COFFEE REPUBLIC - about to boil in 2006?

They buy the leaseholds not the freeholds.

The assets are the remainder of the leases I think, and perhaps a few coffee machines and gear.

Yep, they take 10% but 2.5% goes into group marketing so they net 7.5%.

In the header I quote the 10% of what is estimated to be the annual sale of deli's on average = £500K it was suggested then. Yesterday I played it cautious using just the 7.5% net and the sales the old coffee shops average at around £350K pa.

CR