Long Established Fitzrovia Restaurant with Large Outside Seating Area

Key Features

• Excellent Opportunity
• 32 External Covers
• Full Extraction and Open Kitchen in Situ
• 60+ Internal Covers
• Alcohol Licence until 11pm

Description

The premises are fitted out as a Greek restaurant with an open kitchen on the ground floor alongside 22 internal covers and 32 external covers (by way of a pavement licence). There are a further 40 covers in the basement as well as customer toilets and storage/prep areas. The restaurant was refurbished in 2021 bringing the open kitchen with full extract to the ground floor.

Available area

The accommodation comprises the following areas:

Location

The premises are situated on the Northern end of Cleveland Street, in Fitzrovia, close to both Tottenham Court Road and Great Portland Street. The area is busy every day with students, affluent residents and office workers. Nearby operators include Fitzroy Wine Cellar, Caravan, Efes, Honey & Smoke and Fish Bone to name a few of the many restaurants, bars and cafés in the immediate area.

Tenure

An assignment of the existing 20 year lease expiring in March 2041, subject to 5 yearly rent reviews.

Passing Rent

£60,000 per annum exclusive.

Premium

Offers in the region of £95,000 to include all fixtures and fittings as seen, to be confirmed.

VAT

VAT may be applicable to the rent and premium figures quoted.

Planning/Licence

The premises benefit from Class E planning use and a premises licence allowing the sale of alcohol until 11pm daily with standard restaurant conditions.

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.