Chinese Restaurants for sale in Cambridge

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Lease available for central Cambridge two-storey A3 premises

Cambridge, Cambridgeshire, England

  • Leasehold Price: £100,000
Seller Reference: CAMBSSF
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Business Description
 
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Seller Reference: CAMBSSF
Request Details
Business Description
• Fully fitted licensed restaurant premises in high footfall area
• Excellent central Cambridge leasehold opportunity
• Prominent corner building next to Anglia Ruskin University
• C. 80+ trade covers arranged over two floors
• External seating areas and dedicated parking
• Assignment of FRI lease with 9-years unexpired

Property
Shanghai Family, formerly Coeur De France, occupies a prominent end of terrace corner position comprising ground and first floor of a two-storey building, slightly set back from the street affording space for external seating.

The ground floor provides light trading space with triple aspect windows with tiled flooring and a mix of loose and fixed seating, with under seat storage. A commercial trade kitchen is located to the rear with commercial extraction, along with wash up areas, storage rooms and staff WC. The 1st floor is accessed by an internal staircase and provides additional seating which is again open plan with triple aspect windows, with dumb waiter to the ground floor kitchen. This area is regularly used for private parties and functions and benefits from male and female WC's and dedicated bar servery.

Externally, the premises provides demised staff parking area to the rear, with access for deliveries via Crispin Place, off East Road. External trade areas for tables and chairs are provided to the front and side of the property, within the demise of the lease.

Planning
The premises was designated as Restaurant & Cafe (A3 Use Class) which now falls under Class E (Commercial, business and service), which includes retail, restaurant, office, financial or professional services, indoor sports, medical and nursery uses, under the amendments to The Town and Country Planning (Use Classes) (Amendment) (England) Regulations 2020).

We are advised the property is not Listed, nor does it fall within a Conservation Area. The relevant local authority is Cambridge City Council https:www.cambridge.gov.uk

Tenure
The premises are held on a 15-year lease from 29th September 2014, with a current passing rent of £26,750 pax. The lease is outside the L&T Act and expires in 2029, the next rent review due on 29th September 2024. Permitted uses within the lease allow for A1 (retail), A3 (restaurant) and A5 (take-away) uses. A rent deposit of £12,938 is held by the landlord.

Premium
Premium offers are invited for the benefit of the leasehold interest, trade inventory and goodwill. Offers are invited in the region of £100,000, exc VAT.

Fixtures & Fittings
The premises is well fitted and all the trade inventory is to be included in the sale of the business, including all the kitchen equipment, appliances, refigeration, counters, cookers, tables and chairs.

Rates & Charges
Rateable Value: £21,000. The government has introduced a business rates holiday for retail, hospitality and leisure businesses in England for the 2020- 2021 tax year.
Tenure:
Leasehold
Location Details:
Burleigh Street is a well-known retail and leisure pitch with high footfall located in the eastern part of Cambridge City Centre, linking Fitzroy Street and East Road. The refurbished Grafton Shopping centre is nearby, which includes Decathlon, Debenham, H&M and Vue Cinema, along with Primark adjacent to the premises. Neighbouring operators include Charlie's Coffee Co. & Pizzeria, Lokum, The Snug Bar, Mamasun, The Catch and Café Oriental.
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