BALHAM RESTAURANT/ BAR LEASE FOR SALE

FULLY FITTED TO A HIGH STANDARD

Ritherdon Road, Balham, London, SW17

SUMMARY:

LOCATION:
Just off Balham high road, the premises is centrally located within the heaver estate, a very affluent residential location, made up of substantial Victorian houses that reach a sale price of between £1.5 - £2.5 million. It is visible from Balham High Road and only 5 minutes walk from Balham and Tooting Bec Underground Stations.

ACCOMMODATION/AREA:
The unit briefly compromises of a large double frontage, a forecourt which can seat approximately 24 covers externally. The premises benefits from good natural light, currently divided up between a bar area which could fit approximately 60-80 people standing and a restaurant space which can seat approximately 30 covers. There is a fully fitted kitchen to the rear of the dining area with ample storage space and cold room. Customer WC’s including a disable WC situated to the left. The basement is split into two parts, the cellar/storage area is accessed from behind the fitted bar on the right, the other part is used as a staff area/Cloakroom and accessed from the left. The unit has been refurbished to a high standard, benefits from a modern décor and must be seen.

The premises were not formally measured upon inspection and all sizes quoted are approximate.

Forecourt: 312 sq ft
Basement: 166 sq ft
Ground: 1700 sq ft
Total: 2178 sq ft

LEASE:
An assignment of our client’s current Full Repairing and Insuring lease for a term of 15 years with approximately 6 years unexpired. It is understood that the lease is granted inside the security of tenure provisions of the Landlord and Tenant Act 1954. The rent review pattern is three yearly. A letter has also been provided by the landlords to confirm that in principle they have no objection either to an extension of the current lease or to granting a new lease, the period and terms to be agreed as necessary with the incoming tenant.

PASSING RENT:
£41,300

PREMIUM: Offers invited in the region of £120,000 for my client’s valuable leasehold interest, license, fixtures and fittings.

PLANNING/LICENCES:
We are informed that the premises benefit from A3/A4 use.

V.A.T:
All rent and prices quoted may be subject to Value Added Tax.

POSSESSION:
Immediate upon completion of all legal formalities.

LEGAL FEES:
Each party to bear their own legal fees incurred should a successful transaction take place.