About this property
Well established busy licensed café for sale in a great location in Newport Town Centre.
Situated in the heart of the County Town of Newport, this café is in a very prominent position in St James’ Square. Neighbouring businesses include Pandora, Topshop and NatWest.
Newport is the principle town of the Island and offers amenities including St Marys Hospital, various primary and secondary schools, doctors’ surgeries, churches, cinema and the Isle of Wight County Hall. The 2011 Census shows a population of circa 25,500.
A licensed café in a beautiful Grade II Listed premises offering 24 covers inside and 45 covers to the outdoor seating area with takeaway available. The property has a serving area of approximately 12 sq m (129 sq ft), kitchen of approximately 6 sq m (64 sq ft) plus café seating of approximately 26 sq m (279 sq m).
There is a WC and store.
The business is currently traded to suit the owners 6 days a week, operating from 9am – 4pm in the winter months and 9am – 5pm + in the summer months. There is potential to expand on this and offer evening meals if required.
The sale also includes an outside catering business, again with great potential to expand.
Offered for sale with a new 10 year lease from June 2019. Annual rent payable £11,000pa.
A copy of the lease and accounts will be available once a viewing has been undertaken and an NDA signed.
Our clients are fully operating and have had screens made to allow for safe trading of the internal seating areas.
Our client is asking guide price £115,000 for the assignment of the lease, fixtures, fittings and goodwill plus stock at valuation.
The VOA shows the rateable value as £11,000. Rates payable circa £5,550 per annum. The current owners pay zero business rates.
Please note this property will be eligible for small business rates relief. Enquiries to be directed to the IOW Council – 01983 821000.
All viewings to be arranged via HRD Commercial. Please contact 01983 527727.