The two subject premises are located in Haymarket Terrace and Dundas Street in Edinburgh both of which are high footfall areas throughout the day with commuters, business people and tourists trade. Both premises are located in parades of similar styled retail/licensed and office properties under traditional tenement buildings.
We are instructed to sell the Lezzetli sandwich shop and catering business which comprises two City Centre outlets including the freehold of the Haymarket Terrace property and the assignation of the lease for the Dundas Street shop. This is a well-established, busy and thriving catering business.
The business may be sold as a whole or in two separate lots – 1) Haymarket Terrace 2) Dundas Street.
Both of the subject properties comprise a ground floor sales area with a lower ground floor for preparation, storage and staff areas. Internally, the units are split on the ground floor between a front sales area and a back shop with the emphasis on the sales area.
The Haymarket unit benefits from a Class 3 Hot food Consent whilst the Dundas Street unit benefits from a Class 1 Retail Use. All hot food for the Dundas Street premises are freshly prepared and delivered from the Haymarket Terrace outlet. The large and extensively fitted commercial kitchen in Haymarket is laid out accordingly to service both units. Rear vehicular access allows easy transportation between units.
Our client will be retiring from the catering trade at the conclusion of this sale.
This is a thriving and well established sandwich bar and catering business with an enviable reputation built up over 14 years of trading. The business trades from Monday to Friday however there is potential to open up at the weekends to service locals, tradesmen and tourists. The business is based on mainly counter sales however it boasts a significant market share in outside catering to local offices and businesses.
The turnover for the year ending April 2017 amounted to £377,891 with a gross profit of 46.9%. The turnover has been on a upward trend over the past few years.
Copies of certified accounts are available and can be made available to prospective buyers once they have viewed the business.
This offers an outstanding opportunity for a catering professional to expand their existing catering business or for someone moving into catering business.
According to our recent measurement survey the premises contain the following approximate net internal area:
Haymarket Terrace, Edinburgh
Ground Floor 43.14 sq. m. (464 sq. ft.)
Lower Ground floor 72.90 sq. m. (784 sq. ft.)
Dundas Street, Edinburgh
Ground Floor 33.74 sq. m. (363 sq. ft.)
Lower Ground floor 34.12 sq. m. (367 sq. ft.)
Our client is seeking offers over £325,000 to include the freehold of the Haymarket Terrace unit, the assignation of the Dundas Street unit and the goodwill of the business.
The business is available as a whole or can be split into two separate parts. 1) The sale of the Haymarket Terrace unit. 2) The lease of the Dundas Street unit. Further details available on request.
According to the Scottish Assessor’s website (www.saa.gov.uk) the Haymarket Terrace property has a Rateable Value of £7,100. The Dundas Street property has a Rateable Value of £9,800. The uniform business rate for the current year is £0.484 pence in the pound.
Occupiers may be eligible for rates relief through the small business bonus scheme if the combined Rateable Value of all their business premises in Scotland is £35,000 or less.
The properties are served by mains electricity, water and gas.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is pending.
A copy of the recommendation report is available on request.
Each party shall bear their own legal costs in the preparation of the lease with the eventual tenant liable for any Registration Dues or LBTT thereon.
Upon completion of a formal missive under Scots Law.
VIEWING AND FURTHER INFORMATION
By appointment through the sole selling agent, IME Property Ltd.