Italian Cafe & Restaurant for Sale in Borough High Street
Property ID: RPS-23202
PROOF OF FUNDS REQUIRED: All interested buyers must be able to provide proof of funds before requesting viewing.
MAIN DETAILS
Established Italian Cafe & Restaurant for Sale
Trading since 14 years
Close to Borough station & several offices and hotels around
Circa 32 covers with some outdoor seating
Benefits from gas, extraction and premises licence
Five star hygiene rating
LANDLORD’S REQUIREMENTS
Guarantor required (subject to references)
6 months' rent deposit required (subject to references)
Other usual checks will be carried out
LEASE DETAILS
Lease: Option of 10 years new lease
Will be granted Outside the Act of 1954
Current Rent: £25,000 per annum + VAT
Rent review: Every 5 years
Premium: £199,000 (Business, lease & fixtures and fittings)
THE PREMISES
Circa 32 covers with some outdoor seating
Large separate storage at the rear
Gas, extraction and premises licence in place
Rateable Value: 17,250
Payable Rates: Circa £6,589.5/annum (please confirm with local council)
THE BUSINESS
We have been informed that the business currently generates gross revenue of circa £6,000 to £7,000/week
Our client manages the restaurant with 2 full time & 2 part time staff members
Trading since 14 years
THE LOCATION
Borough High Street, London, SE1
Few minutes from Borough Station
Prime location on Borough High Street, one of London's oldest and most characterful connecting hub
Nearby Borough Market, attracting significant daily tourist and office foot traffic
VIEWINGS & CONFIDENTIALITY
All interested buyers must have proof of funds to meet the premium and landlord’s requirements.
A Non-Disclosure Agreement will be required due to the confidentiality requested by the client.
DISCLAIMER
The above information is provided by the seller and is issued without responsibility on the part of the firm therefore is not to be relied upon as statements of fact. Any intending purchaser must satisfy themselves as to the correctness of each statement. Neither the firm nor any of its employees has any authority to make or give, any representation or warranty whatever in relation to this property.
