An exceptional opportunity to purchase the lease of Paco’s Tapas at The General, a beloved and fully operational Spanish tapas bar/restaurant of approx. 2,504 ft², located in the heart of a vibrant heritage precinct. This turnkey business is offered with a full inventory of high-quality fixtures, fittings, and equipment, including a fully equipped commercial kitchen, stylish bar, and charming indoor dining area. The space is licensed, beautifully presented, and ready for immediate trade, making it ideal for an owner-operator or hospitality group looking to establish themselves in a thriving location.
The premises is available to let on an assignment, or a new lease, at a rent of £43,646pa, subject to an ingoing premium of £100,000.
DESCRIPTION -
An exceptional opportunity to purchase the lease of Paco’s Tapas at The General, a beloved and fully operational Spanish tapas bar located in the heart of a vibrant heritage precinct. This turnkey business is offered with a full inventory of high-quality fixtures, fittings, and equipment, including a fully equipped commercial kitchen, stylish bar, and charming indoor dining area. The space is licensed, beautifully presented, and ready for immediate trade, making it ideal for an owner-operator or hospitality group looking to establish themselves in a thriving location.
PREMIUM -
A premium of £100,000 is sought for the assignment of the lease to include a comprehensive inventory.
ACCOMODATION -
The unit provides approximately 2,504 ft² (232.6 m²) and is arranged as a restaurant with extensive cooking facilities, and further benefits from a large outside terrace.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating:
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. Each party to incur their own respective legal fees.
LEASE DETAILS -
The current lease is available for assignment, but the landlord has also indicated that they would consider a new lease (on an effectively fully repairing and insuring basis).
PREMISE LICENSE -
The premises is licensed for the sale of alcohol between Sunday to Wednesday 12:00-00:00 and Thursday to Saturday 12.00-01:00.
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.
BUSINESS RATES -
The Rateable Value with effect from April 2023 is £43,000, although we understand the current rates payable to be £10,802.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
VIEWINGS -
By appointment.
VAT -
All figures quoted are exclusive of VAT unless otherwise stated.
