• Assignment of 15-year lease dated 29th October 2014
• Superbly positioned unit with high footfall
• Rare central Cambridge turnkey opportunity
• Located on Hills Road close to the railway station, offices and student accommodation
• Opportunity to build on excellent reputation and increase trading hours
Property
Joy Coffee Bar & Patisserie is a lockup unit occupying the ground floor and basement of an established retail and leisure pitch close to the junction of Hills Road and Station Road.
The ground floor has large windows to the front aspect which provide an abundance of natural light into the trade area, which features a refrigerated counter with service/prep area behind, drinks display fridge and tables providing covers for c. 9 customers.
A staircase to the rear leads down to the basement, which comprises a small office area, prep room with countertop and a number of chest and standing fridge/freezers, wash up room and staff WC.
Planning
The property's permitted use is as a sandwich bar within Use Class A1 of the Town and Country Planning (Use Classes). The relevant local authority is Cambridge City Council https://www.cambridge.gov.uk
Tenure
The property is held on a full repairing and insuring (FRI) lease held from Jesus College dated from 29th October 2014 for a term of 15 years.
The passing rent is £15,960 per annum, inclusive of VAT.
Premium
Offers are invited in the region of £50,000 for the leasehold interest, inclusive of all goodwill and extensive trade fixtures & fittings. Stock at valuation will be payable in addition on completion.
Fixtures & Fittings
All trade fixtures & fittings are included in the sale. Stock will be bought in addition, at valuation, on completion.
Trading Figures & Turnover
The business is open and trading and is popular with local colleges, students from nearby schools and workers from the nearby offices. The business currently operates under limited trading hours and is closed during the weekend and evenings, thus presenting an opportunity for a purchaser to extend trading hours to benefit from the wealth of week-round passing trade.
Rates & Charges
We understand the business is eligible for 100% rate relief (based on a Rateable Value of £11,250).
Location Details:
The area around the station has seen massive commercial and residential development in recent years. Cambridge is the most used station in the East of England and sees almost 10M passengers per annum. Joy is situated in a prominent position, close to the junction with Station road, opposite the Botanical Gardens. Within walking distance are multiple office headquarters, including Mills & Reeve, Apple, Microsoft, Deloitte, Thales and Mott MacDonald.
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