Sidcup High Street, Sidcup Annual Rental Of £25,000
ESTABLISHED RESTAURANT LEASE FOR SALE RENT £25,000 pa. Premium negotiable £125,000.00. 75 cover exceptional Italian themed high spec restaurant with air conditioning full bar and full commercial grade kitchen.
Harpers & Co are delighted to offer this exceptional and fully specified restaurant with 75 plus covers, full bar and high quality decor throughout.
13 years left on assignment of lease and can be renewed. Contact Harpers & Co for a viewing by appointment only. Call 01322 524425.
Before the tenancy starts (payable to Harpers &Co
Holding Deposit: One (1) week's rent
Deposit: Five (5) weeks' rent
Holding Deposit Payment
It is a condition that once the holding deposit has been paid, it will be deducted from the first month’s rent upon the
moving in day. The move in date must be within 15 days of the holding deposit being paid, unless otherwise agreed.
The holding deposit is not refundable for the following reasons:
• If at any time you decide not to proceed with the application after the holding deposit has been paid.
• Failure to move in within 15 days of the date on this application, unless otherwise agreed.
• Provide us with false, misleading or incorrect information as part of your tenancy application.
• Unsatisfactory credit check(s) or reference(s).
• Failure of any of the checks which the Landlord is required to undertake under the Immigration Act 2014.
However, if the Landlord decides not to offer you a tenancy for reasons unconnected with the above then your deposit will
be refunded within 7 days. Should you be offered and you accept a tenancy with our Landlord, then your holding deposit
will be credited to the first months’ rent due under that tenancy.
Where, for whatever reason, your holding deposit is neither refunded nor credited against any rental liability, you wil l be
provided with written reasons for your holding deposit not being repaid within 7 days.
During the tenancy (payable to the Agent)
Payment of £50 if you want to change the tenancy agreement (once landlord's permission has been obtained).
Payment of interest for the late payment of rent at a rate of 3% above the current Bank of England base rate.
Payment of the cost to replace loss of keys/security devices (unless proven that the replacement cost more)
Payment of any unpaid rent or other reasonable costs associated with your early termination of the tenancy.
During the tenancy (payable to the provider) if permitted and applicable:
Utilities - gas, electricity, water
Communications - telephone and broadband
Installation of cable/satellite
Subscription to cable/satellite supplier
Tenant protection & Client Money Protection (CMP)
Redress Scheme& Tenant protection
Harpers & Co is a member of the Property Ombudsman TPO
Harpers & Co is a member of the Client Money Protection Scheme CMP (0059254)
This large 1100 sq ft (102 sq m) A3 restaurant is located in the heart of busy Sidcup High Street. Enjoying excellent levels of footfall and vehicular passing trade this large and open plan restaurant is also a short walk to Sidcup Mainline Train Station (6 min walk) with fast trains to London Bridge and Charring Cross.
This most attractive restaurant has been recently refurbished to a fantastically high and modern standard. From the front to the rear it is instantly evident that no expense has been spared and that the decor has been carried out with taste and thought. To the front, the shop has a tinted and powdered aluminium sign and shop front which leads into the front lobby. The main seating area is predominantly open plan and is 12.4 m deep x 5m wide with a capacity of 55-60 covers. To the rear half are several well decorated WC's (Separate male and female), an enclosed bar and coffee making area and then on to the kitchen. Located at the rear, the commercial grade kitchen is 6.1 m x 6.1m and has a full stainless steel extraction system, stainless steel prep benches, multiples fridges, large commercial grade convector oven, multiple ring gas hob, Bain Maries, storage units. This unit comes fully stocked with high quality tables of 2 and 4, high quality chairs and wall fittings. Bookings are made through a tablet form EPOS electronic point of sales booking system and speakers are mounted throughout the ceiling to provide background music. The decor is exquisite and done in a way that only the Italians can!! Must see!!
Offered as a lease to assign with a rent of £25,000 pa. The current lease ends in July 2026 with the next rent review in July 2018. The current tenant is seeking a premium of £130,000-00 for his goodwill, fixtures and fittings. The restaurant has healthy and consistent takings and enjoys regular trade from a loyal & growing client client base.
Our inquiries with the VOA suggest a rate-able value of £16,500 with an indicative rates payable of circa £6900 pa. Applicants are encouraged to make their own inquiries to the VOA. Go to www.voa.gov.uk
This property IS not elected for VAT.
Each party to pay their own legal costs in this transaction.
Harpers & Co Special Remarks
A truly excellent and very attractive restaurant. Decorated to a very high but crisp and neutral standard this restaurant could easily be transferred to a differently style of cuisine such as Turkish, Greek, French etc. We encourage early viewings from serious parties through Sole Agents Harpers & Co.
Currently trading as an Italian Restaurant, this large and very well decorated eaterie is attractive and eye catching from the moment you enter. Fully refurbished in the last 3 years, this high quality unit offers 50-60 covers, a bar area and full commercial grade kitchen. The frontage is modern and crisp with tinted windows and an attractive lobby area. The main restaurant is is most attractive and is part of the restaurant is approx 12.4m deep with a width of 5m. This then leads onto several very well specified toilets, an enclosed bar area and then onto a commercial grade kitchen (6.1 x 6.1m). There is a rear access door leading to a communal access path/road.
This unit has a passing rent of £25,000 pa on a fully repairing lease inside the 1954 Landlords and Tenants Act and can be renewed upon expiry in 2026. The next review is July 2018. The restaurant is trading successfully and enjoys good takings each week from a loyal and regular client base. There is also massive scope for improvement. A premium is sought for the good will, fixtures and fittings and the lease of offers in the region of £130,000-00
Each party is to pay their own legal costs in this transaction.
All viewings are strictly by appointment only through Sole Agents Harpers & Co on 01322-524425.
Sidcup DA14 6ED