Urban Shed, Cambridge
Leasehold for Sale
Rent: Passing Rent - £14,000 Ex VAT per annum
Price: Offers in the Region of £55,000 Ex VAT
Flourishing coffee shop and sandwich bar in central Cambridge
- 645 sq ft Gross External Area - (60 sq m)
- Superbly positioned with high footfall
- Enviable, and ever improving, reputation throughout Cambridge
- The premises is held leasehold on a 10-year lease from Christ's College Cambridge commencing November 2015
- Net turnover for the y/e October 2016 in excess of £200,000
The Urban Shed is located in the centre of Cambridge along the busy thoroughfare of King Street close to both Market Square, the Grafton Centre, Christ Pieces and Midsummer Common. King Street is an established retail and leisure pitch with nearby occupiers including The Cambridge Brewhouse, St Radegund, D'Arrys, and The King Street Run.
The Urban Shed is a lockup unit with internal trading area and rear decked garden. The trading area is all situated at ground floor level and consists of c. 20 internal covers. This is supported by a servery with well-equipped kitchen behind.
The rear trade garden incorporates 12-15 covers and a further storage area to support the kitchen.
The property is held on a full repairing and insuring (FRI) lease held from Christ's College from 20th November 2015 for a term of 10 years, subject to a rent review in 2020.
The passing rent is £14,000 per annum, exclusive of VAT.
The business has achieved ever-improving levels of trade since ownership. Net turnover for y/e 31st October 2016 was £203,408. This does not include the turnover of the associated outside catering business.
A full Profit & Loss account for the last 3 years can be supplied to genuinely interested parties.
The property's permitted use is as a sandwich bar within Use Class A1 of the Town and Country Planning (Use Classes).
The vendor is inviting offers in the region of £55,000 for their leasehold interest inclusive of all goodwill and trade fixtures & fittings. A small number of personal items will not be included which will can be pointed out upon viewing.
Stock at valuation will be payable in addition on completion.
Rates & Charges
Business Rates£997.00 per annum (based on a Rateable Value of £12,500)
The property benefits from small business rate relief
Council TaxAvailable on enquiry
62-64 King Street