SOLD / WITHDRAWN
13/09/23
1519
FULLY FITTED RESTAURANT & BAR LEASE FOR SALE IN A PRIME LOCATION BY BALHAM STATION, LONDON SW12 / Rightbiz
LOCATION
The property is located in the heart of this affluent South West London suburb and in the immediate vicinity of Balham station offering excellent transport links via the Underground (Northern Line) and Overground stations (Zone 3). Nearby operators include Joe & The Juice, Pho, Franco Manca, Hache, Pizza Express and Megans.
DESCRIPTION
The property is arranged over the ground and mezzanine only. The ground floor seats approximately 40 covers with 2 WC’s at the rear and bifold doors opening onto Station Road at the front. There are circa 35 covers on the mezzanine with a large open plan kitchen kitchen with wash up / storage at the rear. The site is fully fitted and the premium includes 5 x 'By The Glass' wine dispensers which cost £10,000 each when new, high quality light fittings, all artwork & a fully fitted kitchen with a walk in fridge rational and claygrill / parilla from The Clay Oven Company.
FLOOR AREAS
The property comprises the following approximate floor areas:
Ground floor- 647 sq ft/ 60 sq m
Mezzanine – 387sq ft / 36 sq m
Total – 1,034 sq ft/ 96 sq m
LEASE
Available by way of an assignment of a newly agreed 15 year renewable lease at a passing rent of £45,000 pax.
LICENSE
We are advised that the premises license permits the sale by retail of alcohol both ON & OFF the premises from 10 am to 2300 Monday to Saturday and from noon to 2230 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) - £17,750
UBR - 0.499
Rates Payable - £8,857
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.
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