Turnkey restaurant lease in Haggerston London with 40 covers and low rent available for sale

Description

Please note the premises currently trade as part of an established London restaurant group with additional sites in Bethnal Green, Elephant & Castle and Brixton.The preference is to sell the business as a whole, including the trading brand and all four London sites located at Elephant Park, Bethnal Green, Haggerston and Brixton. However, the owner is open to considering offers for different structures of the business and/or individual sites.The Haggerston premises may therefore be available either as part of a wider business acquisition or individually by way of lease assignment. If acquired on an individual leasehold basis, the trading brand would be excluded and any incoming operator would be required to rebrand and trade under their own concept, subject to landlord consent.SUMMARY* Low passing rent of £24,500 per annum exclusive* Approx. 40 internal covers plus external seating* EBITDA in excess of £90,000 per annum* Full kitchen extract, gas, 3-phase electrics and premises licence* Turnover approaching £800,000 - £1,000,000 per annum with strong delivery trade* Available as part of a wider business acquisition or individually via lease assignment* Staff unaware - strictly confidentialLOCATIONSituated within a highly desirable waterside East London neighbourhood, the premises benefit from strong local and destination footfall alongside a vibrant hospitality scene. The area is particularly popular with young professionals and benefits from excellent transport connectivity via the Overground network.The surrounding area features a strong mix of independent cafés, restaurants, bars and creative businesses, helping generate consistent daytime and evening trade throughout the week.DESCRIPTIONThe premises provide approximately 40 internal covers together with valuable external seating which significantly enhances summer trading performance.Accommodation:* Ground floor approximately 750 sq ftCapacity:* Internal covers: approximately 40* External seating: approximately 20 coversBUSINESSWe are advised that the business generates annual turnover approaching £800,000 per annum and delivers particularly strong profitability relative to occupancy costs, with EBITDA in excess of £90,000 per annum.The business trades seven days per week and benefits from strong repeat local trade together with excellent online reviews and delivery platform ratings.The opportunity is available either:* As an ongoing business sale including goodwill, fixtures and fittings, and existing operations* Or alternatively on a leasehold basis with or without the existing brand, subject to agreementPREMISES LICENCEThe premises licence permits the sale of alcohol from 10am to 11pm throughout the week.LEASEAvailable by way of assignment of the existing lease from July 2025, expiring July 2037.* Passing rent: £24,500 per annum* Tenant-only break clauses: 2030 and 2034* Rent reviews: 2029 and 2033* Lease held outside the Landlord & Tenant Act 1954SERVICE CHARGEApproximately £3,000 per annum.PREMIUMOffers in excess of £100,000 to include fixtures and fittings, lease, licence and goodwill.