under the current framework, would give up to 100% exemption of Rates liability. Interested parties should make their own enquiries.
VAT
The Vendor has confirmed that VAT is not payable on the purchase price or the rent charged.
Legal Costs
The prospective Purchaser will be responsible for their own legal costs in relation to the purchase, together with the payment of the Agent's referencing fee of £120 inc VAT. In addition, the Purchaser will be responsible for the Landlord's reasonable legal costs associated with the Assignment of the Lease or the preparation of new Lease. Further details are available on request.
Viewing
By prior appointment through Mundys Commercial -
The business is prominently located adjacent to the historic Newport Arch, providing an entrance to the Bailgate Shopping Area, one of Lincoln's most historic streets, with a range of independent boutiques, shops, bars and restaurants.
Description
FOR THE BENEFIT OF THE LEASE, BUSINESS AND ALL FIXTURES & FITTINGS - Located just off the Bailgate
within a highly prominent location, we are delighted to offer for sale this particularly popular and very well-equipped Coffee Shop Business, having an excellent reputation for high-quality food and drinks, resulting in it being popular with both local residents and tourists, given that it is situated in a prime residential area and close to the Bailgate and tourist attractions including the Cathedral and Castle. In addition to the busy daytime trade, there is potential to extend opening hours to further grow income, if desired.
The current owners have created a highly successful coffee shop and eatery, which is fully equipped to professional catering standards and fitted out to a contemporary specification, currently accommodating approximately 13 covers internally, together with a further 25 covers externally. In addition to the main open-plan kitchen and dining area, there is a customer WC fitted to a high specification and a useful store room. A full inventory of business fixtures and fittings is available on request to seriously interested parties.
Accommodation
The ground floor premises comprise a large open-plan dining area 4.85m x 3.35m with kitchen/serving area 3.75m x 2.60m, fully furnished with an eclectic mix of tables and chairs including three bar stools and a window seating area.
In addition to the indoor seating area, the outdoor seating has become highly popular, in use all year round.
Services
Mains electricity, water and drainage are connected. An air-conditioning system is installed to provide heating and cooling.
EPC Rating - B
Lease Terms
The property is held under the terms of a Lease with a current passing rent of £10,000 per annum, subject to a Rent Review in February 2025. The current Lease expires in September 2028, but the Landlord is happy to grant a longer-term Lease if required.
A deposit may also be payable to the Landlord.
Rates
Rateable Value - £5,700
Small Business Multiplier (2024/2025) 49.9p in the £.
The property may qualify for small business rates relief.
The Purchaser of this business is likely to qualify for Small Business Rates relief which, under the current framework, would give up to 100% exemption of Rates liability. Interested parties should make their own enquiries.
VAT
The Vendor has confirmed that VAT is not payable on the purchase price or the rent charged.
Legal Costs
The prospective Purchaser will be responsible for their own legal costs in relation to the purchase, together with the payment of the Agent's referencing fee of £120 inc VAT. In addition, the Purchaser will be responsible for the Landlord's reasonable legal costs associated with the Assignment of the Lease or the preparation of new Lease. Further details are available on request.
Viewing
By prior appointment through Mundys Commercial -
Energy Performance Certificates
EPC 1Brochures
Coffee by the Arch, 9 Newport, Lincoln, Lincolnshire, LN1 3DE
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lincoln Central Station0.8 miles
- Hykeham Station3.9 miles
Notes
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