***FULLY FITTED RESTAURANT IN GREAT LOCATION*** Rare opportunity to acquire a fully fitted and very well presented restaurant of approximately 1,127 sqft located in a great position on Cheltenham Road. Arranged as ground floor dining area with kitchen and toilets to the rear, in addition there is a rear garden and first floor providing ample storage. Offered to let on an assignment of an existing 10 year lease from August 2014, subject to an ingoing premium of £40,000. Early enquiries recommended.
Fully furnished pizzeria of approximately 1,127 sqft finished to a very high standard currently trading as Flour & Ash. The property comprises a ground floor dining/serving area with adjoining kitchen, toilet facilities and rear garden. The first floor provides ample storage, staff area and prep space.
Situated in a prime position on Cheltenham Road, a stones throw from the Arches and within close proximity to Gloucester Road and Stokes Croft the property benefits from high levels of footfall and passing traffic throughout the day and evening. Nearby notable occupiers include The Coconut Tree, Turtle Bay and The Bootlegger.
LEASE DETAILS -
Available to let on the remainder of the current tenant's existing lease, we understand there are approximately 4 years remaining with a tenant only break clause and rent review in August 2022. The lease is currently excluded from sections 24-28 of the Landlord and Tenant act 1954.
Each party to incur their own legal costs with the landlord's costs split 50/50 between the assignor and assignee.
An ingoing premium of £40,000 is sort to include a full inventory (a copy of which is available on request).
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
ENERGY PERFORMANCE CERTIFICATE -
Rating: D (Expires August 2022).
BUSINESS RATES -
The rateable value effective from April 2017 as per the VOA website is £6,000.
We would expect those eligible for small business relief to benefit for 100% exemption at this time. However we advise all interested parties confirm this with the local authority.
As an actively trading business viewings are strictly by appointment with Maggs and Allen.
We understand that VAT is not applicable to the rent but is payable on the ingoing premium.
TENANT APPLICATION FEE -
The ingoing tenant will be charged an application fee of £250 plus VAT (£300 inc VAT) towards the costs incurred in undertaking appropriate credit and reference checks. Accounts will be requested where available and a deposit and/or personal guarantee may be required.
CONTROL OF ASBESTOS REGULATIONS -
As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for asbestos and therefore recommend all interested parties to make their own enquiries.
CODE FOR LEASING BUSINESS PREMISES -
We advise all interested parties to refer to the RICS Code for Leasing Business Premises, link available via our website.
Maggs & Allen use all reasonable endeavours to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.