10 year lease from 2018 - current rent £35k for 2019 increasing to £40k 2020
Situated in the desirable lace market
Ground and First floor trading space
£85,000 premium to include all equipment
Fully fitted bar and kitchen with courtyard area
Nottingham City Centre location
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Leasehold, free of tie opportunity Nottingham city centre bar, located in the very desirable High Pavement.
A 3 storey brick built mid terrace property with multiple trading areas across the first and second floors. Small rear courtyard and access to the bin storage area.
2 steps up to the front trading/bar area. The rear restaurant - comprises main bar servery and seating for circa 35 covers. To the first floor - ladies and gents w/c's, fully equipped catering kitchen, restaurant for circa 25 covers. Stairs to 2nd floor - currently used for staff room and storage.
Location & Area
Well positioned in the City Centre close to the Market Square, High Pavement has good pedestrian access being within walking distance to the main bus station at the Broad Marsh Centre and approximately a 5 minute walk from Nottingham Train station. Nottingham is well positioned within the Midlands, with an estimated population of circa 280,000, the City can be accessed from 3 exits from the M1 (J24 in the South Via the newly built dual carriageway A453, J25 via the A52 at Derby, and J26 Via the A610 to the North) The A453 junction to the South of the City leads to Kegworth and Castle Donington, ideal for Nottingham East Midlands airport and Donington Race track.
Price & Tenure
The lease assignment will be for the 10 year lease from 2018. Year 1 rent was £30,000 Year 2 rent is currently £35,000 Year 3 rent is £40,000 A premium for goodwill and fixtures and fittings will be £85,000. Plus any stock at valuation.
According to the valuation office agency website the current rateable value is £6300 per annum. For rate releif and exemption, interested parties are advised to make their own enquiries.
We are advised the property is opted to tax and so vat will be applicable on the rent and other landlords charges.
Both Parties will be responsible for their own legal costs.
We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent
Strictly by appointment with the vendors sole selling agents. Tel: Email You are recommended to contact us in the first instance prior to visiting the property even for an informal viewing.
An early discussion about finance can often save time and disappointment, talk to LLH Solutions about securing independent financial advice from one of our solution partners.
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