A Restaurant/Cafe Investment Producing £21,945 Per Annum. Potential for Development (Subject to Obtaining all Relevant Consents)

The property comprises a restaurant/cafe (A3/E class use) with full commercial kitchen and restaurant across both basement and ground floor levels measuring over 880 square foot. The property is situated within a mid terrace building arranged over lower ground and three upper floors. Lease allows for change of use to residential under permitted development Class MA.

Tenure

Virtual Freehold. The property is held on a 999 year lease from 2nd February 2020.

Location

The property forms part of a busy parade close to its junction with Tufnell Park Road. Nearby multiples includes Budgens and the Post Office. Transport links are provided by Tufnell Park underground station (Northern line) and Upper Holloway rail station.

Accommodation

Ground Floor Restaurant/Bar (30 covers) Basement Commercial Kitchen WC Total GIA 82 sq m (884 sq ft)

Tenancy

The property is let on an FRI lease for a term of 12 years commencing 22nd June 2015 at a rent of £21,945 per annum. Upward only rent reviews 2021 and 2024.

Current Rent Reserved

Current Rent Reserved £21,945 per annum

VAT

VAT is not applicable

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.