retail investment A large city centre mid terraced three storey restaurant/premises and investment opportunity in a busy location. The property is to be sold with a tenant in situ. The tenant is a Chinese Restaurant and the rent passing is £16,000 per annum on a 10 year Fri lease with 5 years unexpired. The property currently has planning for A3 use.
The property has been significantly upgraded by the vendor over the past few years and has a unique full storey glass frontage. The premises includes Open plan ground floor restaurant with trade counters, open kitchen and a further self contained kitchen area and disabled toilet facilities to ground floor.
The ground and first floors have been nicely finished in Oak flooring and the first floor provides further covers and further toilet facilities with shower room. To the rear of the first floor is a further kitchen/prep room and office.
There is a stairwell from ground floor to first floor which also lead to a rear lane for deliveries. There is also access to a 2nd floor bedroom accommodation from the 1st floor restaurant area.
The property is ideally located for the new re-generation of the Kingsway and New Digital centre which is close by. Ideal medium to long term investment opportunity.
Restaurant (55' 7" x 18' 7" or 16.93m x 5.66m)
Glazed frontage to main shop front, trading counter, open kitchen, oak flooring throughout, Oak stair case to 1st floor restaurant seating area, air conditioning. The whole of the restaurant has the potential for 120 covers.
Kitchen (17' 5" x 9' 3" or 5.32m x 2.82m)
The main commercial kitchen is located on the ground floor, there is a second preparation kitchen on the 1st floor. Tiled flooring, door to stairwell and proving access to 1st floor and rear lane.
Fully tiled disabled toilet facilities and separate male/female use toilet facilities.
Seating Area (49' 9" x 18' 5" or 15.17m x 5.61m)
The first floor is accessed from the main ground floor restaurant and has a beautiful Oak stair case leading to the first floor seating area includes Glazed frontage over looking road side. The area is nicely finished in Oak flooring and also benefits from air conditioning. Storage cupboard and access to upper floor accommodation.
Fully tiled Toilet Facilities and shower room.
Kitchen Area (12' 5" x 11' 8" or 3.78m x 3.56m)
A further kitchen or food preparation room is access from the 1st floor seated area with stairwell down to ground floor.
Office (11' 4" x 9' 3" or 3.45m x 2.83m)
Bedroom (17' 7" x 11' 3" or 5.36m x 3.43m)
Our client has notified us that there is three phase electrical installation.
The gas system has a fully integrated Gas Safe cut off switch.
The is a large stainless steel fully integrated extractor fan system.
The property benefits from a fully installed CCTV system.
We have been informed by our client that the 1st floor has been significantly strengthened for possible alternative future uses.
We have been notified by our client that the current tenant has a fully insured and repairing lease, therefore the tenant is responsible for internal and external repairs as well as insurance.
The current tenant has 7 years left unexpired of a 10 year lease with a rent review in 2 years time. This should be verified.