LOCATION The venue is located in an established eating & drinking location of a major London Suburb.
DESCRIPTION Since being established in the early 1990s, this restaurant has built up a solid trade. It is arranged solely on the ground floor and is laid out to provide approximately 70-75 covers internally and approximately 16 covers on the front terrace, on licence from the council. The approx. GIAs are:
|Ground||1,719 ft² / 178.13 m²|
|Front Terrace||205 ft² / 19.04 m²|
PREMISES LICENCE The premises are licensed for alcohol sales on or off the premises, 7 days a week from 11am to 1.30am.
BUSINESS RATES The current rates payable are approximately £17,500 PA for 2019/20, excluding supplements or any relief.
STAFF In accordance with TUPE (The Transfer of Undertakings Protection of Employment Regulations) all staff will be required to transfer with the business. Full details will be provided to bona fide purchasers that have signed an NDA.
STOCK All wet and dry stock will be purchased at cost and calculated on the day of completion.
TRADE We are advised that net turnover for the year end September 2018 is £993,743 and that the business is on target to improve this in 2019. Further financial information will be made available to bona fide purchasers that have signed an NDA.
TENURE The property is available by way of a new 20 year effective fully repairing and insuring lease, with 4 yearly rent reviews and at a rent of £51,500 per annum.
PRICE Our clients are seeking premium offers in excess of £480,000 subject to contract, for their lease, licence and all fixtures & 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, 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.
THIS IS AN EXTREMELY CONFIDENTIAL SALE AND UNDER NO CIRCUMSTANCES ARE THE UNIT STAFF TO BE APPROACHED
For further information or to view contact: Stephen Bagatti – firstname.lastname@example.org – 07594 097 078