The business is prominently located fronting onto Castle Street, in the Town Centre of Shrewsbury, within proximity of a variety of national multiples, including Home Bargains, Marks and Spencer, Waitrose and Burger King.
Shrewsbury is the County Town of Shropshire, with a borough population in excess of 90,000 people and an estimated retail catchment in excess of 250,000 people within a thirty minute drive time. In addition, Shrewsbury Tourism Economic Impact Assessment estimate that in excess of 2.5 million people visit the town annually with an estimated tourism spend in excess of £130,000,000.
The town will become a university town in September with the first university intake, which will add to the fact that the town is already an established tourist centre benefiting from many historical buildings.
The property is arranged to provide an attractive tearoom and cafe arranged over ground and upper ground floors. The property provides an open plan seating area for 64 covers with a servery area, separate kitchen, office, stores and toilets. The property is well fitted out.
The business has been run by the existing proprietors since June 2008 and is only reluctantly offered for sale due to personal circumstances. The business offers a well established tearoom / cafe offering breakfasts and lunchtime meals of sandwiches, burgers, quiches, soups, etc.
The business is run by the proprietors with the assistance of full time and part time staff. The opening hours are 9am to 4pm, Monday-Saturday.
The turnover for the year 2015 was £164,000 and the gross profit margin 44.5%. Further details are available upon request, including audited accounts.
Fixtures and Fittings
Items usually classed as tenants fixtures and fittings including restaurant furniture, base fittings, decorations and pictures, cooking and kitchen equipment, server, floor coverings, CCTV, etc., are included in the sale. Wet and dry stock to be purchased separately at valuation.
(All measurements are approximate only)
Total Net Sales 91.07 sq m (980 sq ft)
Upper Ground Floor
Kitchen 11.71 sq m (126 sq ft)
Preparation Area/ 18.77 sq m (202 sq ft)
The property is subject to a 10 year Tenants Full Repairing and Insuring lease from 3rd March 2015. The rent is £16,000 per annum in year one, £17,000 per annum in year two, £18,000 per annum in year three, £20,000 per annum in year four and £24,000 per annum thereafter.We have made verbal enquiries to the local authority and have
been advised as follows: -
Rateable Value (2015/16): £16,750
Rates Payable (2015/16): £8,257.75
However, interested parties should make their own enquiries to the local authority.