Freehold guide price £485,000 + VAT- Business unaffected.
The premises are let to an Italian restaurant that has been in occupation for some years.
The property is generally well presented with dining areas on both ground and first floors. There is an outside covered seating area providing the restaurant with additional covers and an area of rear yard- due to a title irregularity our client has applied to the Land Registry for adverse possession on these external areas, which should be resolved imminently. The kitchen is located on the ground floor, along with a preparation area and store, whilst male and female toilets are on the first floor.
The property is let on a 15 year lease, drafted outside the Landlord & Tenant Act 1954 and commencing 17th January 2015. The current rent is £26,000 + VAT p.a. There is a Rent Review on 16th January 2025 - no notices have been served by our client yet. The tenant id Da Vito Restaurant Limited and there is a Director's Guarantee.
Bridge Street is a very popular dining location, being close to the High Street and the River Thames.
Please view strictly by appointment only and do not disturb the tenant.
Location
Busy and charming street close to the High Street and within close proximity to the river. Close to a good mix of other restaurants, cafe's, and retailers including Aldi and Marks & Spencer.
Accommodation
Total (internal) area of approximately 1,186 sq ft.
Terms
Tenure: Freehold
Price/premium: £485,000
Rent details: £26,000 p.a. + VAT.
Legal fees: Each party to bear their own
Rateable value: The VOA website states a rateable value of £11,750, payable and the prevailing rate.
Lease details: Let on a 15 year lease from 17/1/2015, drafted outside the Landlord & Tenant Act 1954.
Specification
- Close to many multiples
- Densely populated area
- Early viewing recommended
- Excellent trading location
- Freehold
- Fully let investment
- Public car park nearby
- Town centre location
- VAT payable
- Viewings by appointment only