Featured Brokers
CONFIDENTIAL
FOR SALE
657791
Upper Street Islington Restaurant Opportunity / Rightbiz
Description
An excellent opportunity to acquire a substantial fully fitted restaurant in a high-footfall position on Upper Street, Islington.
The premises are arranged over basement, ground and four upper floors, providing approximately 2,904 sq ft, together with external seating for approximately 10 customers.
The restaurant is fully fitted and benefits from commercial kitchen facilities, extract, gas and 3-phase electricity, offering an incoming operator the opportunity to take over an established restaurant fit-out and introduce their own concept.
The existing restaurant forms part of an established branded restaurant group and the business itself is not for sale. The existing trading name, brand and goodwill are not included in the transaction. An incoming operator will therefore be required to introduce and trade under their own restaurant concept and brand.
Due to the nature of the property and landlord requirements, interest is invited from established operators with existing trading sites, or well-funded start-ups able to demonstrate suitable financial backing and provide a comprehensive professional landlord pack.
Location
The premises occupy a high-footfall position on Upper Street, Islington, close to Angel Underground Station and Angel Central Shopping Centre.
Upper Street is one of North London's most established restaurant, bar and leisure destinations, with nearby operators including Wingstop, Pho and Hotel Chocolat.
Accommodation
The property provides the following approximate floor areas:
Basement: 617 sq ft
Walk-in fridge, customer WCs, office and storage
Ground Floor: 744 sq ft
Trading area and kitchen
First Floor: 493 sq ft
Trading area
Second Floor: 582 sq ft
Manager's accommodation / storage
Third Floor: 460 sq ft
Manager's accommodation / office
Total: 2,904 sq ft
There is also external seating for approximately 10 customers.
Tenure
The premises are available by way of an assignment of the existing lease, expiring in 2030, at a passing rent of: £96,000 per annum exclusive
The existing particulars describe the lease as renewable.
Premium
All offers invited.
Use
Restaurant / Class E.
Fixtures & Fittings
The premises are fully fitted, with commercial kitchen facilities, extract, gas and 3-phase electricity.
Fixtures and fittings are available as part of the transaction, but the existing business, brand and goodwill are not for sale.
Premises Licence
It is understood that an existing premises licence permits the sale of alcohol:
Monday – Saturday: 10am – midnight
Sunday: 12 noon – 11.30pm
A copy of the premises licence is available on request.
Business Rates
Rateable Value: £90,000
Rates payable: £38,700
Interested parties should make their own enquiries regarding the rates payable.
Operator Requirements
Please note that only established operators with existing trading concepts, or well-funded start-ups with suitable experience, funding and a professionally prepared landlord pack, will be considered.
Prospective tenants should be prepared to provide details of their proposed concept, existing trading sites (where applicable), company structure, funding and supporting financial information before a formal viewing is arranged.
Strictly Confidential – Staff Unaware
This is a confidential disposal. Staff are unaware and must not be approached regarding the availability of the premises under any circumstances.
All enquiries and viewings must be arranged strictly through the appointed agent.
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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