Korean Cafe & Restaurant for sale in Holborn. Confidential Sale.
Property ID: RPS-22575
PROOF OF FUNDS REQUIRED: All interested buyers must be able to provide proof of funds before requesting viewing.
MAIN DETAILS
Ltd Company for Sale
Passing trade throughout the day
Ideal for takeaway or cafe business too
Benefits from extraction & premises licence
No gas but three phase supply in place
Circa 794 sq. ft spread over ground floor level
5 Star food hygiene rating
LANDLORD’S REQUIREMENTS
12 months' rent deposit required (subject to references)
Other usual checks will be carried out
LEASE DETAILS
Lease: Ending August 2034 (Outside the LTA)
Mutual break in 2029
Passing Rent: £45,000+VAT (stepped rent)
Rent review: Every 5 years
Next rent review: August 2029
Premium: £250,000 (Business, Lease & fixtures and fittings)
THE PREMISES
Circa 40 covers with some outside space
Premises licence & extraction in place
No gas but benefits from 3-phase electric supply
5 Star food hygiene rating
Area: circa 794 sq. ft
Rateable value: 50,000
Payable rates: Circa £25,000/annum (without retail discount)
THE BUSINESS
Gross Revenue: We have been informed that the business generates gross revenue of circa £400,000 per annum.
Our client manages the restaurant with 3 full-time (including 1 owner) & 2 part-time staff.
THE LOCATION
Holborn, City of London
Surrounded by several offices
Many hotels & at least 6 higher education institutions within walking distance
Passing trade throughout the day
Adjacent units are occupied by national and independent retailers
VIEWINGS & CONFIDENTIALITY
All interested buyers must have proof of funds to meet the premium and landlord’s requirements.
All interested buyers must agree to a Non-Disclosure Agreement due to the “Confidentiality” requested by the client.
Viewings are strictly by appointment only.
DISCLAIMER
The above information is provided by the seller and are issued without responsibility on the part of the firm therefore are not to be relied upon as statements of facts. Any intending purchaser must satisfy themselves as to the correctness of each statement. The firm nor any of their employees have any authority to make or give, any representation or warranty whatever in relation to this property.
