Restaurant/cafe for sale

£695,000 (£224.92/sq. ft) Fixed price

6-6A Orwell Place, Ipswich IP4

Restaurant/cafe for sale 3,090 sq. ft*
Interested in this property? Call +44 1473 679871 * or Request Details

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Property features

  • Prominent town centre location, Grade II Listed
  • Conservatory and outside terrace/smoking area
  • Established business for over 30 years
  • Available due to retirement
  • For sale at a price of £695,000
  • To let on new lease £39,000 per annum exclusive

Property description

The premises are situated in Orwell Place, in a prominent location close to the town centre. There are several other restaurant premises within the immediate vicinity.

The property is Grade II Listed of brick and slate construction under a flat roof. The ground floor accommodation provides for a 100 cover restaurant with a well equipped kitchen. The premises currently trades under a 5 star rating. There is a bar area, conservatory dining area, storage, outside terrace dining/smoking area, cupboard, ladies and gents wc's and first floor storage area, plus first floor 4 bedroom living accommodation which is currently producing £600 per calendar month.

Terms & Tenure
The property is available for sale freehold at a price of £695,000, or alternatively to let on a new full repairing and insuring lease, for a term of years to be agreed, with 3 yearly rent reviews, at a commencing rental of £39,000 per annum exclusive, with an ingoing premium of £145,000 to include leasehold, goodwill and fixtures and fittings. The turnover for the year ended 2016 was £287,411 showing a net profit of £42,000 with a gross profit of 73%.

Property info

* Sizes listed are approximations. Please contact the agent to verify actual sizes.

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For more information about this property, please contact
Penn Commercial, IP2 on +44 1473 679871 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Penn Commercial, and do not constitute property particulars. Please contact Penn Commercial for full details and further information. The Running Costs data displayed on this page are provided by Homes24 to give an indication of potential running costs based on various data sources. Homes24 does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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