Cafe for sale

Mayors Walk,Peterborough,PE3

Under Offer 42 sq. m. | £49,950

Property Description

Commercial information

  • Business for sale
  • 458 sq ft (42 sq m)

Full description

Tenure: Leasehold

LOCATION
Ferrari's Café occupies substantial two storey premises, ideally located within the bustling city of Peterborough in Cambridgeshire. The café is located within a parade of complimentary shops and businesses on the busy Mayors Walk, therefore benefiting from a high volume of footfall and passing trade. The business further benefits from on-street parking facilities to the front of the premises.

Peterborough is a cathedral city, situated 75 miles north of London. The city stands on the River Nene, with an estimated residential population of 184,500. The city is a popular place for tourists and culture lovers, with a number of museums, exhibitions and historical attractions, including the beautiful cathedral. The city is also a shopper's paradise with popular places such as Bridge Street, the Queensgate Centre, the covered market, Westgate Arcade and the Rivergate Shopping Centre.

The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. Peterborough railway station is just over 10 minutes' walk away. The area is also well served by the A-roads, with the A15 being just a short drive away, which links to the national A-road and motorway networks. Both Corby and Huntingdon are approximately 25 miles away.

BUSINESS
Hilton Smythe is delighted to welcome to the market this well established and very popular café business in Peterborough, Cambridgeshire.

The business was established by our clients in 1988 and is only now being offered to the market due to our clients' desire for a well-deserved retirement. The business operates 6 days per week and generates a turnover in the region of £73,300 per annum, with a gross profit of approximately 73%.

Our clients offer a wide variety of fayre including snacks, burgers, hot filled rolls and sandwiches, omelettes, salads, full English breakfasts, vegetarian breakfasts and hot meals, as well as a selection of hot and cold beverages. Our clients also currently offer a delivery service within the immediate area.

The property boasts a spacious café area with 28 covers to the ground floor and a one bedroom self-contained flat to the first floor, with its own separate entrance, which could be used as owners' accommodation, or let out to generate further income.

The business has built up an enviable reputation within the area for the high quality of the goods and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

We feel the turnover could be increased by extending the opening hours, perhaps by offering Sunday trading. A new owner could embark on a modest marketing campaign to promote the goods and services offered or introduce an outside catering arm to the business.

This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already thriving and popular café business to the next level; therefore early viewing must come highly recommended to avoid disappointment.

PREMISES
Substantial two storey premises in an ideal trading location, briefly comprising:

Ground floor:

28 x cover café.
Serve over counter with electronic cash register.
Upright drink chiller unit.
Sink unit.
Stills boiler.
Gas fire.
Storage cabinet.

Kitchen with:

4 x burner hob.
Griddle.
Double counter top deep fat fryer.
2 x pot Bain Marie.
Microwave oven.
Toaster.
Extraction system.
Shelving.
Floor cupboard storage units with work tops.

Rear preparation/wash up area with:

Sink unit with drainer.
Hand wash basin.
2 x refrigerator/freezers.
Chest freezer.
Microwave oven.
Meat slicer.
Storage shelving.
Door leading to yard/bin area and WC.

First floor with:

Sitting room.
Galley kitchen
Bathroom.
Double bedroom.

External with:

Street frontage with shop entrance and separate door leading to side passageway and rear yard.
Parking for 3 x vehicles.
Flat access stairs.

TENURE
We are advised Leasehold:

Original lease length: 20 years
Remaining lease length: 4 years
Review every: 5 years
Rent: £385 per month.

HOURS
The business is open:

Monday - Saturday: 5.00am - 1.30pm
Sunday: Closed

STAFF
The business is owner run and managed with 3 x part time staff members.

FINANCIAL PROFILE
The business generates a turnover in the region of £73,300 per annum, with a gross profit of approximately 73%.

Nearest station

  • Peterborough (0.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299139 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Peterborough (0.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299139 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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