Crypto currency café put on the market by its owner

A coffee shop in Bury that was set up to take payments in  Bitcoin has been put on the market.

Adam Rizvi, a local cryptocurrency entrepreneur, has asked Bury-headquartered Blacks Business Brokers to find a new owner to take over the lease on Coffee Quarter on Broad Street.

The town centre business, which previously traded for many years as Goldwyn’s, is being marketed with a guide price of £50,000 plus annual rent of £10,000.

It has been thoroughly refurbished by Mr Rizvi and includes all-new kitchen equipment, a brand-new La Spaziale coffee machine worth more than £5,000 and a children’s soft play area kitted out with RoSPA-approved apparatus.

Mr Rizvi acquired, refurbished and launched the business earlier this year, and installed a custom-built point-of-sale system that accepts payment in Bitcoin as well as regular currency.

However, the demands of his other business, the CryptoBatesGroup, are such that he is now reluctantly looking for a new owner to take on Coffee Quarter.

CryptoBatesGroup is currently working on a project to commercialise the rollout of a Bitcoin point-of-sale system across Greater Manchester.

Mr Rizvi also speaks regularly at business events and CrytoBatesGroup is the organiser of CoinFestUK, a Manchester cryptocurrency event that in 2018 attracted more than 400 visitors from around the world.

Lewis Wroe, business operations manager at Blacks Business Brokers, said, “Adam has made a fantastic job of refurbishing the premises and Coffee Quarter is now a beautiful, family friendly venue.

“All of the new equipment is state-of-the art, and owned outright, so a new owner could walk in and open up the next day.

“It’s in one of the best locations in Bury, right in the heart of the business district and a stone’s throw from the Fusiliers Museum, Library and Art Gallery, Millgate Shopping Centre and Bury Interchange.

“What’s more, the Bitcoin element of the business attracted substantial attention during the soft-launch period, with people travelling from around the UK to purchase coffee, cakes and breakfasts using cryptocurrency.

“If they wished to do so a new owner could capitalise on the Bitcoin angle, using social media to drive footfall.

“Primarily, though, it’s a lovely premises, fantastically equipped and in a great location, and should provide a great opportunity for a new owner who wants to be part of Bury’s growing food and drink offering.”