GENERAL DESCRIPTION
An excellent opportunity to acquire an established and profitable oatcake and sandwich business in addition to a new internal repairing lease direct with the landlord. The premises briefly comprises a front sales area with refrigerated display counters and a range of ancillary appliances and worktops to the rear of which is a further cooking/food prep area with the main kitchen area to the rear where the oatcakes are made. The premises is fully stocked with all the catering equipment required to operate, all of which is included in the sale of the business. Hamilton’s Bake Shop operates as a sole trader entity with a husband and wife team who have built the business from scratch during the last six years and due to a change in personal circumstances are now looking to sell the business as a going concern. The business operates Monday to Saturday from 7:00 am till 12:30 pm and does not employ any staff. Although the business trades profitably (accounts will be made available to those who view the property) there is scope to increase turnover further, increasing the opening hours being an obvious starting point.
Location
LOCATION
The property is located in the centre of Kidsgrove, facing The Avenue (B5371) and is next door to the public library and close to the Post Office. Kidsgrove is a town with a population of over 26,000 in Staffordshire, close to the Cheshire boarder and approx. 7 miles to the north of Newcastle under Lyme.
Accommodation
ACCOMMODATION
Front sales area: 212 sq ft
Food prep area: 68 sq ft
Storage: 51 sq ft
Rear kitchen: 144 sq ft
WC: -
Total NIA: 475 sq ft
Terms
THE BUSINSS PROPOSITION AND TENURE The business is available at an asking price of £30,000, by way of a Management Buy Out of Hamilton’s Bake Shop which operates on a sole trader basis and includes all the fixtures and fittings and intellectual property and business contacts. The vendor is also available to stay on board for a period after the sale has completed to train the new owner if necessary. The property is available by way of a new Internal Repairing lease at a rent of £6,000 pa, for a term of years to be agreed, subject to rent reviews every three years and with the incoming tenant paying £250 plus VAT for the cost of a new lease.
Specification
SERVICES
All mains services are connected. No services have been tested by the agents. All of the equipment within the property is included in the sale. The agents have not tested any of the equipment.
VAT
The sale price of the business and the rent is not subject to VAT.
BUSINESS RATES
Rateable Value: £3,900 Rates Payable: £1,946.10 pa (23/24) Note: if you qualify for small business rates relief you should be entitled to a 100% rates payable exemption.
ANTI MONEY LAUNDERING REGULATIONS
In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the responsibility of the applicant. Where appropriate we will also need to see proof of funds.