*** LEASE FOR SALE ***
An outstanding opportunity to acquire a fully fitted and extended mid-terrace restaurant, offering approximately 1,500 ft² in one of Bristol’s most sought-after trading locations.
Strategically positioned on Gloucester Road, opposite The Promenade, this property benefits from exceptional footfall in a vibrant and eclectic commercial hub renowned for its independent retailers, lively café culture, and strong community atmosphere.
The lease is available for sale to include a full inventory and commercial kitchen, subject to an ingoing premium of £100,000. The lease was granted for a term of 10 years in 2023 at a passing rent of £18,000pa and we understand the tenant benefits from Security of Tenure.
DESCRIPTION -
An outstanding opportunity to acquire a fully fitted and extended mid-terrace restaurant, offering approximately 1,500 ft² in one of Bristol’s most sought-after trading locations. The lease is available for sale to include a full inventory and commercial kitchen, subject to an ingoing premium of £100,000. The lease was granted for a term of 10 years in 2023 at a passing rent of £18,000pa and we understand the tenant benefits from Security of Tenure.
LOCATION -
The restaurant is located in a highly desirable trading position on Gloucester Road opposite The Promenade. Neighbouring occupiers include Costa Coffee, Kal Dosa and the Blue Lagoon.
BUSINESS RATES -
The rateable value with effect from April 2023 is £17,250.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating: B.
LEASE DETAILS -
The restaurant is available for sale on an assignment of the current lease which is drawn for a term of 10 years term from 2023 at a passing rent of £18,000pa. We understand the tenant benefits from Security of Tenure. Each party to incur their own respective legal fees, although the landlords legal fees are to be split on a 50/50 basis between the ingoing and outgoing tenant.
TENANT APPLICATION FEE -
The ingoing tenant will be charged an application fee of £300 plus VAT (£360 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.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
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.
VAT -
All figures quoted are exclusive of VAT unless otherwise stated.
VIEWINGS -
By appointment.
