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Turnkey opportunity for sizeable central Cambridge city centre Restaurant

Cambridge, Cambridgeshire, England

  • Leasehold Price: £90,000
Seller Reference: CAMBSGH
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Business Description
 
 
 
 
 
 
 
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Seller Reference: CAMBSGH
Request Details
Business Description
• Assignment of 20-year lease dated 19th October 2015
• Turnkey operation - established and successful business
• Superb, central Cambridge location
• Spacious, open-plan trade space over two storeys
• Presented in excellent order throughout
• Well-equipped commercial kitchen with full extraction

Property
Gourmet House is a two-storey, double fronted, brick-built building with painted and rendered façade.

On the ground floor, the front entrance opens into the open-plan and light main trade space, which features tile flooring, a central staircase to the first floor and a bar servery to the rear. The whole space can accommodate c. 52 covers. Stairs to the side lead down to the basement, which provides useful storage space. To the side of the premises there is a 'shop' area which is separate from the restaurant with its own entrance. To the rear, there is a fully-fitted and well-appointed commercial trade kitchen with extraction. An adjoining lean-to at the rear provides storage space, a staff WC and access to a staff staircase leading to the first floor.

The first floor has additional open-plan dining space for c. 60 covers and includes a small bar with dumbwaiter. The size of the space makes it perfectly suitable for private functions. Male and female WCs are located to the rear.

Measurements
Ground Floor Basement: 16.3m²
Restaurant: 93.9m² First Floor
Kitchen: 28.6m² Restaurant: 80.5m²
Internal storage: 4.5m² Public toilets: 6.7m²
External storage: 9.7m² Public toilets: 5.9m²
Total: 246.1m²
Measurements have been taken from the valuation office agency and are approximate.

Planning
We are advised the premises is not Listed but does fall within a Conservation Area. The relevant local authority is Cambridge City Council https://www.cambridge.gov.uk/

Tenure
The premises is held on a 20-year lease dated 19th October 2015 from a private Landlord. The lease is full repairing and insuring with a passing rent of £39,000 per annum (excluding VAT). The most recent rent review was settled in 2020 and permitted uses within the lease allow for A3 (restaurant) and A5 (take-away). The lease is outside the Landlord & Tenant Act.

Premium
Premium offers are sought in the region of £90,000 for the benefit of the leasehold interest, inclusive of all goodwill and trade fixtures & fittings (save for 3rd party owned items). Stock at valuation will be payable in addition on completion.

Rates & Charges
Rateable Value: £28,500.

The government has introduced a business rates holiday for retail, hospitality and leisure businesses until June 30th 2021. A further two-thirds discount will be effective for the remainder of the 2021 - 2022 tax year.
Tenure:
Leasehold
Location Details:
Gourmet House is superbly located on Castle Street, just a stone's throw from the city centre. Nearby operators include The Architect, Castle Inn, Area Café, Maharaja and Nivedyam.
Listed by:
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