ONYXO Real Estate is pleased to present an opportunity to acquire the leasehold interest of a substantial mixed-use hospitality property in London, comprising a 12-bedroom accommodation element together with a 9-unit Foodhall.
PROPERTY OVERVIEW
12-Bedroom Accommodation - 9 Double & 3 Triple Bedrooms
9 Foodhall Units - All Bills Included
Unit 1 – Korean
£2,000 pcm | 2-year contract
Unit 2 – Thai
£2,200 pcm | 1 year remaining
Unit 3 – Pizza
Currently Vacant | Potential £2,200 pcm
Unit 4 – Taco
£2,000 pcm | 2-year contract
Unit 5 – Chinese
Currently Vacant | Potential £2,000 pcm
Unit 6 – Burger
£2,000 pcm | 1 year remaining
Unit 7 – Dessert Parlour
£1,200 pcm | 1 year remaining
Unit 8 – Bar & Coffee
Currently Vacant | Potential £1,500 pcm
Unit 9 – Takeaway
Currently Vacant | Potential £2,000 pcm
INCOME PROFILE
Current Foodhall income: approximately £9,400 pcm
Accommodation income: approximately £12,000 pcm
Current combined gross income : approx. £21,400 pcm / £256,800 pa.
Potential foodhall income at full occupancy: approximately £17,100 pcm
Accommodation income: approximately £12,000 pcm
Potential combined gross income: approximately £29,100 pcm / £349,200 pa.
The opportunity therefore offers a combination of established rental income and further upside from the currently vacant / available units.
LEASE INFORMATION
Lease : 17-years left (Non-Renewable)
Rent : £80,000 p.a.
Business Rates Payable : approx. £40,000 p.a.
Rent Review : 2028, 2033, 2038, 2043 as per open market.
Break Clause : October 2033
Permitted use : Class E
EXPENSES
- Staff Wages : £36,000 p.a. (Hotel)
- Utilities : £36,000 p.a. (Hotel & Foodhall)
- Insurance : £1,500 p.a. (Hotel & Foodhall)
- Repairs & Maintenance : £2,500 p.a. (Hotel & Foodhall)
CONFIDENTIAL SALE PROCESS
Due to the nature of the business and the existing occupiers, full information, financial information, lease documentation and supporting due-diligence material will only be released to suitably qualified and genuinely interested parties.
An NDA (Non-Disclosure Agreement) will be required before sharing the location of the premises.
Interested parties will be required to provide:
Full name / company name
Contact details
Confirmation of purchasing capacity
Brief details of their intended acquisition
Proof of funds / funding position where appropriate
Following satisfactory initial qualification and completion of the NDA, further information can be provided.
IMPORTANT NOTICE
ONYXO Real Estate is acting as agent for the vendor.
All financial figures and income information have been provided for guidance purposes and should be independently verified by prospective purchasers. The lease, planning/use, income, operating costs and other information should be subject to the purchaser's own legal, financial and property due diligence.
Viewings and access to further information are strictly by appointment and subject to qualification.
