Opportunity to acquire restaurant and cafe adjoining Whole Foods situated in the heart of Camden Town. Lease for sale.
Location
The property is situated in a prominent position in this highly sought after location within the heart of Camden Town, situated adjacent to Whole Foods and close to many well-known traders and restaurants including Gail’s, Cote, Pizza Express, Marsala Zone and Strada. Camden Town Underground Station (Northern Line) is within walking distance and numerous bus routes serve the area.
Accommodation
Comprising 2 inter-communicating units having a combined gross frontage of 30’3” and affording the following approximate dimensions and floor areas:
45 Parkway
Gross frontage - 14’6”
Ground floor area - 400 sq ft
Basement - 300 sq ft
1st floor seating area - 230 sq ft
2nd floor bedroom, bathroom and office - 165 sq ft
This is trading as a café / takeaway and the basement has a fully equipped preparation area.
47 Parkway
Gross frontage - 15’9”
Shop & built depth - 69’0”
Ground floor area - 1,395 sq ft (inc covered yard / smoking area)
Basement - 510 sq ft
This is trading as a restaurant and function room with a fully equipped preparation and kitchen area in the basement served as a dumbwaiter.
Terms
LEASE(S)
45 Parkway: Held on a full repairing and insuring lease for a term of 20 years from February 2005 subject to upward only rent reviews at 5 yearly intervals.
47 Parkway: Held on a full repairing and insuring lease for a term of 10 years from January 2017 subject to upward only rent review at the 5th year.
RENT
45 Parkway: £34,000 per annum exclusive
47 Parkway £60,000 per annum exclusive
PREMIUM
£80,000 for the benefit of the unexpired leasehold interests, equipment and fixtures and fittings.
EPC - D
RATES
Obtained from the www.voa.gov.uk website the rateable value is £69,000 and the rates payable for 2018/2019 are £34,017 per annum. This does not allow for any transitional relief that may apply. Interested parties should confirm annual rates payable with the Local Rating Authority.
LEGAL COSTS
Each party to be responsible for their own legal costs incurred.