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Restaurant for sale

The Grove, London, E15

1,625 sq. ft. | £90,000

Property Description

Commercial information

  • Business for sale
  • 1,625 sq ft (150 sq m)
  • Use class orders: A3 Restaurants and Cafes, A4 Drinking Establishments and A5 Hot Food Take away

Key features

  • Premium 90,000
  • A3/A4/A5 Restaurant & Cafe/Drinking Establishments & Hot Food Takeaways
  • Rental 25,000 per annum
  • Our client wishes to assign his lease which has 15 years remaining.
  • Approximately 1625 sq ft
  • Monday Close - Tueday - Thursday 12 noon till 11 p.m - Friday 14:00 p.m till midnight - Saturday & Sunday 12 noon till Midnight
  • Owner managed with 5 staff

Full description

Tenure: Leasehold

LOCATION: The premises are prominently located busy The Grove in Stratford. This commercial unit offers excellent transport links with Maryland and Stratford stations (serving on the Jubilee, Central, DLR, National rail services and Over ground lines), all within a few minutes' walk away, providing easy access to the City. The area is also easily accessible by car via the A112 and A118.

DESCRIPTION: This is a great opportunity to acquire a large A3 unit, which comprises of a large seating area accommodating approx. 100+ over both levels, which can be used for events and also has private booth seating areas. This commercial unit is situated in an excellent position, benefiting from good passing trade, and within close proximity of the popular Westfield Stratford City shopping centre. The unit is currently serving as an Arabic restaurant with a shisha garden and front porch area, and has been decorated to a high standard.

USES: A3/A4/A5 Restaurant & Cafe/Drinking Establishments & Hot Food Takeaways

PREMIUM: 90,000 Guide price for the benefit of the lease, fixtures, fittings and goodwill.

RENTAL: 25,000 per annum

TERMS: Our client wishes to assign his lease which has 15 years remaining.

BUSINESS RATES: We have been advised by the client that the current rates payable are 16,000 per year However, all interested parties are encouraged to make their own enquiries with Borough of Tower Hamlets

SIZE: Approximately 1625 sq ft

OPENING HOURS: Monday Close - Tueday - Thursday 12 noon till 11 p.m - Friday 14:00 p.m till midnight - Saturday & Sunday 12 noon till Midnight

STAFF: Owner managed with 5 staff

TURNOVER: Current turnover in excess of 260,000 per annum approximately

LEGAL COSTS: Each party are to bear their own legal costs


ENERGY PERFORMANCE CERTIFICATE: Energy Performance Asset Rating is 90- D Rating. A copy of this property's energy performance certificate is available on request.

REFERENCE CHARGE: London Properties charges a fee of 200 plus VAT for taking up references for proposed tenants. This fee is non refundable after the references have been taken up, whether they are accepted or not by the Landlord

HOLDING DEPOSIT: A holding deposit will be required to secure the property; the deposit will buy a period of exclusivity and will be held in the London Properties client account

FIXTURE & FITTINGS: Any fixtures, fittings, equipment, machinery and plants which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition

AGENT NOTE: London Properties for themselves for Lessors, Vendors and their agents, give notice that:-

1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries

2. These details do not constitute any part of an offer or contract.

3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties.

4. All rent prices, fees and charges are quoted exclusive of VAT

VIEWINGS: Through London Properties by appointment only.

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