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Commercial property to rent

Church Street, Upton upon Severn

£19,750 pcm

Property Description

Letting information:

Furnishing: Not Specified

Key features

  • Commercial Property house

Full description

Tenure: Freehold

TOWN CENTRE RESTAURANT
CONTEMPORARY DINING FOR UP TO 61 COVERS
LEASEHOLD PROPERTY
20,000 FOR GOODWILL, FIXTURES AND FITTINGS

Location & Description:
The premises are situated close to the centre of this historic riverside town which serves a wide rural catchment area. The town is well known for its many festivals throughout the year and its thriving tourist industry. Strategically the town is well located some 8 miles (approx) from Malvern, 10 miles (approx) from Worcester and 6 miles (approx) from Tewkesbury. The city of Gloucester is approximately 15 miles and access to junction 1 of the M50 motorway is approximately 3 miles away.

The premises briefly comprise (with approximate dimensions)

Front Restaurant:
4.97m (16ft 4in) x 3m (9ft 10in)
Front restaurant area has views across Church Street to Upton's affectionately known "Pepperpot" being the tower of the original Church now used as a Heritage Museum, and this area leads into an additional seating area including the main bar (shown).

This area is currently set out to accommodate 16 covers.

Main Restaurant:
7.47m (24ft 6in) x 7.03m (23ft 1in)
Main restaurant area with approximately 45 covers, with traditional timber flooring and refurbished decor providing a contemporary dining atmosphere served by a quality kitchen to the rear. The restaurant has been fully renovated within the last 18 months and is complimented by new modern tables and chairs.

The restaurant has operated during the following times

Monday and Tuesday - closed
Wednesday 5pm - 11pm
Thursday 5pm - 11pm
Friday 5pm - 11pm
Saturday 10am - 11pm
Sunday 10am - 5pm

Kitchen:
5.34m (17ft 6in) x 3.76m (12ft 4in)
Fully operating commercial kitchen with two stores to the rear providing fridge and freezer and dry goods storage space. The kitchen was refurbished 18 months ago and the majority of the main components were replaced at that time.

WCs:
Male and female WC's off main restaurant area.

SERVICES
We have been advised that mains electricity, water, gas and drainage are connected to the property. Air conditioning/heating is provided in the main restaurant by wall mounted units.

This information has not been checked with the respective service providers and all interested parties may wish to make their own enquiries with the relevant authorities. No statement relating to services or appliances should be taken to infer that such items are in satisfactory working order and intending purchasers are advised to satisfy themselves where necessary.

TENURE
The property is currently held on a lease on a 25 year term from the 1st September 2006, expiring on the 31st August 2031.

A reduction in the passing rent of 20,750 down to 19,750 has recently been agreed with the landlord, with the rent then stepping up gradually over the next 4 years to a rent of 22,750 with effect from 1st September 2015.

A copy of the lease will be made available to interested parties.

THE BUSINESS
The property has been in use as a restaurant for a number of years with the recent incumbance having modernized the restaurant internally. The sale of the business offers an opportunity to increase turnover by offering extended tradin hours and diversifying the menu.

OUTGOINGS
Rateable Value 8,000 (1st April 2010)
Rates Payable 3,408 (2011/2012)

Due to the current rateable value, the property may benefit from small business rates relief.

This information has been obtained from the valuation office website however interested parties should confirm with the local billing authority that the quoted figures are accurate and as to whether any small business rates relief may be available. Worcester Council 01905 822755.

VAT
If applicable

LEGAL COSTS
Each party to pay their own legal costs in respect of the lease assignment.

PRICE
20,000 for goodwill, fixtures and fittings excluding alcohol.

GENERAL
Without prejudice to the generality of the foregoing, John Goodwin FRICS has made every effort to ensure that measurements, details and particulars are accurate. However, they are only an approximate general guide and the property particulars are produced in accordance with the Property Misdescriptions Act (1991) and should not be construed as a contract or offer. Any financial charge, regulatory/statutory information, lease, ground rent, photographs, service charge and distance details cannot be guaranteed for accuracy and therefore we recommend interested parties take legal advice prior to execution of any contract


To view this property or request more details, contact:

John Goodwin FRICS, Ledbury

3 - 5, New Street, Ledbury, HR8 2DX

01531 595006 Local call rate

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Property reference 200026520. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by John Goodwin FRICS, Ledbury.
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