Green Street, Upton Park, E13

To Rent - £15,600 pa

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  • CHARMING COFFEE HOUSE BUSINESS FOR SALE
  • SITUATED ALMOST OPPOSITE LARGE NEW BUILD DEVELOPMENT
  • 40 COVERS PLUS REAR GARDEN / A1 USE
  • SCOPE FOR FUTURE GROWTH OF BUSINESS
  • PREMIUM OF £15,000 TO INCLUDE FIXTURE & FITTINGS

LOCATION:
Green Street is a road in the London Borough of Newham, East London, which forms much of the boundary between East & West Ham and ends in the Forest Gate area of Stratford. Green Street is best known for being home of the former West Ham football ground and its wide range of shops and market stalls.

The subject property is located on the busy Green Street forming part of a mixed parade of both commercial and residential properties. The premises is opposite the former football ground which is being developed to provide, as we understand around 840 one and two bedroom flats.


DESCRIPTION:
The subject property comprises a ground floor lock-up 'A1' premises with a bay windowed frontage incorporating a single entrance door to one side.

There is an open plan public area approaching 500 square feet with tables and chairs for approximately 40 persons with further seating available in the rear garden. The counter position / preparation area is to the left hand side as you enter. Behind the seating area is a small passageway which has a door to left to a toilet, a door to the right to a small kitchen (75 sq. ft), plus a door at the rear leading out to the garden.

The public area is finished off with pine effect flooring, painted walls & ceiling, drop lighting plus wall lights giving the overall feel and appearance of a clean modern business.

The business is that of a coffee house serving pastries and cakes as well as light lunches breakfasts and cold drinks. We are informed that there is an alcohol licence from midday up until midnight.

The premises was acquired by our client in January 2018 who immediately refitted and improved and opened to trade in February 2018. Now due to other business commitments it means that our client is reluctantly having to sell the business. These same commitments has seen the opening hours being reduced to opening weekends only, Saturday 9am through to 11pm and 11am to 5pm on Sunday.

We understand that the fixture and fittings were acquired when the business opened and are owned outright with nothing held on either lease or loan agreements.

TRADING INFORMATION:
At the time of our inspection we were able to discuss recent trading levels with our client who advised that recent sales of around £800. Applicants are advised to confirm these figures for themselves when viewing.

We feel that in the hands of new owners who have the time, enthusiasm and vision to devote to this business then sales could be quickly increased.

TENURE:
We are informed that the premises are held on a 10 year lease from January 2018 and at a passing rental of £15,600 per annum. We understand that the next rent review is in 2022

A rental deposit may be required subject to status.

EPC:
The premises has an EPC rating of: C - 52.

RATES:
We understand that the rateable value is £7,200 per annum. Applicants are advised to contact the relevant council in respect of claiming small business rate relief.

IMPORTANT NOTICE

Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.