Restaurant/cafe for sale in 1362 Leeds Road, Bradford BD3

Situation

The premises occupy a prominent location on Leeds Road (A647) forming part of Bradford’s prime “Curry Mile”.

Leeds Road is particularly favoured by restaurants / food outlets, high quality clothing boutiques and niche retailers.

Long established occupiers in the immediate vicinity include Shandaar, Rehman Designer Wear, Akbars (Café) and Bab Tooma Persian Restaurant.

Property/accommodation

The property comprises a substantial stone built flagship restaurant of 2 storey construction and extended to create a feature full width glazed elevation and first floor dining terrace.

The premises are arranged to provide an upmarket ground floor dining area with feature conservatory and fully fitted catering kitchen. The first floor comprises a dessert parlour with bi-folding doors opening onto a private terrace/ Sheesha lounge .

The premises provide the following approximate floor areas.

Ground floor
Entrance lobby, seating area, conservatory, preparation kitchen and disabled WC. 270.5 sq m 2,912 (sq ft)

Basement
Store / wash area 11.8 sq m 127 sq ft
Walk-in fridge and freezer - -

First floor
Additional dining area / dessert parlour with private terrace Sheesha lounge, male / female WCs, office, store and staff facilities. 268.9 sq m 2,895 sq ft

Lease

The entire premises have been let by way of a full repairing and insuring Lease for a term of 15 years, having commenced in September 2014 (expiring September 2029). The Lease incorporates 5 yearly rent reviews (last reviewed in September 2019). The current rent received is £78,000 pax.

Sale price

£1.1M – Subject to Lease, VAT (at the standard rate) and the existing Lease.

A purchase at this level shows the purchaser an investment yield of approx. 7%

Legal costs

Each party to be responsible for their own legal costs in this transaction.

VAT

We are advised that the sale will be subject to VAT applied at the standard rate, although it is envisaged that the transaction may be treated as a togc (subject to appropriate advice).

Energy performance certificate

An Energy Performance Certificate has been commissioned.