Sought after city centre cafe and restaurant opportunity est. 2011
The property comprises two former retail premises and is of single storey brick construction under a part pitched tile and flat roof with a wrap-around glazed exterior. To the front of the property is a terrace with seating for approximately 36 customers.
The property benefits from an open plan customer area with 52 seats, service counter and small preparation area with extraction. An ‘accessible’ unisex WC is provided. The property benefits from good natural light from the two main frontages.
Eat, Drink and Be is a popular independent café business established in 2011 providing a breakfast and lunch menu alongside a wide range of beverages. The café benefits from good levels of custom from local business, residents, visitors and tourists.
The cafe business normally trades Monday to Friday 08:00 - 17:00, Saturday 09:00 - 17:00 and Sunday 10:00 - 16:00. For more information please visit www.eatdrinkbe.co.uk.
The business has operated a separate five year concession agreement at Winchester Crown Court,
open to separate negotiation.
Staff will be protected under TUPE and transferred. We recommend interested parties seek independent advice on staff liability.
Fixtures & Fittings
We understand that all trade fixtures and fittings owned outright by our client will be transferred on completion. Stock at valuation will be purchased in addition on completion.
Leasehold. The property is held on two co-terminus leases which benefit from a 12 year extension from 25 March 2020. The passing rent is £64,500 per annum exclusive subject to three yearly rent reviews.
Our client is seeking to dispose of the entire share capital of Encontro Ltd which currently holds the lease on the property. Premium offers are invited.
The subject property is on the 2017 Rating List with a Rateable Value of £49,500. The Small Business Multiplier for 2019/20 is 49.9p/£. Please check www.voa.gov.uk for up to date information on rates payable.
Planning & Use
We understand the premises benefit from fomer Class A3 Use, currently Class E under the Town and Country Planning (Use Classes) Order 1897 (as amended). Class E covers cafe, restaurant, retail, business and professional services.
Formal viewings are arranged strictly by appointment with Savills. Please do not approach the business directly.