Restaurant Opportunity in Prime Kensington High Street

Key Features

• Beautiful Bar in Situ
• Lease Expiring in 2032
• Premises Licence till 12am
• Close to Kensington High Street Tube Station
• Fully Fitted Open Kitchen with RECO Extraction

Description

The premises are based on the ground floor with a beautiful bar and fully fitted open kitchen with RECO extraction to operate as a high-class style restaurant. The premise can accommodate approx. 67 covers inside and 8 covers outside. Towards the rear of the unit the cold room, freezer, dishwasher area, toilets and staff room can be found.

Available area

The accommodation comprises the following areas:

Location

The premises are located in a prime position on Kensington High Street and benefits from independent to well known operators, such as Yashin Sushi, Bone Daddies, Nando's, Megan's Restaurant and Five Guys to name a few. The nearest tube station is Kensington High Street Station being a 5minute walk.

Tenure

An assignment of the existing lease from 19th August 2022 expiring on 19 June 2032 with stepped rent reviews till June 2027. The lease is drawn inside the security of tenure provisions of the Landlord and Tenant Act 1954.

Passing Rent

The current passing rent is £130,000 per annum exclusive. Rising to £140,000 on 20th June 2025, then £150,000 on 20th June 2026. Thereafter subject to rent review in 20th June 2027.

Planning/Licence

The premises benefit from E class planning use class, along with a premises licence which allows for sale of alcohol with table meals within the following days & hours. Monday to Sunday: 10:00 to 24:00

Premium

Reduced to £150k

VAT

All prices quoted may be subject to VAT if applicable.

Confidentiality

This sale is highly confidential and under no circumstances should be a direct approach be made to staff as they are unaware of an impending sale.

Holding Deposit

A holding deposit will be required to secure the property; the deposit will buy a period of exclusivity and will be held in the CDG Leisure client account.