LOCATION The property is located in Crystal Palace town centre, which is a local hub for shopping, eating and drinking with occupiers such as Antic’s Westow House, Caffe Nero, Costa, Everyman Cinema, Joanna’s and The Crystal Palace Market. Crystal Palace Station is approximately 500 metres away and provides Southern Services with fastest journey times of 22 minutes to London Bridge and 29 minutes London Victoria plus London Overground services to Highbury & Islington, via Canada Water & Whitechapel.
DESCRIPTION The property is fully fitted as a restaurant & bar, with excellent frontage and it has built up a strong following, especially for private functions. The ground floor houses the restaurant with seating for around 70 covers, a service bar, cellar and disabled WC whilst the in the basement is the bar, the toilets, commercial kitchen, cold room, office, stores and access to the rear courtyard. The approximate gross internal floor areas are:
|Ground||1,472 sq ft / 136.75 sq m|
|Lower Ground||1,478 sq ft / 137.31 sq m|
|Total||2,950 sq ft / 274.06 sq m|
|LG Courtyard||429 sq ft / 39.86 sq m|
PREMISES LICENCE The London Borough of Lambeth advises that the property benefits from a premises licence that allows the sale of alcohol on the premises with a terminal hour of midnight Sunday to Thursday and 1am on Saturday and Sunday.
BUSINESS RATES The VOA website advises that the current rateable Value is £36,750 which at 49.3 p in the £ gives rises to rates payable of approximately £18,250, excluding supplements, for 2018 / 19. This business qualifies for the third off rates relief as outlined in the November 2018 budget. Applicants are advised to make their own enquiries in this regard.
TENURE We are advised that the demise is held on an effective FRI lease for a term of 25 years from May 2008, expiring 2033 and at a current rent of £42,000 pa.
PRICE Our clients are seeking premium offers of £135,000, subject to contract, for their lease, premises licence and trade fixtures and fittings.
HOLDING DEPOSIT A holding deposit will be required to secure the property; the deposit will buy a period of exclusivity and will be held in the Selsian client account. Further details upon application.
PLEASE NOTE All figures quoted are exclusive of VAT which could be chargeable on the rent, rent deposit and premium / price, no services or equipment have been tested, no trade is sold or warranted, an EPC is available upon request, possession will be granted only upon completion of the legal formalities and each party is to bear their own legal costs.
For further information or to view contact: Stephen Bagatti – email@example.com – 07594 097 078