The premises are fitted out as a basement cocktail bar with a DJ booth to a good standard. The capacity is approximately 75 persons and has a rare and very valuable SEV licence until 3am from Monday to Saturday. The premises has been trading in Soho for obver 50 years, so therefore has a substantial amount of goodwill attached.
Located in the heart of Soho close to a multitude of retail, restaurant and bar operators, in a very high footfall area. Transport links are excellent with Tottenham Court and Piccadilly Circus tube stations being just a short walk away,
Tenure: An assignment of the two co-terminus leases which expire in approx. 9 years, subject to 5 yearly rent reviews. The leases are both granted inside the security of tenure provisions of the Landlord & Tenant Act 1954.
Rent: £60,000 per annum exclusive.
Planning/Licencing: The premises benefit from Sui Generis use and has a premises licence in place to allow the sale of alcohol without food untl 3am every day of the week except Sunday. There is also a valuable SEV licence with the same terminal hours.
Premium: On Application.
VAT: May be applicaple to the rent and premium.
Key selling points:
Low Passing Rent
Prime Location in Soho
3am Alcohol and SEV licence
First Time on the Market in over 50 years
Inside the Act Lease
