* Included in Asking Price
Well established Restaurant ,Café and Delicatessen
Location North West London
Asking Price £ 500,000
The company is involved with developing an integrated site to contain a 126 sq.m. Restaurant, a 43 square meter. Delicatessen, a 50 sq. m. Commercial Kitchen and a 34 sq. m. Café. It is a family owned company (Ltd.) and internal family changes prevent it completing the development; and hence the opportunity has arisen.
Phase 1 of the development has been completed and comprised the following:
Acquiring the Leases of 3 adjacent shop units, located on the ground floor of a block of flats owned by Brent Council, in a prominent position at the corner of two busy thoroughfares in NW London, and converting them into a unified site fitted-out as a deli, a kitchen and a café (all internally linked, dimensions as above). Over £500,000 has been spent on the development so-far.
Phase 2 involves: Building a ground-floor extension, along the backs of the shop units, with a 6m. Frontage to the street (the space at present is occupied by an open yard and a shed). The extension (126 sq. m.) is to house a 62 seat restaurant, customer toilets and an office. Planning Consent has been obtained. Additionally, a 45sq. m. basement requires water-proofing in order to serve as the main storage area for the site.
|Facilities:||The site is held on two leases: The kitchen, café and yard lease runs till 2118, while that of the deli and shed runs till 2028. Brent Council is both Landlord and Planning Authority and, since Planning Consent (and Landlord’s Agreement) has been obtained to develop the site as one business, there is every prospect of the shorter lease being extended to match the longer one. Both leases are at a peppercorn rent.|
Seller Reference #AC336
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