A well presented and fully fitted cafe/restaurant of approximately 725 sq ft located on Wells Road, Knowle. The premises is arranged as front customer dining area with bar and toilet facilities, rear kitchen, preparation area and storage space. Benefits include full commercial extraction and front terrace for outdoor dining. This property presents a fantastic opportunity for anyone looking to take over a well-established pizzeria or to introduce a new culinary concept to the area. Offered to let by way of a lease assignment of the existing 10 year lease from April 2022, subject to an ingoing premium of £95,000.
DESCRIPTION -
A well presented and fully fitted café/restaurant of approximately 725 sq ft currently operating as a pizzeria. The premises is arranged as front customer dining area with bar and toilet facilities, rear kitchen, preparation area and storage space. Benefits include full commercial extraction and front terrace for outdoor dining. This property presents a fantastic opportunity for anyone looking to take over a well established pizzeria or to introduce a new culinary concept to the area.
LOCATION -
Situated in a highly visible and prime spot on Wells Road in Knowle, the property benefits from a steady flow of passing traffic, both day and night.
LEASE DETAILS -
The property is offered to let by way of a lease assignment of a 10 year lease from April 2022. at a passing rent of £16,230pa and is subject to 3 yearly rent reviews. We understand the lease is granted within sections 24 - 28 of the landlord and tenant act 1954.
Each party to incur their own respective legal fees with the landlord's legal fees split 50/50 between the ingoing and outgoing tenant.
PREMIUM -
Please note an ingoing premium of £75,000 is sought to include fixtures and fittings.
BUSINESS RATES -
The rateable value with effect from April 2023 is £11,250. We therefore would expect those eligible for small business relief to benefit from 100% exemption at this time. However, we advise all interested parties to confirm directly with the local authority.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating: TBC
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
VAT -
All figures quoted are exclusive of VAT unless otherwise stated.
VIEWINGS -
By appointment with Maggs & Allen.
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.
