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The premises are situated in the centre of Reigate close to the intersection between Bell Street, Church Street and High Street. This is the epicentre for foot and vehicle traffic passing through the town and offers a nice wide pavement to the front of the building.
We are delighted to offer this well-known and thriving café business in Reigate Town Centre. The premises has been under this use for a number of years with the current business owners looking to move the café on to a new custodian who has the time available to put into the business. The current owners have made a great success of Flint House with thriving daytime trade but seek a sale to provide themselves more family time. As a result of their family commitments, they have not exploited the huge opportunity of extending into an evening venue through dining and evening events. The current owners are constantly approached to host evening events and are always forward booked for the few that they can undertake, currently into December 2023.
The premises comprise a good size retail/eatery extending to approx. 60 ft depth currently arranged as a 34-cover cafe with customer WC and kitchen/preparation area to the rear plus car parking space for one car and bins in the rear yard accessed from St Lawrence’s Way.
Approx. dimensions as follows: -
Retail area approx. 605 sq ft (56.21m2)
Lobby/Kitchen 264 sq ft (24.53m2)
Net Internal Area Approx. 869 sq ft (80.73m2)
£32,500 per annum exclusive
The vendors are seeking a modest premium of £45,000 for the goodwill and fixtures & fittings in the premises. A full asset/fixtures and fittings schedule and financial trading information is available to bona fide applicants following their signing and acceptance of a confidentiality agreement.The trading name Flint House and web domain are not available for transfer to the buyer as we expect the buyer to introduce their own new brand.
The premises are available by way of assignment of an existing lease granted by the Landlord on an effective full repairing and insuring basis for a term of 10 years from` 29.10.18 to 28.10.28 within the LTA 1954 at a passing rent of £32,500 pax. The lease provides for a rent review 29.10.23 and as this is fast approaching this is already agreed between the parties at £34,000 pax so to avoid any uncertainty. In addition, should the incoming Tenant/purchaser of the business seek a new lease this can be offered at a commencing rent of £34,000 pax with final renewal terms other than rent to be discussed. Such agreements have been made ahead of time to avoid any uncertainty for the buyer. The Tenant is to keep the interior and shopfront in good repair and will bear the proportionate share of maintenance and insurance of the building with the other parts.
The premises has a rateable value of £ 27,000. All applicants should check with the local authority to confirm the rates payable.
We are advised that the premises arenot elected for VATAll rents, prices and premiums are stated exclusive of VAT under the Finance Act 1989. Accordingly, interested parties are advised to consult their professional advisers as to their liabilities, if any, in this direction.
Each party to be responsible for their own legal costs in the transaction.
Strictly by prior appointment only through sole agents:
ROBINSONS - Sole Agents