Property description

We are proud to present this large refurbished and fully fitted A3 Restaurant measuring over 1,600 square feet (approximate) of internal space. This is a popular and established business situated on the South Woodford High Road offering a vast amount of footfall both night and day with numerous other businesses, restaurants, bars, cinema, gym, developments, parks and travel facilities all available within minutes. The nearest underground station is South Woodford and Snaresbrook Station (Central line). The area has a strong reputation for food and dinning experiences which has been built over many years with more and more families and people moving into the area as a result of the open green space and the quick commute to Central London.

The premise consists of fixtures and fittings of high quality, the benefit of CCTV, alarm system, air conditioning and heating, bar area, male, female and disabled WC's, office and fully fitted large kitchen area. The premises can accommodate for 100 covers. The premises benefit's with having bi-folding doors to the shop front with space for four tables outside at the front for customers who would like the option to eat outside on a nice summer day.

This is a lease assignment with 6 years remaining on an Open / Renewable Lease. The current rent for this property is £28,000 per annum and the seller is seeking £130,000 for goodwill.


Accommodation

Shop Floor including WC Rooms: (16.47 x 79.01) = 1301.29 sq. ft.

Kitchen: (21.81 x 15.28) = 333.25 sq. ft.  

TOTAL - 1,634.54 sq. ft. (approx.)


Tenure

Open / Renewable Lease for £28,000 rent per annum.

Our Client wishes to assign the lease with 6 years remaining.


Premium

Our client seeks a premium of £130,000 for goodwill, fixtures and fittings, and location.


Legal fees

Incoming tenant to be responsible for their own and landlord's legal fees. Current tenant responsible for their own legal fees.


Rates

We have been advised that the rates payable is £6,000 per year approximately. However, interested parties are encouraged to make their own enquiries with the local authority. Please note that there are various Business Rate Exemptions for small and new businesses with the Local Authority.

Viewing Arrangement

Please note, this is a confidential sale of the lease. If you would like to arrange a viewing for this property, please call us on 020 7510 0860 or alternatively call our property consultant directly on 074 1586 3800.

Viewings Strictly Through Appointment Only.

Property Features :

• A3 Use
• High Street
• Large Restaurant
• Newly and Fully Refurbished
• Good footfall