Restaurant/cafe to let in Portland Street, Manchester M1

£24,000 pa (£17.61/sq. ft. pa)
Restaurant/cafe to let 1,363 sq. ft*
Interested in this property? Call +44 161 506 9966 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property description

Location


The property is situated in a prime position along the very busy and popular area of Portland Street in Manchester City Centre, close to ‘China Town’ to the rear, and surrounded by numerous hotels, bars, shops, offices and other places of work.


Description


The property is a multi-storey character building of brick construction under a pitched slate roof. The subject of this letting is the restaurant unit to the lower ground floor t/a ‘New Yorker – American Street Food’, which is accessed via a street level entrance leading and stairs down to the premises.

The restaurant was fully refurbished ‘back to brick’ in 2015/16 at a cost of circa £300,000 by the present occupiers and provides a contemporary and vibrant restaurant space with seating for approx. 75, serving counter, good sized kitchen with washing area and walk in fridge, customer toilets, storage room, and a fire exit corridor leading up to a yard and bin area.


Alcohol licence


We understand that this property has a premises Licence granted by the relevant local authorities. It is a requirement of the licensing Act 2003 that properties serving alcohol have a designated premises supervisor who must be the holder of a personal licence. Prospective purchasers are advised to take appropriate specialist advice.


Accommodation


As measured on a net internal basis (nia) in accordance with the RICS Property Measurement 1st Edition: -

Sq Ft Sq M
Counter Area 376 35
Dining Area 568 53
Kitchen 314 29
Storage Room 42 4
Customer W/c’s 63 6
total 1,363 127


Terms


The premises are available by way of an assignment of the existing 25 year effective Fri lease from 18th December 2015. The lease is subject to 5 yearly rent reviews and a tenant only break option on 17th December 2022.


Premium


The outgoing tenant is seeking offers over £100,000 for this ‘turn-key’ opportunity with the majority of fixtures and fittings to remain. An inventory can be provided on request to potential purchasers.


Rent


£24,000 per annum


Service charge


The current contribution from this unit is £2,000 per annum


Business rates


Rateable Value (2017 List) - £22,500
Rates Payable are believed to be in the region of £11,230 based on a rate of 49.9p/£ (2020/21)


EPC rating


E (119)


Legal costs


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


VAT


We understand that VAT is applicable to the rent and service charge on this property.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Gifford Dixon, M20 on +44 161 506 9966 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Gifford Dixon, and do not constitute property particulars. Please contact Gifford Dixon for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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