Holborn Wine Bar And Restaurant Of Impeccable Reputation For Sale

Business description

Description:
The Business Partnership is delighted to offer for sale this long established, family run wine bar in Holborn, central London.

The wine bar was established in 1973 and has been under the current vendor's management for over 25 years. It has built up a loyal following from the local commercial, legal and professional establishments surrounding its central location.

The intimate, yet surprisingly spacious interior caters for 70 covers in the main areas inside, 10 outside and also has a private dining room available for 12.

Premises Details:
The restaurant is based in a lovely terraced premises, occupying the ground floor, rear 1st floor and basement stretching back from this popular street. There is seating outside for 8-10, leading through the attractive traditional frontage to the bar area and thence to several interlinked seating areas. On the first floor are some offices and a private room which is available for hire for private dining, entertainment and meetings. The basement houses the very well equipped kitchen and wine stores.

Floor Area:
2400

Property information

Property:

Leasehold

Lease terms:

The 15 year lease is automatically renewable in 11 years time, has 5 year reviews, is within the '54 Act and current rent is £52,000. Total area occupied is over 2,400 sq.ft.

Living accommodation:

The vendor rents a 1-bed flat immediately above the premises at a remarkably low rent of £8,000 per year. There are 2 further flats available from the same landlord which may also be available to a suitable tenant.

Location:

The wine bar is situated on an attractive semi-pedestrianised street in Holborn, close to numerous law offices, large commercial organisations and tertiary health centres. Numerous bus routes and three underground stations are close by.

Business Operation

Reasons for selling:

The vendor wishes to start a different business closer to his home.

Years established:

1973