LOCATION The venue is located opposite Borough Market less than a minutes walk from London Bridge Underground Station in an area awash with many chain operators such as Breakfast Club, Costa Coffee, Honest Burger, Leon, Patty & Bun, Pret A Manger, Slug & Lettuce, Starbucks & Wasabi.
DESCRIPTION The demise is arranged as a take away outlet on the ground floor and a restaurant & bar in the basement. They have both have separate access and are linked by an internal staircase and an electric dumb waiter. Please note the premises haven’t been formally measured and prospective purchasers’ are advised to satisfy themselves as to the floor areas. The approximate GIA measurements are:
|Ground||500 ft² / 46.45 m²|
|Basement||1,100 ft² / 102.19 m²|
|Total||1,600 ft² / 148.64 m²|
PREMISES LICENCE We understand basement of the premises is licensed to sell alcohol on or off the premises with a terminal hour of 4 am, 7 days a week. The ground floor is licensed to sell alcohol on or off the premises with a terminal hour of 1 am on Friday to Saturday and midnight for the rest of the week.
BUSINESS RATES The VOA website advises that the current rateable Value is £83,000 which at 49.3 p in the £ gives rise to rates payable of approximately £41,000 for 2018 / 2019, excluding supplements or any relief.
TENURE We are advised that the demise is held on an effective FRI lease expiring 23rd June 2035 at a current rent of £97,000 per annum exclusive with rent reviews in June 2020 and 5 yearly thereafter.
PREMIUM Our clients are seeking premium offers of £500,000 for the benefit of their premises licence, leasehold interest 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.
UNDER NO CIRCUMSTANCES IS ANY APPROACH TO BE MADE TO THE UNIT STAFF AS THEY ARE UNAWARE OF THE IMPENDING SALE.
For further information or to view contact: Stephen Bagatti – firstname.lastname@example.org – 07594 097 078