Fully Fitted High Spec Restaurant in St Albans

Key Features

• Rare Restaurant Opportunity
• Fully Fitted to a High Standard
• Spacious High Spec Kitchen
• 76 Indoor Covers over Ground and First Floor
• Al Fresco Dining - 24 Covers
• Priced to Sell

Description

The restaurant is very well-presented and arranged over 3 separate dining areas, and a fully fitted bar and lounge area - in all accommodating 76 covers, as well as a private rear garden for a further 24 covers. There is a fully fitted commercial kitchen with top quality equipment, as well as WCs, staff rooms, cold and dry storage, and office.

Available area

The accommodation comprises the following areas:

Location

The restaurant is located in the centre of St Albans, thriving market town in the commuter belt of Hertfordshire. Nearby occupiers include Megan's, Bill's, Lussmanns, Ivy, Bellaccino's, Beech House and Little Marrakech to name a few. St Albans benefits from a vibrant evening trade and high footfall every day of the week.

Tenure

An assignment of the existing FRI lease expiring in September 2052, subject to 5 yearly rent reviews. It is understood that the lease is granted within the L&T act 1954.

Passing Rent

£38,000 per annum exclusive. The next rent review is in September 2027.

Premium

£85,000 for the lease, licence, F+F, equipment.

VAT

VAT may be applicable to the rent, premium and all other figures quoted.

Planning/Licensing

The premises benefit from E Class planning use and a premises licence allowing the sale of alcohol with food until midnight Monday to Saturday and 23.30 on Sunday. The venue is also licensed for weddings.

Confidentiality

Highly confidential and under no circumstances should a direct approach be made to staff as they are unaware of an impending sale.

Holding Deposit

A holding deposit will be required to secure the property which will allow a period of exclusivity and will be held in the CDG Leisure client account.