Property description

Large restaurant with garden next to Paddington station!-TO LET / LEASE ASSIGNMENT

This is an excellent opportunity to acquire established restaurant moments from Paddington station. The area is occupied by many high street brands such as HSB, Natwest, Café Nero, Barclays and Burger King. The Hilton London Paddington hotel is one of London’s grandest Victorian hotels located one minute from the restaurant. The unit comprises of ground floor seating area, outside seating, garden and large kitchen and toilets in lower ground floor. The unit benefits from alcohol license. We have been advised by our client that the weekly turnover is approximately £8,000 to £10,000.

The Crossrail Paddington Station will be completed by early 2017. The new station when operational will be one of the 'jewels in the crown' of the Crossrail route and will provide greatly improved east/ west transit across the capital, linking Heathrow Airport to the West End, the City of London and Canary Wharf.

Accommodation
Ground floor:
Width/Frontage: 23” approx
Depth: 52“approx
Ground floor size: 1196sqft approx

Garden:
Width/Frontage: 7” approx
Depth: 31“approx
Garden size: 217sqft approx

Kitchen:
Width/Frontage: 22” approx
Depth: 56“approx
Kitchen size: 1232sqft approx

Total accommodation size: 2645sqft approx

Lease Term/Commencement
Our client wishes to assign the lease which has 12 years remaining. Rent reviews every 5 years next in 2 years time.

Rent
£60,000 per annum.

Premium
£170,000 New Premium: £150,000

Legal Fees/Cost
Each party is to bear their own legal cost.

VAT
This property is not elected for VAT.

Rates
We have been advised that the current business rates payable are £22,000 per annum. However, all interested parties are encouraged to make their own enquiries with Borough of Westminster.

Viewings
By prior appointment through sole selling agents Ranson UK LTD.
Email: enquiries@ranson.co.uk
Tel: 0207 538 4057

 

 

   

 
        

Property Features :

• Large restaurant - over 2600sqf
• Ground floor & Basement
• Outside seating & Garden
• Very busy location
• Alcohol license