Bar and Restaurant for sale in Oxford

DESCRIPTION
Element Restaurant & Bar is a first floor restaurant benefits from a superb glazed frontage giving prominence to the street. Internally the premises are fitted out as an A La Carte Restaurant and bar with a 130 plus covers. The restaurant could easily be adapted to a range of styles and offers great potential for a new operator.
LOCATION
Cowley Road is a vibrant cosmopolitan area with a strong student and professional population. It provides an excellent range of restaurants from small privately owned ethnic restaurants to multiple restaurateurs such as Nandos, there are also many bars including the recently opened Brewdog. Cowley Road has played a prominent part in the Oxford music scene, the 02 Academy Oxford and The Bullingdon are nearby. The restaurant can be
found directly opposite Tesco and there is a pay and display car park to the rear of Tesco.
TRADE
The restaurant has been trading for mostly during the evening as a bar and the food side of the business has not been utilized fully. There are huge potential to increase the trade by running it as a restaurant as well as day-time opening. The opportunity exists to convert this restaurant to a range of cuisine and offers superb potential. In addition the premises has consent for takeaway trade which has not been explored.
PREMISES
GROUND FLOOR - Main entrance. Double glazed doors provide access to entrance foyer, stairs and lift to first floor.
FIRST FLOOR (400m2) approx - This is currently laid out to provide 130 plus covers with feature glazed frontage, Fully Fitted Trade Kitche and equipped with extractor system, walk in Fridge Freezer, combi oven, Dishwasher and Ice Machine.
Ground Floor Storage (22m2)
Substantial ground floor storage Area
LEASE - The premises are held on a 7 year free of tie lease from 2022 with a passing rent of £60,000 per annum and renewable at the en of current lease. A service charge applies.
BUSINESS RATES - The property is in an area administered by Oxford Council and any queries must be made directly to them. LICENCE
A premise is primarily to be run as a Restaurant. The main licensable activities being: Supply of Food and Alcohol, Sunday to Saturday.

License activities supply of alcohol, performances of dance, films, live music, recording music, late night refreshment, provision of entertainment of a similar nature to Music and dance every day from  12-11:30 pm ( last drink order), closed by 12
Sale of alcohol off/on premises 
12 occasions per year until 2 am
SERVICES - The premises is connected to mains water, electricity, gas and drainage. Air conditioned restaurant.
VAT - All prices quoted and offers made shall be deemed to be exclusive of VAT and VAT will be added where applicable. In most cases VAT is reclaimable. Prospective purchasers should consult their accountant for professional advice in this respect.
EPC - The property has an EPC rating of C
OFFERS INVITED LEASEHOLD
Vibrant Location with high student population 130 Cover plus Restaurant
, 250 fit in capacity for events 
Fully Fitted to high standard Feature Glazed Frontage


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