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Obscura Cafe, The Square

For sale: £1,000,000.00|2,575 Sq Ft|Restaurants/Cafes, Pubs/Bars/Clubs, Licensed & Leisure

Property details

FOR SALE£1,000,000.00
SIZE2,575 Sq Ft
ADDRESSObscura Cafe, The Square, Bournemouth, BH2 6ED
TYPERestaurants/Cafes, Pubs/Bars/Clubs, Licensed & Leisure
TENUREFor Sale Leasehold
POSTED ON31st May 2022

Description

Key Points

  • Prominent position close to Boots, Bobbys (new department store) and the forthcoming Ivy Cafe restaurant
  • Within walking distance of Bournemouth Beach and Bournemouth Pier
  • The venue for regional auditions of ‘X Factor’ and ‘Britain’s Got Talent’
  • GIA 2,575 sqft (239 sq m)
  • Seating for 116 customers internally and 300 externally
  • Lease with 29 years unexpired
  • Landmark ‘Trophy’ property with excellent billboard / promotion / branding potential
  • Summary

    A unique cafe/restaurant opportunity in Bournemouth town centre.

    Description

    The Obscura Café is unique. It was built approximately 20 years ago and is one of Bournemouth’s most recognisable buildings. The two storey, pavilion-like structure has been designed to maximise its orientation to a south facing aspect and offer a year round opportunity for customers to enjoy the hospitality on offer. The ground floor extends to approximately 1,800 sqft and accommodates 68 seated customers with additional space for standing. In addition, at ground floor level, there are storage areas, customer WCs and a loading bay, making deliveries convenient. The first floor extends to approximately 775 sqft and can seat a further 48 customers.

    The outside space is a great asset to the café. The demised premises include not only the areas beneath the front canopy where around 50 ‘under cover’ seats are provided but a large section of The Square overlooking the Central and Lower Gardens where a further 250 customers can be seated.

    Viewings

    For a formal viewing, strictly by appointment with Savills.

    Location

    The Obscura Cafe is in a prime location within Bournemouth town centre. There is a constantly high level of footfall around the property given its centre of town position and proximity to the retail areas of Commercial Road and Old Christchurch Road, The Central and Lower Gardens, the Bournemouth International Centre (for concerts and conferences of up to 10,000 people), the Pier and the 8 miles of blue-flagged beaches.

    Bournemouth is a hugely popular tourist destination. The Bournemouth Airshow alone attracts over 1 million visitors over the course of an August Bank Holiday weekend. In total, Bournemouth attracts over 6.8m visitors including 1m staying visitors per year and whom are estimated to spend £500m (Statistics from National Coastal Tourism Academy).

    Premises Licence

    The Obscura Café has the benefit of a highly beneficial Premises Licence (ref 084743) permitting the sale of alcohol from 08:00 to 01:00 7 days a week to be consumed either within the property or on the demised outside terrace. We believe that the Premises Licences offers a buyer a very attractive opportunity to expand the existing business if desired.

    EPC

    The property has a D-98 rating.

    Fixtures & Fittings

    All trade fixtures and fittings are included as part of the sale price if required.

    Planning

    We understand the premises benefits from an A3 Use Class (Café and Premises). We understand the property is not listed nor does it lie within a conservation area. The property is within the administrative boundary of Bournemouth Borough Council.

    Rating

    The subject property is listed in the 2017 Rating List with a Rateable Value of £68,000. The National Multiplier for England and Wales for 2019/20 is £0.516.

    Tenure

    Leasehold. The Obscura café is held on a 50 year lease commencing 28 August 1999. There are over 29 years unexpired. The lease is drawn on full repairing and insuring terms. The property has a base rent of £82,646 per annum or, if higher, the rent paid is calculated at 11% of net sales. The lease allows the premises to be used for the sale and consumption of hot and cold food and drink including alcoholic beverages. The takeaway of food and non-alcoholic drinks is also permitted as is the sale of ice cream. The outside areas are subject to a separate Licence to Occupy for a term replicating that of the lease.

    Guide Price

    £1,000,000 for the leasehold interest.

    As an alternative to an outright sale of the lease, our client would consider other forms of agreement in relation to the property.

    Location

    marker
    Location: Obscura Cafe, The Square, Bournemouth, BH2 6ED

    Bournemouth (0.9 miles)

    Branksome (1.8 miles)

    Pokesdown (2.5 miles)

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