Price: £49,950

Highly attractive city centre tea rooms

Ref: C 921

Tenure: Leasehold

These delightful tea rooms have been established for over 30 years and have been in the same ownership for the past 11 years. The business is located in the heart of the city centre very close to the Coppergate centre and Cliffords Tower and thus benefits from both local and tourist trade.  The business specialises in the sale of hot and cold drinks, sandwiches, cakes, salads, baked potatoes and other light meals and snacks and has a small but fully equipped kitchen off the main seating area as well as storage space to the rear of the building.   The business is currently run almost entirely by staff due to the current owners ill health but should ideally be run by a two person team with part time assistance.  Early viewing of this most appealing business is strongly recommended.

ACCOMMODATION ( note, all sizes are approximate )

Food Sales Area approx 33.3 sq m ( 359 sq ft)   having covers for at least 30 around attractive wooden tables and bentwood chairs, carved timber serving counter with under counter fridge, cake fridge, filter coffee machine, milk cooler and dispenser, hot water boiler and steamer, electronic cash register.

Kitchen being fitted with mostly stainless steel equipment including two fridges, two microwave ovens, Lincat grill, commercial toasted sandwich maker, ice cream freezer, deep sink unit and separate hand wash basin.

There are ladies and gents wc facilities as well as a useful store room to the rear of the building containing a chest freezer, upright freezer, larder fridge, shelving and racking. A further small store lies beyond.

RATES

The premises are shown on the Valuation Office Rating web site as having a RV of £11,250.. Under current arrangements for small businesses, no rates should be payable by most occupiers however interested parties should check this information prior to proceeding.

LEASE

The premises are held on lease from City of York Council for 5 years from July 2018 at a rent fixed at £12,250 pa. Please note we have not had sight of the lease when preparing these particulars therefore this information requires confirmation.

BUSINESS

Accounts for year ended 5/4/2018 show sales of £77,239 and a Gross profit of £60,745. We calculate that assuming a two person team was running the business, the adjusted net profit will be around £26,000 and could easily be considerably more. There are currently four weekday staff, one working 3 days and three working 2 days. There are an additional five student staff helpers for weekends. The owner works on some Saturdays and the occasional Sunday.  Opening hours are 10.00am to 4.00pm 7 days. Full accounts information can be made available to genuinely interested parties after having viewed the business.

EPC

The property is a Listed Building and is therefore understood not to require an EPC.

COSTS

The purchaser and vendor will each pay 50% of  the landlords legal costs involved in assigning the lease.

PRICE

Around £49,950 + sav. to include all fixtures and fittings except one or two personal items.

Viewing
By arrangement with The Agents on 01904 794812.
Important
Where staff are employed in a business, it is possible that they are unaware of any impending sale, therefore it is essential that all viewings are arranged through us and no direct approaches should be made under any circumstances.
Vat
All prices and rents are deemed to be exclusive of any VAT which may apply.
Note
Details and general information provided within these particulars have been confirmed by The Client, are given in good faith and are believed to be correct, however all proposed purchasers/tenants must satisfy themselves as to the correctness of the information provided. We understand that all services and items of equipment are in functional order, but no warranties can be given in this respect. Neither the agents nor any person in their employ bind themselves in any way, nor are any warranties given as to the correctness of the information provided. No part of these particulars form part of any contract or agreement for sale or lease

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