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London Properties Are Pleased To Offer To The Market This Well Established Restaurant In 1987 Serving High Quality Authentic Spanish Cuisine To The Local Population For Over 27 Years for Sale

North London, London

Leasehold : £ 120,000
Turnover : £ 6,500 p.w.

London Properties are pleased to offer to the market this well established restaurant in 1987 serving high quality authentic Spanish cuisine to the local population for over 27 years. The restaurant benefits 70 covers, air conditioning system, licensed bar area, ladies WC & separate staff WC, fully fitted kitchen with prep area, cold room, exterior storage area & rear access for deliveries. Internal viewings are highly recommended through London Properties by appointment.

LOCATION: The property is located on a parade of shops on Holloway Road in the London Borough of Islington. Holloway Road is one of the busiest shopping streets in North London with plenty of retail, restaurants, cafés and bars along it. The premises are situated opposite the Nags Head Shopping Centre and are a 10 minute walk away from London Metropolitan University, The Emirates Stadium and Holloway Road Tube Station. Nearby occupiers include; Hollywood’s Café Bistro, Big Red, Ekko, Azuma, La Tarte Parisienne and many more

DESCRIPTION: An opportunity to acquire this business established in restaurant 1987 serving high quality authentic Spanish cuisine to the local population for over 27 years. The restaurant benefits 70 covers, air conditioning system, licensed bar area, ladies WC & separate staff WC, fully fitted kitchen with prep area, cold room, exterior storage area & rear access for deliveries

USES: A3 with alcohol licence

PREMIUM: £120,000 for the benefit of the lease, fixtures & fittings.

RENTAL: £24,000 per annum

TERMS: The premises are available by way of an assignment of the existing full repairing and insuring lease, expiring in 14 years, held within the Landlord and Tenant Act 1954. The next rent review is in, December 2019.

BUSINESS RATES: We have been verbally informed by the local authority 2010-2017 Rateable Value £16,250 & Rates Payable is £7,832. All parties are advised to confirm the above with the Islington Council.

SIZE: Approximately 1000 sq ft

OPENING HOURS: Monday - Saturday 12pm - 11pm - Sunday 12pm - 10pm

STAFF: Husband & Wife with 4 staff

TURNOVER: Current turnover in excess of £390,000 per annum

ACCOUNTS: Available on request

LEGAL COST: Each party to bear their own legal costs incurred in this transaction.

LOCAL AUTHORITY: Islington

REFERNCE CHARGE: London Properties charges a fee of £200 plus VAT for taking up references for proposed tenants. This fee is non refundable after the references have been taken up, whether they are accepted or not by the Landlord.

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 London Properties client account

FIXTURE & FITTINGS: Any fixtures, fittings, equipment, machinery and plants which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition.

AGENT NOTE: London Properties for themselves for Lessors, Vendors and their agents, give notice that:-

1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries.

2. These details do not constitute any part of an offer or contract.

3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties.

4. All rent prices, fees and charges are quoted exclusive of VAT


VIEWINGS: Through London Properties by appointment only


Trading Hours: Monday - Saturday 12pm - 11pm - Sunday 12pm - 10pm
 
Staffing: Husband & Wife with 4 staff
 
Accommodation: no
 
Tenure: The premises are available by way of an assignment of the existing full repairing and insuring lease, expiring in 14 years, held within the Landlord and Tenant Act 1954. The next rent review is in, December 2019.
 
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55 Advert ID 48317    Sellers Ref : N7 0RN/BSOL

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