Location
The business is located on Newgate Street which is one of the main routes into the town centre from the north. Morpeth is an extremely popular market town around 15 miles north of Newcastle upon Tyne and well served by road and rail links. The premises are close to one of the pedestrian accesses to the main car and bus station and there are high levels of footfall.
Business
This is a well-established business which has been trading successfully since 2015 but has been placed on the market as our client is now making plans to retire.
The business trades as an upmarket coffee shop and is extensively fitted and equipped for the trade. There is a fitted bar and service area with tables and chairs in the main dining area for 25 to 30 covers and then located within the former bank vault is another small seating area. The smaller space is popular with the regulars and is often booked in advance for small parties and one to one meetings and there is outside seating for when the weather permits.
The current menu comprises breakfasts, light bites and lunches plus hot and cold drinks. The premises are licensed to sell alcohol and new owners could diversify the menu to offer more restaurant or bistro options during the day or extend the trading hours into the evening to attract a new clientele. The kitchen is a good size and could cope with an expanded menu.
This is an excellent opportunity for motivated new owners to drive forward and take full advantage of the alcohol licence and the current short hours.
Premises
Comprises a self-contained ground floor unit forming part of a larger property.
Ground Floor
Café Area circa 460 sq.ft. (43 sq.m.).
Kitchen circa 170 sq.ft. (16 sq.m.)
Stores
Ladies W.C.
Gents W.C.
Staff
Currently operated by our client with the help of 3 part time members of staff.
Trading Hours
Monday - Saturday 9.00am – 4.00pm
Sunday closed
Fixtures & Fittings
A full inventory would be made available prior to an exchange of contracts.
Rates
We are verbally informed that the premises are assessed as follows:
Rateable Value £10,250
Rates free incentives subject to status.
Tenure
Held on 10 year lease from 2015 with a current passing rent of £18,000 per annum rising to £20,000 per annum in December 2022. Interested parties should seek legal confirmation of this.
EPC
Rating B.
Money Laundering Regulations:
In accordance with the current Anti-Money Laundering Regulations the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.
