Leasehold cafe / restaurant in Aberystwyth

This property is marketed by:
Sidney Phillips

Key Features

• Cardigan Bay University Town Café/Restaurant
• Attractive open plan split level Dining Areas (40)
• Outside Trade Area for up to 10, with Gazebo
• Pavement Seating (12)
• Very popular, highly profitable business
• Turnover £400,000 net of VAT (daytime opening only)
• www.goodcafeaward.com/winner/2024/sophies-aberystwyth

Description

Aberystwyth has a bustling town centre with an extensive hospitality industry, and the Café is located on North Parade which is ostensibly part of the main High Street which runs through the town centre. The café occupies the ground floor of a larger building and is a well established business which has traded under this name for over 20 years. It is well and fully equipped and immaculately presented.

TENURE & PRICE

LEASEHOLD £60,000 to include goodwill and trade furniture, fixtures, fittings and effects. Stock at valuation in addition.

The premises are held on a part repairing and insuring lease agreement from a private individual for a term of ten years commencing May 2015. The lease is excluded from the security provisions of the Landlord & Tenant Act 1954 and is fully assignable. Rent currently stands at £26,400 per annum paid monthly in advance, subject to five yearly rent reviews. The lease is free of all trade ties.

The freeholder has confirmed he is willing to extend the lease by a further seven years.