A unique opportunity to let this Grade II Listed, commercial property offered for sale with vacant possession. The property spans ground and first floors with a small courtyard to rear and is located on the popular Crouch Street in Colchester City Centre. The existing business including equipment can be purchased if required for a premium of £20,000.
DESCRIPTION
An attractive, grade II listed commercial property over ground and first floors extending to approximately 750 Sq Ft. Accommodation comprises main retail area to ground floor with serving counter and seating area, store room to rear and small courtyard for bin storage. To the first floor there is additional seating area or storage space plus, kitchen & WC. The premises is currently owner occupied as a dessert parlour (equipment and goodwill can be purchased by separate negotiation).
LOCATION
Located on the busy Crouch Street in the heart of Colchester City Centre, a vibrant street boasting a mix of boutique retailers, eateries & pubs and opposite a Tesco Express.
PLANNING
The premises is currently used as a dessert parlour falling within use class E. Alternate uses may also be possible, enquiries should be made to Colchester City Council.
BUSINESS RATES
The property appears in the VOA Ratings List as Shop and Premises with a Rateable Value of £12,250, giving approximate rates payable of £5,292 PA. The ingoing occupier may qualify for partial Small Business Rate Relief subject to meeting eligibility criteria.
BUSINESS
Tub & Cone is an established dessert cafe offering coffee and a range of desserts and cakes for consumption on site or takeaway. The current owner is willing to sell the goodwill and all equipment should the buyer be looking to continue to run the business for a premium of £20,000.
TERMS
– Deposit equivalent to one quarters rent required (£5,000)
– Rent payable quarterly in advance
– Preferred minimum term of 5 years
– Outside of the 1954 Landlord & Tenant Act
VAT
We understand the building is not elected for VAT and therefore the rent will not be subject to VAT.
TENANT CHECKS
An admin fee of £100 +VAT will be payable following acceptance of Heads of Terms to cover the cost of carrying out credit checks on the ingoing Ltd company or individuals.
AGENTS NOTE
The premises is also available Freehold at £300,000.
