Lease for Sale Cafe/Restaurant premises, Newbury Street, Wantage

General description

Fully equipped ground floor café premises offered on a turnkey basis, located on the east side of Newbury Street in the heart of Wantage town centre.

Location

The rapidly expanding, historic market town of Wantage along with nearby Grove is located in affluent southern Oxfordshire approximately 14 miles southwest of Oxford and 6 miles west of the A34 Milton Interchange near Didcot, at the junction of the A338 and A417.

Accommodation (all dimensions approximate)

The forward area presently caters for approx. 30 covers and also has a long serving area with glass fronted refrigerators, there is a catering kitchen at the rear with overhead extraction and a unisex disabled size WC for customer use. An inner hallway leads to the rear of the premises where there are three storerooms and a staff WC. There is also twin door delivery access off Post Office Lane.

The floor areas – forward area; 10.65m x 9.51m = 101.28sq.m/1090sq.ft, kitchen area; 3.97m x 2.81m = 11.15sq.m/120sq.ft, storeroom 1; 3.43m x 1.81m = 6.20sq.m/66sq.ft, storeroom 2; 6.51m x 5.39m = 35.08sq.m/377sq.ft and storeroom 3; 4.50m x 3.53m = 15.88sq.m/170sq.ft.

Summary sublease details

Remaining term – 8 years
Rent – currently £1,983.33pcm/£23,800.00p.a exclusive
Service charge – A periodic contribution to the upkeep of the common parts of the building is payable in addition.
Repairing and insuring liability – An effective full repairing and insuring lease.
Security of tenure – the lease is held inside the security of tenure provisions of ss.24 to 28 of Part 2 of the Landlord & Tenant Act 1954.
Permitted use – formerly A1 to A3 use, now held under Use Class E: Commercial, Business & Service.

Premium for lease

£40,000 to include the benefit of the lease, the inventory in situ as seen (i.e. the tables, chairs, crockery, cutlery, catering appliances and utensils) and use of the trading name “Cozzy Lounge” if required.

Business Rates

Rateable Value - £19,500 (April 2023). The Small Business Multiplier for 2025/26 is 0.499 (= £9,730.50 payable). Please contact VWHDC directly for confirmation and the availability of any additional business rates relief.

VAT

We understand that VAT is/not payable in addition to the rent.

Services

Mains water, electricity, and drainage are connected. Telephone/broadband and trade waste disposal by the tenant's own subscriptions.

EPC rating

D/83. Full details available on request.

Local planning and rating authority

Vale of White Horse District Council – Abbey House, Abbey Close, Abingdon, Oxon OX14 3JN
Tel:

Viewing

By prior arrangement with the sole agent Green & Co Commercial and Development Agency, Monday to Friday only between 9am and 6pm. Tel. ref. RH or email robin.

Agent's note

1. The premises form part of a Grade II Listed Building located within the town centre's designated Primary Shopping Frontage and Conservation Areas.
2. The long leasehold/headlease interest in the premises is not for sale.
3. No warranty is given or inferred as to the efficient working of any of the appliances or equipment remaining in situ. Prospective assignees must satisfy themselves accordingly.