Restaurant/cafe for sale in Upper Street, London N1

Restaurant & Cafe for Sale in Upper Street, Islington

Main features

Upper Street, Islington
Circa 1,000 Sq. Ft
Extraction in Situ
Open Plan Kitchen
Gas Supply in Place but Currently Not Used
Premises Licence in Place

landlord’s requirements

Personal Guarantor maybe Required (Subject to References)
3-6 Months Rent Deposit Subject to References
Accountant’s references
Trade references

Lease details

Lease Ending : July 2027 (Inside the Act of 1954)
Option of New Lease
Rent: £60,000 pax
Rent Review: Every 5 Years
Next Rent Review: July 2027
Premium: £125,000 (Lease & ff&E) + sav

The premises

Circa 1,000 sq. Ft
Circa 50-60 Covers
Payable Business Rates: Circa £17,714/annum (Rateable Value: £35,500)
75% Rates Rebate for Current Fiscal Year (Retail Relief)
Open Plan Kitchen
Fridge/Cold Room in Place
Extraction in Place
Premises Licence in Place
Permitted Hour : 11am – 11pm (Fri-Sat:11:30pm)

The business

Currently trading five dinners a week.
Scope to open for Lunch and additional dinners.
No delivery service offered.
Gross Revenue: We have been informed that the business generates gross revenue of circa £416,000 per annum (£8,000/week).

The location

Upper Street, Islington, N1
0.4 mile to Highbury & Islington Station
Adjacent to Multiple Retailers
click here to learn more about Upper Street

Reason for sale

Due to other business commitments.

Viewings & confidentiality

All interested buyers must agree Non-Disclosure Agreement with our company due to the “Confidentiality” requested by the client and must have proof of funds to meet the premium and landlord’s requirements.

Strictly through Restaurant Property Sellers only. By using our website, you agree with our Terms & Conditions.

Disclaimer

The above information is provided by the seller and are issued without responsibility on the part of the firm therefore are not to be relied upon as statements of facts. Any intending purchaser must satisfy themselves as to the correctness of each statement. The firm nor any of their employees have any authority to make or give, any representation or warranty whatever in relation to this property.