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London Properties Are Pleased To Offer To The Market This Established Located At The Junction Of Well Street And Morning Lane for Sale

East London, London

Leasehold : £ 65,000
Turnover : £ 3,077 p.w.

London Properties are pleased to offer to the market this established Located at the junction of Well Street and Morning Lane (B113) and benefits from being on an active commercial parade that is well served by the local community, as well as being a stone throw away from the renowned Hackney Walk Designer Village & Hackney Central Overground Station. The business was established in 2005 and has been in our client's careful ownership since 2010. Only now is the business being offered to the market due to our client's desire to concentrate on other business interests. Internal viewings are highly recommended through London Properties by appointment only.

LOCATION: This Property is Located at the junction of Well Street and Morning Lane (B113) and benefits from being on an active commercial parade that is well served by the local community, as well as being a stone throw away from the renowned Hackney Walk Designer Village & Hackney Central Overground Station.

DESCRIPTION: Substantial ground floor premises, ideally located in a prime trading location, briefly comprising: Main café area with 10 tables and 40 chairs, main serve over counter, delicatessen refrigerator, drinks refrigerator, Coca Cola branded refrigerator (free loan from coca Cola), under counter freezers, under counter refrigerator, panini presses, under counter glass washer, microwave ovens, coffee machines and grinders, CCTV system, WC.

Kitchen with commercial refrigerator, freezer, griddle, fan oven, dairy refrigerator, large freezers, chest freezers, store rooms and WC.

BUSINESS: The business was established in 2005 and has been in our client’s careful ownership since 2010. Only now is the business being offered to the market due to our client’s desire to concentrate on other business interests. Our client offers a wide variety of fayre including full English, salads, pasta, various dishes and hot and cold sandwiches, to name a few, as well as a variety of hot and cold beverages. The business has built up an enviable reputation within the area for the very high quality of the goods and services offered, which has resulted in a very loyal client base, with a very high volume of repeat trade and word of mouth recommendations.We feel there is scope to increase the turnover by extending the opening hours, perhaps by opening in the evenings as a bistro or offering Sunday trading. A new owner could also embark on a modest marketing campaign to promote the food and services offered. This is an excellent opportunity for a new owner to take this already thriving business to the next level; therefore early viewing must come highly recommended to avoid disappointment.

PREMIUM: £65,000 for the benefit of the lease, fixture & fittings

USES: A3

RENTAL: £16,000 per annum

TERMS: Original lease length: 25 years with remaining lease length: 13 years unexpired with rent review: 5 yearly

BUSINESS RATES: Interested parties are advised to make their own enquiries to the local authority.

SIZE: Approximately 807 sq ft

OPENING HOURS: Monday - Saturday: 7.00am - 4.00pm & Sunday Closed

STAFF: Owner managed with 4 staff

TURNOVER: Current turnover in excess of £160,000 per annum

LEGAL COST: Each party to bear their own legal costs

LOCAL AUTHORITY: Hackney

COVERS: 10 Covers

REFERENCE CHARGE: London Properties charges a fee of £200 plus VAT for taking up references for proposed tenants. This fee is non refundable after the references have been taken up, whether they are accepted or not by the Landlord.

HOLDING DEPOSIT: A holding deposit will be required to secure the property the deposit will buy a period of exclusivity and will be held in the London Properties client account

FIXTURE & FITTINGS: Any fixtures, fittings, equipment, machinery and plants which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition.

AGENT NOTE: London Properties for themselves for Lessors, Vendors and their agents, give notice that:-

1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries.

2. These details do not constitute any part of an offer or contract.

3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties.

4. All rent prices, fees and charges are quoted exclusive of VAT


VIEWINGS: Through London Properties by appointment only


Trading Hours: Original lease length: 25 years with remaining lease length: 13 years unexpired with rent review: 5 yearly
 
Staffing: Owner managed with 4 staff
 
Tenure: Original lease length: 25 years with remaining lease length: 13 years unexpired with rent review: 5 yearly
 
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120 Advert ID 48735    Sellers Ref : E9 6RG/BSOL

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