Double Fronted High Street A3 Opportunity For Sale

Business description

Assignement of lease - no premium. Opposite brand new Barnet College due for completion at end 2009. High Street, Barnet. Herts, EN5.

SUMMARY:

Prominent location
Partially fitted
Double fronted
Long term remaining
High street location
Opposite Barnet College
Close to student housing
Nil premium

LOCATION:
Situated in a prime position on Barnet High Street in amongst the main eating and drinking circuit. The area has steady trade throughout the week but is particularly busy on weekends. There are Good road and rail links the unit is just 5 minutes walk from High Barnet Tube station. There are an abundance of multiple operators in the near vicinity including Café Uno, Pizza Express, Pizza hut, Mc Donald’s and many others.

Barnet College is in the process of being rebuilt due for completion at the end of 2009 and is located opposite the premises.

ACCOMMODATION/AREA:
The premises are laid out over ground floor and basement, the ground floor can potentially accommodates in the region of 40 covers. The current user is a take away operator and doesn’t utilise the space to its full potential. The basement used to be operated as a bar but is now used for storage and offices there is potential to seat in the region of 80 covers in the basement.

The premises were not formally measured upon inspection and all sizes quoted are approximate.



Ground Floor: 800 sq ft
Basement: 2000 sq ft
Total: 2800 Sq ft

LEASE:
We are offering an assignment of the existing full repairing and insuring lease, granted for a term of 20 years from 24th June 2003 subject to 4 yearly rent reviews. The lease is granted inside the security of tenure provisions of The Landlord and Tenant Act 1954.

PASSING RENT:
£48,000pax

PLANNING:
It is understood that the premises benefit from A3 planning use.

V.A.T:
All rent and prices quoted may be subject to Value Added Tax.

POSSESSION:
Immediate upon completion of all legal formalities.

LEGAL FEES:
Each party to bear their own legal costs incurred should a successful transaction take place. The landlord’s reasonable legal and surveyors costs are to be split equally between the buyer and the seller.

FINANCE AVAILABLE:
Gilmarc only recommends Marlborough Leisure, the UK’s leading independent provider of funding solutions to the restaurant and bar sector. Marlborough specialises in leasehold loans. For more information please contact one of our team.

CONFIDENTIALITY:

THIS SALE IS HIGHLY CONFIDENTIAL UNDER NO CIRCUMSTANCES SHOULD A DIRECT APPROACH BE MADE TO STAFF AS THEY ARE UNAWARE OF AN IMPENDING SALE.

VIEWING:
Strictly by appointment through sole agents