Retail property (high street) to rent

LOCATION
The property is situated in a prime business location within Cowbridge town centre on the privately owned Birds Lane Retail Development which is anchored by a Waitrose Food Store.

The subject property is set within a parade of four retail/leisure units and provides a ground floor footprint of 129 sq m (1380 sq ft) GIA.

The property has the benefit of a purpose built fit out for use as a Café and premises with approximately 85.8 sq m (923 sq.ft) of dining area, a professional kitchen extending to 23.8 sq m (257 sq ft) ancillary customer and staff WC’s together with first floor storage.

The property is being marketed as a Going Concern with the benefit of a high quality fit out and trade fixtures and fittings.

The open plan Café area is fitted out to a contemporary eclectic finish with mis matched furniture including a combination of hardwood tables and chairs together with some granite and cast-iron furniture. The feature of the dining room is a marble topped display counter and servery.

The immaculate professional kitchen is finished to the latest Health & Safety requirements and is to be left fully fitted with extraction and air handling equipment and is considered suitable for Café use and a variety of other cuisines.

The property has the benefit of all mains services connected together with CCTV, fire alarm system and a monitored intruder alarm.

The dining room provides for approximately 48 covers with the lease allowing for 12 to 14 outside covers.

DESCRIPTION
This established and family owned Café business is being offered up “For Sale” as a Going Concern. Profit and Loss Accounts and Management Accounts are to be made available to seriously interested parties.

Premium offers in excess of £75,000 are invited for the business goodwill, quality fit out and all trade fixtures and fittings.

TERMS
The business is being sold leasehold by way of an assignment of the existing lease. The property is currently held under terms of a 10 year secure FRI lease from 14th July 2014. The passing rental is £34,000 per annum exclusive.

The lease allows for use as a Licenced Retail Café and Premises within Use Classes A1 and A3.

OUTGOINGS
The Valuation Office Agency website advises a rateable value of £28,000. Rates payable then for 2020/21 would be in sum of £14,980 per annum albeit ingoing tenant should qualify from 100% small business rates relief for the current financial year.

VAT
All figures quoted are exclusive of VAT if applicable.

LEGAL COSTS
All figures quoted are exclusive of VAT if applicable.

VIEWING
Strictly by appointment only through
sole marketing agents:

Messrs Watts & Morgan LLP
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Please ask for Dyfed Miles or Sara Magness