Prime Restaurant & Bar on Upper Street, Islington

Key Features

• Prime Upper Street Location
• Lease with 'Tenant only' Break Clauses.
• Fitted Out to an Exceptional Standard
• Late 2am Licence
• Large Outside Seating Areas
• Close to Angel Tube Station

Description

The premises is currently fitted out as a Restaurant & Bar to a very high Standard with seating for approximately 120 covers plus a further 25 covers on the outside terrace. There is also additional space on the sunny roof terrace.

Available area

The accommodation comprises the following areas:

Location

The property is located on Upper Street in a very bust spot just moments away from the Business Design Centre with high footfall every day of the week. It is close to many independent and national operators and is a short walk away from Angel tube station.

Tenure

A FRI lease granted for a term of 15 years from July 2023 with 5 yearly rent reviews, and is granted outside the L&T act 1954.
There is a tenant only break clause in the 5th and 10th year of the term.

Rent

The current rent is £200,000 per annum exclusive.

Premium

On Application.

VAT

May be applicable to the premium and rent.

Planning/Licencing

There is a premises licence in place to serve alcohol with or without the provision of food until 12am Sunday to Wed, 1am Thursday, and 2am Friday & Saturday. These times also apply for the provision of Indoor Sporting Events Live Music and Performance of Dance.

Holding Deposit

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