175-177 Northcote Road, London, SW11
LEASE FOR SALE
Gross ground floor area 1,885ft² (175m²)
Basement approx. 510ft² (47.3m²)
LOCATION: The property is situated on the prominent Northcote Road at the corner of Honeywell Road and close to the junction with Broomwood Road. Northcote Road is a popular social destination within south west London with operators including The Bollingbroke Pub/Diner (immediately opposite), Numero Uno, Franco Manca, Bills as well as Joe & The Juice (opening soon in 2019). Public transport is available from Clapham Junction mainline station.
DESCRIPTION: The property comprises a corner positioned double-fronted Class A3 restaurant unit currently operating as a restaurant/diner and kids entertainment space. The premises is arrange over ground floor and basement. The ground floor provides a good open plan restaurant space with capacity for approx. 80 covers (subject to layout), along with male and female WC/washrooms and separate baby changing facility and a well equipped galley style kitchen. There is also a basement storage area including a walk-in cold store.
The current business has an approximate turnover of £450,000 per year and the sale also includes fixtures and fittings (inventory to be provided).
ACCOMMODATION: The property comprises the following approximate areas and dimensions:-
Internal width (max) 36' 10" (11.2m)
Unit depth (max) 55' 2" (16.8m)
Gross ground floor area 1,885ft² (175m²)
Male & female WC/washrooms and baby changing
Basement 510ft² (47.3m²)
TENURE: The property is held on an effective full repairing and insuring lease for a term of 25 years from 24th June 2006 with rent reviews on each 5th anniversary of the term. The current rent is £65,000 per annum exclusive. The lease is held in a company name with a personal guarantor and a 3 month rent deposit.
PREMIUM: Offers in the region of £85,000
BUSINESS RATES: London Borough of Wandsworth
Rateable Value (2017 list): £43,250
Rates Payable (2018/2019): £21,322.25
UBR for 2018/2019: 49.3p in the £
This information has been obtained verbally and we would advise interested parties to verify this with the appropriate rating authority.
LEGAL COSTS: The ingoing tenant to be responsible for both parties reasonable legal costs, to include the landlords reasonable Licence to Assign costs.
VIEWING: Strictly by appointment through Sole Agents:
BELLS COMMERCIAL 020 7228 4405 Ref: SC
The Energy Performance Certificate has been commissioned and will be available on request
SUBJECT TO CONTRACT
PLEASE CHECK CURRENT STATUS AND AVAILABILITY PRIOR TO INCURRING ANY EXPENSE
Bells for themselves and for vendors or lessors of this property whose agents they are give notice that:
(i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract;
(ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them;
(iii) no person in the employment of Bells has any authority to make or give any representation or warranty whatever in relation to this property;
(iv) all applicants are advised to confirm prior to their appointment to view a property that it is still available and that all of the main details are unchanged.
Bells Commercial Limited are members of The Property Ombudsman Milford House 43-55 Milford Street Salisbury Wiltshire SP1 2BP www.tpos.co.uk 01722 335 458 Membership No. T01796 and operate an internal complaints procedure a copy of which is available on request.
Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.