Holborn,London,UK, ID 139737
Korean café and restaurant available for sale in Holborn. Confidential sale. Property ID: RPS-22575. Proof of funds required: all interested buyers must be able to provide proof of funds prior to requesting a viewing.
Main details: the sale relates to a limited company. The business benefits from passing trade throughout the day and is suitable for takeaway or café use. Extraction and a premises licence are in place. There is no gas supply, however three-phase electricity is available. The premises extend to approximately 794 sq ft arranged over the ground floor only and hold a five-star food hygiene rating.
Landlord’s requirements include a 12-month rent deposit subject to references, together with the completion of other standard checks.
Lease details: the lease expires in August 2034 and is outside the Landlord and Tenant Act. A mutual break option is available in 2029. The passing rent is £45,000 plus VAT per annum on a stepped basis. Rent reviews are every five years, with the next review due in August 2029. The premium is £250,000 for the business lease together with fixtures and fittings.
The premises provide approximately 40 covers, with some external seating. A premises licence and extraction system are in place. There is no gas supply, however the property benefits from three-phase electricity. The business holds a five-star food hygiene rating. The total area is circa 794 sq ft. The rateable value is £50,000, with payable rates of approximately £25,000 per annum without retail discount.
The business is reported to generate gross revenue of approximately £400,000 per annum. The restaurant is managed by the owner with three full-time staff, including one owner, and two part-time staff.
The location is Holborn, City of London, surrounded by numerous offices. There are many hotels and at least six higher education institutions within walking distance. The area benefits from passing trade throughout the day, with neighbouring units occupied by a mix of national and independent retailers.
Viewings and confidentiality: all interested buyers must provide proof of funds sufficient to meet the premium and the landlord’s requirements. All parties must agree to a Non-Disclosure Agreement with the company due to confidentiality requested by the client. Viewings are strictly through Restaurant Property Sellers only. Use of the website constitutes agreement with the Terms and Conditions.
Disclaimer: the above information is provided by the seller and is issued without responsibility on the part of the firm and therefore should not be relied upon as statements of fact. Any intending purchaser must satisfy themselves as to the accuracy of each statement. Neither the firm nor any of their employees has authority to make or give any representation or warranty in relation to this property.
