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LEASEHOLD RETAIL/ANCILLARY CAFÉ PREMISES - 1 ROSE LODGE, COURT ARCADE, WHARF ROAD
£35,000 is sought for the leasehold interest held on a FRI lease. |
The first floor café is situated in an excellent trading location midway along Wharf Road with beach and harbour views.
LOCATION:
St Ives is one of the most characterful and busiest resorts in the south west. The quaint harbour town is extremely popular during the summer season but also benefits from tourist trade throughout the year due largely to the Tate Gallery and its links with the artist community. The town is highly sought after by national, regional and local retailers and there are numerous respected restaurants, bistros and cafes.
SITUATION:
The property is situated in an excellent trading location midway along Wharf Road, the busy thoroughfare comprising numerous popular restaurants, takeaways and retail outlets overlooking the character harbour and beach. The café is in close proximity to Fore Street, an all round busy retail area, along with The Sloop car park.
DESCRIPTION:
The first floor characteristic premises, part of Court Arcade, provides open plan café/retail accommodation with excellent natural light. A large picture window faces directly onto the main beach and harbour, offering uncompromised views. Bare floorboards, exposed stonework to some walls and roof trusses give the unit a contemporary, rustic feel.
ACCOMMODATION: (All dimensions and areas are approximate)
Sales area 57.96m² (624 ft²)
Kitchenette 5.33m² ( 57 ft²)
BUSINESS:
The business has traded successfully for over 5 years. The property is fully equipped with fridges, coffee machine, sandwich display/chiller, tables, chairs etc. Account details are available to interested applicants and the business has enormous potential for ‘expansion’ with evening opening subject to Landlord’s consent.
PRICE:
£35,000 is sought for the leasehold interest, as a going concern.
LEASE TERMS:
The premises is available by way of an assignment of the existing 6 year lease commencing 1st October 2013 at a commencing rent of £12,000 per annum payable quarterly in advance. The lease is a proportional full repairing and insuring by means of a service charge. The lease will be subject to three yearly rent reviews.
RATES:
Rateable Value £6,600 (2010 list)
Cornwall Council are the charging authority and enquiries regarding the rates payable and eligibility for small business relief should be made with them - Tel: 0300 1234171.
VAT:
We understand that VAT is not payable on the rent.
COSTS:
The ingoing assignee to be responsible for the assignor’s and landlord’s reasonable legal costs incurred in the preparation and execution of the lease.
ENERGY EFFICIENCY RATING - TBC
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