No. 1 Kitchen, 1 Castle Street, Stamford, PE9 2RA
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- Primary use
- Restaurant
- Other use(s)
- Cafe, Bar or nightclub
Key features
- New Lease Opportunity
- Private Free of Tie Lease
- Stamford Town Centre
- Rear South Facing Terrace (c.60 covers)
- Annual T/O of £261,000 (4 days a week trade)
- 55 internal covers | EPC Rating C
- ingoing premium £60,000
- Christie & Co Ref: 5760517
Description
No.1 Kitchen currently operates as a Bar and Grill focusing on a simple menu with fresh ingredients, with a drinks menu focusing on cocktails and spirts.
The bar is well fitted and trading for around 35 hours a week, with an average weekly turnover of £5,500
Stamford is a historic market town in the southern parts of Lincolnshire and borders of Rutland, Cambridgeshire and Northamptonshire. The town is easily accessible from the A1 and around 1 hour from London by train.
The town benefits from a significant tourism industry with many hotels and licensed premises. Local retail shops consist of high end independent stores along with a strong local hospitality sector, mostly in keeping with the historic architecture of the town.
No. 1 Kitchen is located on Castle Street, part of the town centre with excellent footfall. The rear of the site looks out onto Bath Row public car park.
The unit has a street entrance on Castle Street, leading directly into the main trading area, which is one open plan room with a small bar and till point. Behind the bar, there is a commercial kitchen.
A central stairwell leads down to the customer toilets and secondary trading area which acts as a private function room. The function room has its own bar and window hatch to serve the rear terrace. Additional storage rooms and an office complete the lower ground floor
Fixtures and fittings are included.
External DetailsThe unit benefits a large south facing trading area to the rear of the premises. This terrace can accommodate around 60 covers and is accessed from both the premises entrance from Castle Street and from Bath Row.
The terrace boasts views over the River Welland Town Meadows and benefits from Bath Row public car park on the doorstep. The terrace is a fantastic asset and has acted as a hub for various events
Two private car parking spaces are available with the lease.
There is no owners accommodation
The OpportunityBeing located in the heart of the town centre, there is a wide and varied opportunity for an operator to either continue the existing trade, or to introduce a new concept on different trading hours.
The current business focuses on weekends, evening and late night trade, but with a commercial kitchen, the venue can easily operate for weekdays and the all-day trade markets.
No staff will be transferred.
Vacant possession.
The site has been run as a lifestyle business for 12 years, in conjunction with other business interests in the local area.
Turnover for year ending September 2024 - £261,266.
Further trading information can be made available to serious applicants.
Monday to Wednesday
Closed
Thursday
5.00pm ? 8.00pm (last orders)
Friday & Saturday
12:00noon - 10:00pm
Sunday
12:00noon ? 8.00pm
Current trading hours total c.30 hours a week.
The venue is open for 48 weeks
New Free of Tie Lease with vacant possession.
TenancyA new IRI lease is being granted
Rent - £32,500 pa
Term - 10 years
Deposit - A deposit will be sought, subject to the strength of the tenant
The Rateable Value is £18,000 with effect from 1 April 2023. Confirmation of actual business rates payable should be obtained from the Local Authority.
RegulatoryPremises License 7 days a week until midnight (11.30pm on Sundays).
We are advised that the premises is Use Class E.
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- Available
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About Christie & Co, Pubs & Restaurants
We’re the leading specialist advisor for buying and selling businesses in our sectors - hotels, pubs, restaurants, childcare, healthcare, convenience retail, leisure and medical.
If you’re looking to buy or sell a business in our specialist sectors – from a pharmacy in Sussex to a hotel in Austria – our expert advice and collaborative support will help you achieve your goals. You may be an independent first-time buyer or a multinational adding to your portfolio; either way, you’ll discover that our personalised service is focused on helping you achieve your ambitions.
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We employ the largest team of sector specialists in the UK and the largest group of hotel specialists in Europe, providing professional brokerage and advisory services from offices in major cities across Britain and Europe. And because we’ve been doing this for over 80 years, we know our sectors and local markets inside out. We work closely with our clients to guide and conclude transactions of any size, covering hotels, restaurants and pubs, leisure, forecourts and convenience retail businesses, social care and elderly care, childcare & education facilities, dental practices and pharmacies.
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Disclaimer - Property reference 5760517-lease. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co, Pubs & Restaurants. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.