Ground floor restaurant and bar for lease in Elephant & Castle, London with high-spec fit-out
Waterloo, London
- Status
UNDER OFFER
- Advert ID
641162
- Reference
1am Elephant & Castle Bar & Restaurant For Sale / Rightbiz
- Call Agent:
- Leasehold: £80,000
- Rent: £40,000 (£3,333 per month)
- Turnover: On request
- Profit: On request
Key Features
- Strong online presence and reviews
- Additional income potential through food
- Ample seating capacity
- Alcohol licence included
Business Details
Beautifully fitted 1am licensed ground floor restaurant & bar located in Elephant & Castle
LOCATION
A beautiful double fronted restaurant unit in the Elephant Park development, prominently located on Ash Avenue benefitting from generous frontage, high-spec fit-out and strong footfall from the growing local residential & office base. The area is undergoing a major regeneration: a new Elephant & Castle Town Centre (including 200,000 sq ft of commercial space, retail, restaurants and public realm) is due for phase one completion in early 2026. The London College of Communication / UAL campus, for 5,000 students, will open in 2027. New entrances under the railway arches
and an upgraded transport hub add further enhancement to this increasingly vibrant Zone 1 location.
Elephant & Castle benefits from excellent connectivity with Northern and
Bakerloo line services from Elephant & Castle Underground station (Zone 1/2).
Oxford Circus is reached in around 10 minutes via the Bakerloo line, with Bank
and the City just 5 minutes away on the Northern line. The area also benefits
from Thameslink and Southeastern National Rail services, along with extensive
bus routes providing quick access across Central London.
Nearby operators include Joe and The Juice, Gails, Kokoro, Cheemc, Theo’s and
Kachori.
DESCRIPTION
The beautiful restaurant benefitting from a high-spec fit-out, originally undertaken at a cost in excess of £500,000. The unit is fully equipped with three-phase electrics and commercial gas, a fully installed HVAC system, and a large walk-in cold room. Full kitchen extraction is in place. The quality of installation ensures the premises are effectively turnkey for an incoming operator.
ACCOMMODATION
The property comprises the following approximate floor areas:
Ground floor - 1,982
External seating - 555 sq ft
LEASE
Assignment of the existing lease expiring in May 2037 held outside the landlord and tenant act. The lease is subject to 5 yearly rent reviews with the next rent review in 2027.
RENT
Higher of £40,000 pax or 11.25% of turnover
PREMIUM
Offers in excess of £80,000 to include the business, branding and all fixtures and fittings
LICENSE
We are advised that the premises benefits from a favourable 1am premises
license allowing on and off sales, live music, the sale of alcohol without food and
vertical drinking. A copy of the license is available on request. A copy
of the license is available on request.
BUSINESS RATES
Rateable Value - £53,500
UBR - 0.546
Rates Payable - £29,211
THE BUSINESS
The premises are available by way of a business sale (100% share transfer) and there are significant cost savings in doing this. The £40,000 rent is very low and a concessionary rent personal to the business. This would transfer in a business sale. Alternatively, the lease can be assigned to a new concept however the rent would be in excess of £80,000 pax. More details on request.
FURTHER DETAILS
Marc Rogers
07816 764653
[email protected]
http://www.mkrproperty.co.uk
Contact Agent
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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.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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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.
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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.
Stay Safe
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.
Stay Safe
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.
Stay Safe
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.'.
Stay Safe
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.
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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.
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