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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.
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.
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.
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
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.
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.
£24,000 per annum
The current contribution from this unit is £2,000 per annum
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)
Each party are to be responsible for their own legal costs incurred in this transaction.
We understand that VAT is applicable to the rent and service charge on this property.
For more information about this property, please contact Gifford Dixon, M20 on +44 161 506 9966 * (local rate)
Contact Gifford Dixon about this property
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