Restaurant for sale

Borough High Street, London SE1

Italian Cafe & Restaurant for Sale in Borough High Street

Property id: Rps-23202

proof of funds required: All interested buyers must be able to provide proof of funds before requesting viewing.
Main details


Established Italian Cafe & Restaurant for Sale
Trading since 14 years
Close to Borough station & several offices and hotels around
Circa 32 covers with some outdoor seating
Benefits from gas, extraction and premises licence
Five star hygiene rating

landlord’s requirements

Guarantor required (subject to references)
6 month’s rent deposit required (subject to references)
Other usual checks will be carried out
Lease details


Lease: Option of 10 years new lease
Will be granted Outside the Act of 1954
Current Rent: £25,000 per annum + VAT
Rent review: Every 5 years
Premium: £199,000 (Business, lease & fixtures and fittings)
The premises


Circa 32 covers with some outdoor seating
Large separate storage at the rear
Gas, extraction and premises licence in place
Rateable Value: 17,250

Payable Rates: Circa £6,589.5/annum (please confirm with local council)
The business


We have been informed that the business currently generates gross revenue of circa £6,000 to £7,000/week
Our client manages the restaurant with 2 full time & 2 part time staff members
Trading since 14 years
The location


Borough High Street, London, SE1
Few minutes from Borough Station
Prime location on Borough High Street, one of London's oldest and most characterful connecting hub
Nearby Borough Market, attracting significant daily tourist and office foot traffic
Viewings & confidentiality


All interested buyers must have proof of funds to meet the premium and landlord’s requirements.

All interested buyers must agree Non-Disclosure Agreement with our company due to the “Confidentiality” requested by the client.

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.