BUSINESS: The business was established in 2005 and has been in our client’s careful ownership since 2008. Only now is the business being offered to the market due to our client’s desire to concentrate on other business interests. The business has built up an enviable reputation within the area for the very high quality of the goods and services offered, which has resulted in a very loyal client base, with a very high volume of repeat trade and word of mouth recommendations.
DESCRIPTION: Our client offers a wide variety of food including full English and Italian style breakfasts, salads, pasta, various Italian dishes and hot and cold sandwiches, to name a few, as well as a variety of hot and cold beverages. Our client also offers a delivery service, which has proved very popular and outside catering, which includes three contracts with local authorities. The property boasts approximately 87½ square meters of floor space, incorporating a spacious service area with approximately 30 covers and a commercial kitchen, Main café area with 11 tables and 30 chairs, main serve over counter, display refrigerator, delicatessen refrigerator, drinks refrigerator, Coca Cola branded refrigerator (free loan from coca Cola), 2 x under counter freezers, under counter refrigerator, 2 x panini presses, under counter glass washer, 3 x microwave ovens, 2 x group arm coffee machines and grinders, 6 x CCTV system, air conditioning unit, commercial refrigerator, freezer, griddle, fan oven, dairy refrigerator, 3 x large freezers, 2 x chest freezers, glass fronted refrigerator, 2 x store rooms, Gents WC & Ladies/disabled WC.
SCOPE: We feel there is scope to increase the turnover by extending the opening hours, perhaps by opening in the evenings as a bistro or offering Sunday trading. A new owner could also embark on a modest marketing campaign to promote the food and services offered. The coffee shop already has a website in place, which offers online ordering facilities.
USES: A3/A4/A5 Restaurant & Cafes/Drinking Establishments & Hot Food takeaways.
PREMIUM: £85,000 Guide price for the benefit of the lease, fixtures, fittings and goodwill.
RENTAL: £16,000 per annum
TERMS: Original lease length: 25 years with remaining lease length 9½ years & review every: 5 years
BUSINESS RATES: Approximately £7,300 per year. Interested parties are encouraged to make their own enquiries with the Borough of Tower Hamlets
SIZE: Approximately 936 sq ft
OPENING HOURS: Monday - Saturday: 8.00am - 6.00pm & Sunday Closed.
STAFF: Owner managed with 4 staff
TURNOVER: Current turnover is in excess of £184,000 per annum approximately
ACCOUNTS: Available on request on viewing
LEGAL COST: Each party is to bear their own legal cost but incoming party to pay for freeholders costs
LOCAL AUTHORITY: Tower Hamlets
ENERGY PERFORMANCE CERTIFICATE: Energy Performance Asset Rating is 59 - C Rating. A copy of this property’s energy performance certificate can be viewed at www.london-properties.co.uk as a pdf file
REFERENCES CHARGE: London Properties charges a fee of £200 plus VAT for taking up references for proposed tenants. This fee is non refundable after the references have been taken up, whether they are accepted or not by the Landlord
FIXTURE & FITTINGS: Any fixtures, fittings, equipment, machinery and plants which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition
AGENT NOTE: London Properties for themselves for Lessors, Vendors and their agents, give notice that:-
1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries
2. These details do not constitute any part of an offer or contract.
3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties.
4. All rent prices, fees and charges are quoted exclusive of VAT
VIEWINGS: Through London Properties by appointment only.
Number of Employees: Owner managed with 4 staff
London Properties are pleased to offer to the market this busy cafe prominently located on popular and busy Roman Road in Bow, London within walking distance to Roman Road Market & 5 minutes away from Iceland, Tesco Metro, Poundland & other retailers. The nearest stations are Mile End, Boe Road & Bow Church. he business was established in 2005 and has been in our client's careful ownership since 2008. Only now is the business being offered to the market due to our client's desire to concentrate on other business interests. The business has built up an enviable reputation within the area for the very high quality of the goods and services offered, which has resulted in a very loyal client base, with a very high volume of repeat trade and word of mouth recommendations. Internal viewings are highly recommended through London Properties by appointments only
Original lease length: 25 years with remaining lease length 9½ years & review every: 5 years
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