100 Cover Pub and Restaurant for Sale in Wembley, Approx 4000 sq.ft near Wembley Stadium

Description

Pub and Restaurant near Wembley Stadium

Business type: pub and restaurant

Location: Wembley, HA9

Position: a few minutes from Wembley Stadium

Trading Position

Wembley event-day allocation: regular

Nearby station: Wembley Stadium station

Event-day trade: established

Premises

Approximate internal area: 4,000 sq ft

Number of floors: one

Customer seating: approximately 100 covers

Trading areas:

• Fully fitted bar
• Restaurant

Kitchen and Utilities

• Large commercial kitchen
• Gas supply
• Extraction system
• Three-phase electricity
• Fitted cold room
• Walk-in freezer

Food Hygiene

Food hygiene rating: 5

Trading Performance

Reported weekly turnover: £20,000 to £22,000

Reported annual turnover: approximately £1,144,000

Annual figure basis: £22,000 per week

Lease Terms

Lease expiry: October 2032

Landlord and Tenant Act 1954 status: inside the Act

Annual rent: £58,000 plus VAT

Rent review frequency: every three years

Premium and Sale Contents

Premium: £449,000

The premium includes:

• Current business
• Leasehold interest
• Fixtures
• Fittings

Business Rates

Rateable value: £70,000

Estimated annual rates payable: approximately £30,100

Rates confirmation:

• Current liability
• Available relief

Contact: local authority

Landlord Requirements

Subject to references, the landlord may require:

• Guarantor
• Rent deposit equal to six months’ rent
• Standard financial checks
• Background checks

Proof of Funds

Proof of funds: required before viewing

Proof of funds must cover:

• £449,000 premium
• Six-month rent deposit
• Other landlord requirements