Licensed Restaurant serving afternoon teas, and tapas in Cambridge with two bedroom apartment

·       Licensed Restaurant serving afternoon teas, lunches and tapas

·       Two bedroom owners’ apartment

·       Situated in a sought-after Cambridgeshire market town

·       Well-presented throughout

·       Healthy turnover and profits with scope to improve

·       Excellent local reputation

·       Valuable inventory of quality fixtures & fittings

·       Plenty of customer car parking nearby

·       Premises would suit a variety of different cuisines

·       Fantastic change of lifestyle opportunity

·       Sensible trading hours over five days

·       Locally sourced produce used wherever possible

Falcon Commercial is delighted to offer for sale this extremely well-presented restaurant serving afternoon teas, lunches and tapas that benefits from a two-bedroom owner’s apartment and is located in the ever-popular county of  Cambridgeshire. The business occupies a highly visible prime trading position in a sought-after trading town. It has been under the proud ownership of our client since 2016 during which time they have made considerable investment and improvements to the premises. This fantastic opportunity is now reluctantly being placed on the market to allow the owner to focus on other business interests.

During our client’s stewardship, the easily run business has built up an excellent reputation for its welcoming friendly atmosphere, great service and superb food, all of which is locally sourced and made on the premises wherever possible.

This thriving business is mainly operated as a restaurant serving afternoon teas, lunches and tapas along with functions such as grazing buffets for wakes and special events. There are often numerous regular bookings for baby showers and hen parties

Our client runs the business with help from a dedicated team of full and part-time staff. It generates an excellent turnover which is in the region of £211,196 per year with healthy gross profit margins.

There is ample scope for continued growth, not least with regard to the possible expansion of events such as the extremely popular Mother’s Day and Christmas Afternoon Teas. There is also tremendous potential to increase turnover by possibly running a modest marketing campaign or extending the opening hours.

This rarely available opportunity is not to be missed and early negotiations with Falcon Commercial come highly recommended.

The Premises

The premises benefit from a fantastic and highly visible trading position on a busy street in a sought-after Cambridgeshire market town.

They occupy a substantial and well-maintained three-storey leasehold building which is fitted and presented to high trade specifications throughout.

There is ample customer car parking close by.

The premises briefly comprise:

Ground Floor

·         Main Restaurant area which is open plan and has approximately 30 covers.

·         Ground Floor Kitchen

·         Customer Toilets

Lower Ground Floor

•    Cellar

First  Floor

·         First Floor Dining Area with approximately 14 covers

·         Function Room for 12

·         First Floor kitchen

·         Customer Toilet

·         Staff Room

·         Office

·         Staff Toilet

Second  Floor – Owners Apartment

•          Lounge with dedicated Kitchen area

•          Bathroom

•          Double Bedroom

•          Single Bedroom

External

·         Undercover heated customer seating area for approximately 16

·         Additional seating for approximately 20

Business Details

Opening Hours

·        Monday Closed

·        Tuesday 11.00am – 3.00pm

·        Wednesday 11.00 am – 3.00 pm

·        Thursday 11.00am – 3.00pm & 5.30pm – 9.00pm

·        Friday 11.00am – 10.00pm

·        Saturday 10.00am – 11.00pm

·        Sunday Closed

·        Bank Holidays Closed

Turnover

·        £211,196 Per year

Business Rates

Business rates payable: Nil

Interested parties should make their own enquiries of the local billing authority to ascertain the exact rates that are payable or questions can be made online at the VOA website www.voa.gov.uk

Stock

The business stock value is: £5,000

Staff

The business is run by the proprietor with help from a dedicated team of full and part-time staff.

EPC

Commercial Energy Performance rating: TBC

Tenure

·        Leasehold.

·        We are advised that the business comes with the benefit of a secure lease which was originally for 20 years and has 14 years remaining. The current rent payable is £1666.67 per month

Please Note: The Code for Leasing Business Premises in England and Wales strongly recommends you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The Code is available through professional institutions and trade associations or through the website:  www.leasingbusinesspremises.co.uk

Legal Costs

Each party is to bear their own legal costs incurred in the transaction. This may not include the landlords

Accounts

Accounts will be provided to genuine purchasers after a formal viewing.

Planning

For further information, you should make your own enquiries to the relevant District Council.

Viewing

Strictly by appointment with the vendor\'s agents, Falcon Commercial

Agents Note

Please remember that selling a business can be a sensitive issue and staff or suppliers may not be aware of a sale at this point. Do not attempt to contact the business directly. Thank you