Whole Building (May Split) Restaurant/Bar with Accommodation

Key Features

• Exceptional Fitout
• Inside the Act Lease
• Midnight Alcohol Licence
• 130+ Cover Restaurant/Bar
• Close to Bath Spa Train Station
• 4 Bedroom Flat Generating Substantial Short Let Income

Description

The restaurant/bar is fitted to a high standard, arranged over the basement, ground and first floor with 90 covers on the ground floor plus outside seating for 12. There are 40 covers on the first floor with the kitchen in the basement. The upper levels comprise a very well appointed 4 bedroom flat, which can be retained by the seller.

Available area

The accommodation comprises the following areas:

Location

The premises are prominently located on George Street on the main F&B circuit in Bath, close to a host of independent restaurants and bars including Scallop Shell, The Bath Distillery and Beckford Bottle Shop, alongside national brands such as Slug & Lettuce, Cote, Ivy, Revolution, Wagamama and The Botanist to name a few.

Tenure

An assignment of the existing 15- year lease, expiring in June 2036, subject to 5 yearly rent reviews. The lease is drawn inside the L&T Act 1954.

Passing Rent

£75,000 per annum exclusive. The top two floors generate an annual income of approximately £50,000 through short term and city break lettings.

Premium

Offers in the region of £200,000 for the whole building leasehold interest.

VAT

VAT may be applicable to the rent, premium and other outgoings.

Planning Use/ Premises Licence

The premises benefit from an E class planning use and a premises license that allows for the sale of alcohol with standard restaurant conditions, until midnight on Fridays and Saturdays, and until 23:00 from Sunday to Thursday.

Holding Deposit

A holding deposit will be required to secure the property and will grant a period of exclusivity which will be held in the CDG Leisure client account until completion.

Confidentiality

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