***INGOING PREMIUM OF £60,000***
A rare opportunity to purchase the lease and equipment of this exceptionally well positioned café. The café provides approximately 700 square feet over two storeys and benefits from 3-phase electric, commercial extraction, and is fully fitted to include True Pizza Fridge, coffee machine, dish washer, fridges, freezers and modern POS system. The property is located in a bustling position enjoying very high levels of footfall.
The unit is available on the residue of a 10 year term which commenced July 2021, subject to a current rent of £24,000pa and an ingoing premium of £60,000 for the lease.
A fully fitted café benefiting from a first floor office and prep room, cellar storage, 3-phase power and commercial extraction. The unit has been refurbished by the current tenant and is offered fully equipped with modern commercial appliances. The lease is available for sale for £60,000, subject to the passing rent of £24,000pa.
We are informed that Hot Food Takeaway use will not be considered by the landlord.
The property is located in a bustling position opposite Browns Restaurant with the added advantage of being located next to a pedestrian crossing. Other neighbouring occupiers include, The Body Shop, Pret a Manger and The Botanist.
As a trading business viewings are strictly by appointment with Maggs & Allen.
BUSINESS RATES -
The rateable value with effect from April 2017 is £21,000.
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. The assignment of the lease is subject to landlords approval.
LEASE TERMS -
A 10 year fully repairing and insuring term from 14th July 2021 at a current rent of £24,000pa, subject to a rent review at the 5th year. We understand the lease is protected by The Landlord & Tenant Act 1954 and therefore the tenant benefits from security of tenure.
ASSIGNMENT TERMS -
The lease is available for assignment subject to an ingoing premium of £60,000.
The ingoing tenant will be liable for the landlords legal fees in relation to the assignment.
The ingoing and outgoing tenant will otherwise bear their own respective legal fees.
The prospective tenant will need to provide a £5,000 deposit before the Deed of Assignment is issued, only returnable should the outgoing tenant withdraw or the landlord refuse consent to assign.
Proof of funds and references will be required from the prospective tenant.
The full inventory list is available on request.
ENERGY PERFORMANCE CERTIFICATE -
All figures are quoted exclusive of VAT unless otherwise stated.
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.