Fully Fitted Gloucester Quays Restaurant With Outdoor Seating For Sale

Gloucester, Gloucestershire, UK

Asking Price:: £100,000 Furniture / Fixtures included

Turnover:: Undisclosed

Net Profit:: Undisclosed

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An attractive opportunity to acquire a fully fitted restaurant within Gloucester Quays, one of the UK's ten largest outlet shopping centres. Offered at a guide price of £100,000 for the leasehold interest and trade contents, the property may appeal to established restaurant groups, experienced hospitality operators and independent restaurateurs seeking a prominent position within a major retail and leisure destination.

The restaurant opened in September 2022 and has been fitted out to an exceptionally high standard. It provides 150 internal covers and a further 28 external covers, with an open-plan dining area, bar and theatre kitchen. Gloucester Quays attracts approximately 5.6 million visitors annually and features around 100 retail stores, a ten-screen cinema, restaurants and extensive parking facilities.

Currently open and trading, the premises offer an incoming operator a modern, fully fitted restaurant environment within an established shopping and leisure destination. With an existing lease running until July 2037 and a tenant break option in 2032, the property presents an appealing opportunity for operators seeking a substantial restaurant in Gloucester.

Prime restaurant location within Gloucester Quays.
Approximately 150 internal covers and 28 external covers.
Fully fitted to a high standard, having opened in September 2022.
Approximately 4,035 sq. ft. of ground-floor accommodation.
Established retail and leisure destination attracting approximately 5.6 million visitors annually.
Lease expiring in July 2037, with a tenant break option in 2032.

Property Information

Property:: Leasehold

Lease Terms:

Leasehold Rent:
The higher of £121,050 per annum or 8% of turnover.

Existing 15-year lease dated 16 September 2022, expiring 31 July 2037. Rent is the higher of £121,050 per annum or 8% of turnover, with five-yearly rent reviews.

The lease is contracted outside the security of tenure provisions of the Landlord and Tenant Act 1954. A tenant break option is available in 2032, subject to six months' notice. Service charge is payable.

The permitted use includes a licensed restaurant, with or without a bar, together with takeaway and delivery sales.

Location:

Situated within Gloucester Quays on St Ann Way, close to Gloucester Docks. The centre features approximately 100 retail stores, a ten-screen Cineworld cinema, 15 restaurants, a Premier Inn hotel and parking for around 1,400 vehicles.

Nearby food and beverage operators include Wagamama, Zizzi, Bill's, PizzaExpress, Nando's, Five Guys, Costa and Brewhouse & Kitchen.

Premises Details:

Modern ground-floor restaurant with an open-plan dining area, bar and theatre kitchen, providing 150 internal covers and 28 external covers.

Additional facilities include accessible and separate customer toilets, staff facilities, an office, plant room, chilled storage, general storage and rear emergency access.

Size in square feet:: Approximately 4,035 sq. ft.

Business Operation

Expansion Potential:: The existing restaurant layout and permitted use for takeaway and delivery sales offer flexibility for an incoming operator to develop a combined dine-in and takeaway offering, subject to the lease provisions and any necessary consents.