Location
The premises are located within a busy and popular leisure area on Ridley Place which runs just off Northumberland Street in the heart of the main shopping district.
Ridley Place has benefitted from a significant makeover over the last couple of years which has included the provision of pavement terraces and seating areas to support the food outlets in this part of the City. The shop sits between the two University campuses and there are extremely high levels of captive trade.
Business
The business opportunity will comprise a single fronted retail unit trading as a busy and long-established sandwich bar located in the heart of the City centre. The business has been trading from the site for over 20 years and is on the market as our client wishes to semi retire and reduce their work commitments.
The premises are in excellent order and are fully fitted and equipped for the trade. The menu comprises a broad range of sandwiches, salads and paninis, all of which are made to order. Cakes, confectionery, and hot and cold drinks are also available across the counter.
The business has a loyal and growing customer base comprising students, local shop and office workers plus a good number of regulars. The shop opens daytimes only and whilst there are some collection orders, most of the takings come from the steady walk in and repeat trade.
The short hours trading regime is through personal choice, rather than custom, and there is scope for new owners to develop the business and to extend the trading hours, particularly by opening on a Sunday where there is a real demand.
New owners could look at offering other services, such as outside catering, delivery rounds, or even developing a pop-up store for markets and events. The business is a rare to the market opportunity with strong profit margins and the potential for further growth in the right hands.
Premises
Comprise a self-contained ground floor shop which forms part of a small secondary shopping area.
Ground Floor
Retail / Service Area circa 25 sq.m. (270 sq.ft.).
Kitchen / Prep / Store circa 23 sq.m. (250 sq.ft.).
Basement
Stores circa 16 sq.m. (170 sq.ft.)
W.C.
External
1x allocated parking space to rear.
Staff
Operated by our client (1) with the help of 8 staff.
Fixtures & Fittings
A full inventory would be made available to bona fide purchasers prior to an exchange of contracts.
Trading Hours
Monday - Friday 8.00am - 3.00pm
Saturday 8.30am - 3.00pm
Sunday closed
Rates
The premises are assessed as follows:
Rateable Value £10,000 (2023 list)
Rates free incentives subject to individual status.
Tenure
The premises are held on a 10 year EFRI lease from August 2023 at a passing rent of £19,000 per annum. There are break clauses and rent reviews at the 5th anniversary. Further details available on request.
EPC
Rating - D.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations, the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
