South Kensington Restaurant Opportunity

Key Features

• 60+ Covers
• Inside the L&T Act 1954
• Premises Licence till 1am
• Busy Location in South Kensington
• Fully Fitted Restaurant with Extraction

Description

The premises are located in the heart of South Kensington. The unit benefits from a busy vicinity of food and beverage operators such as Prada Chef, Eli’s Restaurant, Mama Pho, Pizzetta, Cocotte and Leon to name a few. The nearest location is South Kensington Underground station, with access to Circle & District and Piccadilly Line.

Available area

The accommodation comprises the following areas:

Location

The premises operate as a pizza restaurant and bar arranged across two floors. The ground floor can accommodate 40 covers and the basement holds a kitchen, storage room, toilets, and restaurant space to hold another 20 covers. The premises benefit from a fully fitted kitchen with extraction.

Tenure

An assignment of an existing lease which expires in 2031, with 4 yearly rent reviews, inside the Landlord and Tenant Act 1954, part 2 amended.

Rent

£42,500 pax.

Premium

Offers in the region of £90,000.

VAT

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

Planning Use/ Premises Licence

The premises benefit from Class E planning use and has a premises licence in place from the following times: 10 am to 1 am from Monday to Saturday, and till 11:30 pm on Sundays.

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.