Leasehold for Sale
Rent: New Long Lease Available - Rental Offers in the Region of £45,000 Ex VAT per annum
New lease for long-established restaurant business at the heart of affluent Cambridgeshire village
- 311 sq m Gross External Area - (3,348 sq ft)
- New lease available, all terms to be agreed
- Alternatively, freehold offers will be considered
- Owner operated for nearly 30 years
- Outstanding greenside position in superb Cambridgeshire village
- 76 internal covers and large waiting area for takeaways
- Extensive commercial kitchen with large prep areas - 5* EHO rating
- EPC Rating: TBC
Histon & Impington, entwined villages, have become part of the urban sprawl of Cambridge, situated a few miles directly north of Cambridge City Centre, with an active resident and business community, including Vision Business Park. Substantial developments, already under construction, surround Histon including Northstowe and the NW Cambridge Development along Huntingdon Road, a 150 acre site being developed by the University of Cambridge to provide 3,000 homes, plus school, academic and research centres.
The Phoenix is a handsome red-brick built property with a slate roof. It is semi-detached and has a large single storey extension to the rear.
The main entrance is to the front of the building and provides access to its large internal trading area. Here, a central lobby provides access to the front restaurant which is laid out for 32 covers. Beyond this is a large waiting area, bar servery and further dining covers (44).
The kitchen is well-equipped with full commercial extraction and large preparatory/wash up areas including walk-in chillers. A small beer cellar and male & female WCs are also present at ground floor level.
We understand the self-contained domestic accommodation consists of 3 double bedrooms and bathroom. The property provides 14 dedicated parking spaces and there is on-street parking opposite on the green. There is a rear service yard and storage container.
The area of the pub site is 0.21 acres and the ground floor footprint (GEA) of the public house extends to 311m². These measurements are taken from digital mapping and are approximate.
The property is available by way of a new lease for a term to be agreed (likely to be 10-20 years). The rent will be reviewed annually in line with RPI but there will be no open market reviews. The new agreement will be within the provisions of the Landlord & Tenant Act (1954).
We are inviting rental offers in the region of £45,000 (per annum) and a premium in the region of £60,000 for the extensive fixtures & fittings and goodwill. Proof of funding and a business plan will be sought.
Alternatively, the vendor will consider a freehold bid, subject to contract and vacant possession only.
The business has been owner-operated by the vendor for nearly 30 years. In that time, it has traded consistently and very profitably. Detailed financial information can be made available to genuinely interested parties.
Discreet customer inspections are recommended in the first instance. Under no cirumstances should staff or customers be engaged regarding the marketing. All enquiries to be directed to Everard Cole.
Rates & Charges
Business Rates£22,061.75 per annum (based on a Rateable Value of £44,750)
Council Tax£1175.95 per annum (Band A)
20 The Green