West Kensington,London,UK, ID 139838
Restaurant available for sale in West Kensington, London.
PROOF OF FUNDS REQUIRED: All interested purchasers must be able to provide proof of funds prior to requesting a viewing.
MAIN FEATURES: Modern décor with a fully fitted interior, strong passing trade, open-plan kitchen, accommodation arranged over ground floor and basement, with a total area of approximately 1,885 sq. ft.
LEASE DETAILS: Lease expiring February 2037 (inside the LTA 1954 Act). Current rent is £45,000 plus VAT. Rent review period is every five years, with the next review having been due in February 2022. Premium of £139,000 to include goodwill, lease, fixtures, and fittings.
LANDLORD’S REQUIREMENTS: A rent deposit equivalent to three to six months may be required, subject to references. A personal guarantor may be required, subject to references. Bank, trade, and accountant’s references are required, together with evidence of financial standing.
PREMISES: Total area of approximately 1,885 sq. ft, comprising ground floor space of around 852 sq. ft and a basement of approximately 1,033 sq. ft. The premises provide seating for approximately 80 covers across the ground floor, basement, and rear areas. The property benefits from three-phase electricity and a premises licence. Permitted trading hours are from 10:00 am to 11:00 pm. All equipment and facilities are reported to be in good working order. EPC rating is C. Payable business rates are approximately £10,104 per annum, based on a rateable value of £20,250.
THE LOCATION: West Kensington, London. The premises are located very close to West Kensington Underground station, with neighbouring units occupied by a mix of national and independent retailers.
TRADING: Gross sales are reported by the seller to be approximately £416,000 per annum, equating to around £8,000 per week. Staffing details are to be confirmed.
POTENTIAL BUSINESS: There is scope to increase revenues by introducing a café or breakfast service during morning hours.
VIEWINGS & CONFIDENTIALITY: All interested parties must agree to a Non-Disclosure Agreement due to confidentiality requirements set by the client. Viewings are strictly arranged through Restaurant Property Sellers only. Use of the website constitutes acceptance of the stated terms and conditions.
DISCLAIMER: The above information has been provided by the seller and is issued without responsibility on the part of the firm and 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 its employees have authority to make or give any representation or warranty in relation to this property.
