Featured Brokers
CONFIDENTIAL SALE
FOR SALE
04/12/23
603453
Fully Fitted Restaurant - Islington Confidential / Rightbiz
LOCATION
Located on the North end of Upper Street within a 5 minute walk of Highbury and Islington Station. The restaurant is located in a vibrant and affluent area with many pubs, restaurants and cafés nearby. Other operators include Euphorium Bakery, The Trawlermen, Lucky Voice, British Patagonia Bakery and The Vineyard along with numerous independent retailers.
ACCOMMODATION
The restaurant is in excellent condition having been refurbished in 2021 and offers a true turnkey opportunity. The property is a mid terraced with a timber shop front and canopy cover. It is an “L” shaped property on ground floor providing circa 60 covers with an open kitchen with Marana Forni pizza oven (2 years old) to the rear and full extraction. Customer toilets, prep kitchen and a small managers office are located on the first floor.
ACCOMMODATION
The property comprises the following approximate floor areas:
Ground floor - 1,200 sq ft/ 111 sq m
First floor - 300 sq ft / 28 sq m
LEASE
Available by way of an assignment of the existing 15 year lease due to expire in 2028. It is our understanding that the lease is contracted inside the security of tenure and compensation provisions of the L&T Act 54.
RENT
£52,500 pax
PREMIUM
On application
FIXTURES & FITTINGS
All fixtures and fittings are included
LICENSE
We are advised that the premises license permits the sale by retail of alcohol both ON & OFF the premises from 10am until midnight Monday-Saturday and from 12 noon until midnight on Sundays. The license allows the sale of alcohol without food. A copy of the license is available on request.
BUSINESS RATES
Rateable Value (from April 2023) -£41,500
UBR - 0.499
Rates Payable - £20,708
Interested parties are advised to make their own enquiries to verify the business rates
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Get Solicitor
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