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Vibrant Cafe in Newport Pagnell, Milton Keynes for Sale

Newport Pagnell, Buckinghamshire

£37,500 +SAV

Ref: 2237

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Description

Hilton Smythe is delighted to welcome to the market this well-established café business in Newport Pagnell, Milton Keynes. The business was established in the 1990s and has been in our client’s careful ownership since 2013. Only now is the business offered to the market due to our clients` ill health. The business is open 7 days a week and has a turnover in the region of £76,000, with a gross profit of approximately £53,000.

The Picture House Café is a long established and popular 40 cover café in a prime location. The business is setup over two levels and is fitted to a high standard throughout with high quality wooden tables and chairs, vibrant decor and top quality catering equipment. The café sells a wide range of products including a range of snacks, breakfast, full meals, cakes and a variety of hot and cold beverages.

The business has seen an increase in turnover since the current owner took over, but we feel the business could be expanded further by offering deliveries of lunch platters to local businesses and outside catering would also greatly improve turnover.

This is an excellent opportunity for a new owner to take this long established and thriving business to the next level; therefore early viewing must come highly recommended.

Tenure

Leasehold

We are advised leasehold.

Rent per quarter: £3850 plus VAT
Original lease length: 15 Years
Remaining lease length: 14 years

We are advised that there is a service charge of £2,700 per annum.

Hours

The business is open:

Monday – Friday: 8:30am til 4pm
Saturday: 8:30 – 5pm
Sunday: 9am – 3pm

Staff

The business is owner run and managed.

Financial Profile

The business generates a turnover in the region of £76,000 per annum, with a gross profit of approximately £53,000.

Location

The Picture House Café is located in Newport Pagnell, Milton Keynes.

Ideally located at the main entrance to a busting arcade in the heart of Newport Pagnell town centre, the business has great footfall from passing shoppers. Located in close proximity to banks and other shops and a public car park. The arcade has many complimentary business. The A509 road is approximately 5 minute’s drive away and the M1 Motor way is around the same distance. A bus stop is conveniently stationed outside the café.

Newport Pagnell is a modern, thriving market town situated in the Borough of Milton Keynes. The town is position adjacent to the M1 motorway and close to the new city of Milton Keynes, and in the midst of the Buckinghamshire countryside. Newport Pagnell is approximately 25 minutes away from the city of Bradford and 30 minutes from Northampton.

Premises

Double fronted corner premise.

Briefly Summarising:-

The café has a total of 40 covers.

Ground floor:
Main entrance – within Arcade
16 x covers plus 10 covers outside.
Service area/kitchen with re-fridgerated serve over, 1x till, service counter, coca cola drinks fridge and high quality modern tables and chairs.
Behind counter – double counter top fryer, under-counter fridge and freezer, 2 x microwaves, 4x pot bain, 2x ring hob, griddle, panini machine, hand wash, coffee machine, grinder and extractor hood.

Basement room:
14x covers additional seating area.
Toilet facilities
Storage cupboards
Service area with upright commercial freezer, 1x under-counter fridge, under-counter freezer, 2x stainless steel preparation tables, double bowl commercial sink and high quality modern tables and chairs.
Rear storage room with shelving and racking.

External:
Located with frontage on main street and entrance within gated arcade (converted former cinema building)
Outdoor seating area.

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