Locker Cafe

£ 160,000
Tenure
Leasehold
Description
  • Successful, turnkey business available to purchase
  • Prominent central Cambridge location
  • Immaculate ground and first floor trade areas
  • Storage and office area on third floor
  • Secluded, private terrace on first floor
  • Gross turnover in excess of £525,000 for 21-22
Property

The Locker Café occupies a 3-storey building which dates back to the early 19th century. The trade space has been refurbished in recent years and is presented in excellent order throughout, with neutral décor, wooden flooring a plenty of natural light.

On the ground floor there is a tiled serving counter to the front of the premises with access just behind to the commercial trade kitchen, which is replete with extraction. Tables for approx. 26 dining covers are provided, with a WC to the rear.

On the first floor there is a further trade area which is arranged over two levels, with tables providing around 30 covers. This floor also has a WC and the rare benefit of a private outdoor terrace to the rear.  The second floor comprises an office and storage space as well as a 3-pc staff shower/changing room. 

Externally, the premises has the benefit of a pleasant trade patio courtesy of a licence agreement currently at £7,500 per annum. The patio is opposite the café, on the corner of King Street and Manor Street.


Planning

We are advised the premises is Grade II Listed and falls within a Conservation Area. The relevant local authority is Cambridge City Council https://www.cambridge.gov.uk/

Tenure

The Landlord has agreed in principle to surrender the existing lease and regrant a new lease for a term to be agreed, dependent on concept and covenant strength. Proof of funding and a business plan will be sought from all interested applicants.

Premium

Offers in the region of £160,000 (exc VAT) are sought for the benefit of this thriving business, including goodwill, website and social media and the trade inventory.

The Business

The Locker Café is an established and successful business which enjoys excellent trade 7 days a week.  The business has experienced an impressive rate of growth since its inception, with gross turnover for the year 21-22 exceeding £525,000, despite the setbacks of the pandemic. There is opportunity to further grow the business by extending trading hours into the evening and making the first floor available for private hire, which was utilised pre-COVID-19. Further trading information is available to genuinely interested parties who have viewed the premises.

Rates & Charges

Business Rates: £8,233.50 per annum (based on a Rateable Value of £16,500).

Country
England
County
Cambridgeshire
Town
Cambridge
Address
54 King Street
Post Code
CB1 1LN
Reference Number
RF193835
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