Property Information
Address:
62-64 King Street Cambridge Cambridgeshire CB1 1LN
,
CB1 1LN
Price: Property no longer available.
Size: SOA
Primary Category: Leisure
All Categories:
Leisure,
Property Ref/Movehut: MH587540
Property Ref/Agent: 274
*Please use the agent ref when calling the agent directly.
Property description
Flourishing coffee shop and sandwich bar in central Cambridge
Key Points
645 sq ft Gross External Area - (60 sq m)
Superbly positioned with high footfall
Enviable, and ever improving, reputation throughout Cambridge
The premises is held leasehold on a 10-year lease from Christ's College Cambridge commencing November 2015
Net turnover for the y/e October 2016 in excess of 200,000
Location
The Urban Shed is located in the centre of Cambridge along the busy thoroughfare of King Street close to both Market Square, the Grafton Centre, Christ Pieces and Midsummer Common. King Street is an established retail and leisure pitch with nearby occupiers including The Cambridge Brewhouse, St Radegund, D'Arrys, and The King Street Run.
Property
The Urban Shedis a lockup unit with internal trading area and rear deckedgarden. The trading area is all situated at ground floor level and consists of c.20 internal covers. This is supported by a servery with well-equipped kitchen behind.
The rear trade garden incorporates 12-15 covers and a further storage area to support the kitchen.
Tenure
The property isheld on afull repairing and insuring (FRI) lease held from Christ's College from 20th November 2015 for a termof 10 years, subject to a rent review in 2020.
The passing rent is14,000 per annum, exclusive of VAT.
Trading Information
The business has achieved ever-improving levels of trade since ownership. Net turnover for y/e 31st October 2016 was 203,408. This does not include the turnover of the associated outside catering business.
A full Profit & Loss account for the last 3 years can be supplied to genuinely interested parties.
Permitted Use
The property's permitted use is as a sandwich bar within Use Class A1 of the Town and Country Planning (Use Classes).
Premium
The vendor is inviting offers in the region of 75,000 for their leasehold interest inclusive of all goodwill and trade fixtures & fittings. A small number of personal items will not be included which will can be pointed out upon viewing.
Stock at valuation will be payable in addition on completion.
Rates & Charges
Business Rates
997.00 per annum (based on a Rateable Value of 12,500)
The property benefits from small business rate relief
Council Tax
Available on enquiry
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