Freehold Cafe Restaurant In Kings Heath Birmingham For Sale

Business description

A great opportunity to purchase a substantial freehold property having large ground floor café/restaurant area with seating for up to 45 with rear kitchen storerooms and office WC and outside rear garden with seating area and garage and to the first and second floors 3 flats producing a good rental income. Currently operating as an organic café with a turnover averaging £3,000 per week with a 70% gross profit yield operating daytimes only 9am to 5pm 6 days and 10am to 3pm Sundays. Income from 3 flats amounts to £14,160 per annum that is inclusive of bills. The premise is situated just off Kings Heath High St in a mixed busy commercial area together with a large residential community. The business is for sale at £64,500 with the whole property secured on a new lease term negotiable and with a rent of £28,000 per annum. The ground floor shop only can be rented at £16,000 per annum.

Property information

Property:

Freehold

Lease terms:

A new lease will be granted terms negotiable

Leasehold rent:

£28,000 per annum

Living accommodation:

On the first floor there is a shared kitchen and bathroom with one double bedroom and one single bedroom and the rental income is £420 per month and £340 per month respectively. On the second floor there is a self contained flat with kitchen lounge/bedroom and shower room with the rent £420 per month. All rents are inclusive of bills.

Location:

Superbly located property in the heart of Kings Heath Town centre

Premises details:

Sunstantial property with ground floor cafe/restaurant area kitchen store room and office and outside patio area with further seating WC and garage which could be converted to further seating area or kitchen/bar (subject to planning consent)

Planning consent:

The property has A3 cafe/restaurant use

Business Operation

Trading hours:

9.00am to 5.00pm Monday to Friday 10.00am to 5.00pm Saturday and 10.00am to 3.00pm Sunday

Employees:

Operated by the owner with 4 part time staff

Other information

Support & training:

Full tuition will be given to any new owner

Financing available:

Hurdley & Co can introduce you to various business brokers or banks depending on your circumstances. We now have a qualified commercial broker with us able to offer finance from prime lenders at reasonable interest rates.

Leasehold asking price:

£64,500