Islington, London, ID 212333
PROOF OF FUNDS REQUIRED: All interested buyers must be able to provide proof of funds before requesting a viewing. MAIN DETAILS Premium opportunity to acquire a newly granted FRI lease Situated in a prime, high-footfall location on Upper Street, Islington Bustling area with exceptionally strong passing trade Surrounded by established operators including Nando’s, Sainsbury’s, and Caffè Nero Circa 994 sq. ft (spread over ground floor and basement) Highly versatile space, suitable for cafés, alternative cuisines, or existing operations Benefits from gas, extraction, three-phase power, and premises licence Well-appointed restaurant comfortably accommodating circa 38 covers LANDLORD’S REQUIREMENTS Guarantor required (subject to references) 6 months’ rent deposit required (subject to references) Standard commercial background and financial checks will be carried out LEASE DETAILS Grant of a new lease (exact terms to be mutually agreed) Rent: £58,800 per annum exclusive Rent review: Every 4 years Premium: £99,000 (includes business goodwill, lease, and fixtures and fittings) THE PREMISES Total Size: Circa 994 sq. ft. spread over ground floor and basement Seating Capacity: Circa 22 covers on the ground floor and 16 covers in the basement Fully equipped with commercial gas, high-capacity extraction, three-phase electricity, and premises licence Rateable Value: 49,000 Payable Rates: Circa £18,718 per annum (interested parties are advised to verify with the local council) THE BUSINESS Financials: Generates a steady gross revenue of circa £360,000 per annum (£7,000 per week) on highly condensed hours High Growth Potential: Currently operating only 5 days a week (lunch on weekends only) due to the owner’s lifestyle choice. Significant scope to increase turnover by extending trading hours Proven Track Record: Previously achieved annual turnover of circa £700,000 when operating full-time (7 days, lunch and dinner), demonstrating strong demand for the location Management: Efficiently run by the owner (chef) with 5 full-time and 1 part-time staff members THE LOCATION Coveted Upper Street address in the heart of Islington, N1 Strategically located just a few minutes’ walk from Angel Station VIEWINGS & CONFIDENTIALITY All interested buyers must have proof of funds to meet the premium and landlord’s requirements All interested buyers must agree to a Non-Disclosure Agreement with the agent due to confidentiality requirements Strictly through Restaurant Property Sellers only. By using the website, users agree to Terms and Conditions DISCLAIMER The above information is provided by the seller and is issued without responsibility on the part of the firm and is not to be relied upon as statements of fact. Any intending purchaser must satisfy themselves as to the correctness of each statement. The firm and its employees have no authority to make or give any representation or warranty in relation to this property.
