The Site Is Arguably In One Of The Best Locations.
- Asking Price: £79,995
- Turnover: We are advised the business is currently turning over in the region of £160,000 per annum with a healthy gross profit.The current rateable value of the premises is £10,500 per annum.There are currently no business rates payable.
- Tenure: Leasehold
Hilton Smythe are delighted to welcome to the market Grayz Tea Room in Lincoln. The business has been operated by the current owner for over 7 years and has been trading as a Tea Room within this Cathedral City for over 20 years.The site is arguably in one of the best locations in Lincoln being only a stone’s throw away from the Castle and Cathedral which generate substantial footfall within the Uphill Area which is also full of boutique shops and businesses.The Tea Room serves a range of breakfast options, jacket potatoes, paninis, sandwiches as well as a range of tasty cakes and pastries served throughout the day with tea and coffee. Due to retirement this well established and sought-after business is now available for a new operator to put their own spin on things continuing to take the business forward to the next level.The site would benefit both an established operator looking for a foot hold within this area of Lincoln as well as new operator looking for a fresh challenge but with the added benefit of taking on a well-established site with a strong turnover and gross profit with further opportunity for expansion. A turn key business opportunity not to be missed. www.grayzoflincoln.co.uk
The business is run and managed by 1 x full time and 6 x part time staff with vendor assist.
The opening hours are currently from Easter are 10.00 am to 5.00 pm Monday to Sunday and from October to Easter 10.00 am to 4.00 pm six days a week.
Situated within the centre of the Uphill Area of Lincoln on Gordon Road the site is easily accessible off the A46 Ring Road the A15 & A158 following the tourist signs to the Castle.The Tea Room is just a stone’s throw away from the Castle and Lincoln Cathedral with the added benefit of ample pay and display car parking next to the business.
Ground floor Tea Room located on Gordon Road in Lincoln, main trading area with 26 indoor covers and further seating available outside, service counter, kitchen and ground floor WC. Cooking facilities, stainless steel preparation areas, coffee machine, tables and chairs, the business is being sold to be able to function in its current format.
We are advised the business is being sold as a Leasehold opportunity with the current rent passing at £10,800 per annum with 2.5 years remaining on a 10-year lease.The current rateable value of the premises is £10,500 per annum.There are currently no business rates payable