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West Parade, LincolnA3 - Restaurants / Cafes

£35,000
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About this property

LOCATION
West Parade is a busy through-road, linking the West End District to Lincoln City Centre and is a bustling Residential District.

DESCRIPTION
We are delighted to offer for sale this popular and established Italian-Style Coffee Shop & Bistro within the lively West End District of Lincoln, popular with students and young families, providing an excellent client base for this stylish Italian-Style Trattoria renowned for providing home-cooked All Day Breakfasts, Panini’s/Light Lunches, Pasta, Pizza and Espresso Coffees. The business is offered for sale due to the current Owners retiring and there is also considered excellent potential for increasing turnover by increasing trading hours.

The current Owners have created a highly successful Italian Bistro/Coffee Shop renowned for its authentic Italian home-cooked menu, which varies daily. The property has the benefit of an ‘A3 Restaurant’ Planning Permission and in addition to the busy daytime trade, the owners have introduced a highly successful ‘Friday Evening Pizza Night’.

The Dining Area can accommodate up to 16 covers, together with outdoor seating in the summer months to the front and rear, where there is a courtyard/parking space included. The property is simple but stylishly furnished and has a very well-equipped Kitchen fitted to a catering standard and incorporating a five pizza oven, espresso coffee machine, double-oven and hot plate, plus American-style larder fridge. A full inventory of fixtures & fittings is available to interested parties.

The current Owners have recently secured Planning Consent for ‘A3 Restaurant’ uses, in order that the business can be further developed. The ‘Friday Evening Pizza Night’ has become highly popular and this could be extended throughout the week to increase turnover if desired.

ACCOMMODATION
The Dining Area is 3.9m x 3.6m and is attractively furnished to provide up to 16 covers. The Dining Area is open-plan with the fully equipped Kitchen measuring 3.2m x 2.8m and to the rear is a WC Compartment and Store.

Externally, a courtyard frontage can accommodate Bistro tables and chairs, whilst to the rear, a useful car parking space can double up as a further outdoor dining area during the summer months.

SERVICES
Mains electricity, water and drainage are connected.

Energy Rating – E.

TERMS
The property is available ‘To Let’ under the terms of a new Lease for a term of years to be agreed, at an asking rent of £4,800 pa for the first year and then increase by 3% pa. Full details in respect of the new Lease are available on request.

The ingoing Tenant is responsible for a Referencing Fee in the sum of £100 inc VAT, together with the Landlord’s reasonable legal costs for the production of the Lease.

OUTGOINGS
Rateable Value – £1,725

In the event that a full rating liability is required, the current rates payable would be in the region of £826.28 per annum (Rate to the pound for 2017/18 is 47.9 pence).

Prospective Tenants are likely to qualify for Small Business Rates Relief which, under the current framework, would give up to 100% exemption of rates liability. Interested parties should make their own enquiries.

LEGAL COSTS
The ingoing Tenant is responsible for a Referencing Fee in the sum of £100 inc VAT, together with the Landlord’s reasonable legal costs for the production of the Lease.

PLANNING
A3 Restaurant

VIEWING
By prior appointment through Mundys Commercial – 01522 556088

Energy Performance Cerificate (EPC)