Vacant Licensed Basement Venue, 44-46 Saint John Street, London, EC1M 4DF

This 3,500 sq ft basement was formerly part of the 'Tinseltown' American Diner and Milkshake chain. Its location, close to Farringdon station and Smithfield market, attracted tourists and visitors to the area throughout the day and its late night food licence offered a suitable venue for clubbers attending the local Fabric nightclub. The unit has been vacant since Summer 2024 but the open plan trade area has been fully cleared out and all that remains is the shell and the fixed seating installed in the venue. The licenced venue offers an opportunity for a wide range of drinks focussed, entertainment and experience led operators.

Situated at 44-46 St John Street, London EC1M 4DF, this licensed basement venue is nestled in the vibrant heart of the Farringdon/Barbican area of Central London. The area is renowned for its dynamic blend of history and modernity, with a high density of residential and commercial properties. The property is easily accessible, with Farringdon Station (providing Underground, Elizabeth line and National Rail services) a mere 5-minute walk away. Additionally, several bus routes serve the vicinity, ensuring excellent connectivity. The surrounding area boasts an eclectic mix of shops, cafes, and restaurants, making it a popular destination for both locals and visitors. Benefiting from high foot traffic, St John Street is a bustling thoroughfare, attracting a steady stream of potential patrons. This prime location offers an exciting opportunity for establishing a thriving basement venue, capitalising on the area's lively atmosphere and convenient transport links.

After entering the bar from ground level you immediately travel downstairs into a foyer area with toilets and storage rooms to the left and the main entrance to the bar ahead of you. As you enter the venue, the large bar area is to the left and there is fixed seating along the right hand side. On the right hand side there are steps to an additional fixed seating area and an office. At the rear of the trade area is additional fixed seating amongst an arched ceiling. The kitchen, including walk in fridge freezer, is at the rear, right hand side of the venue and has both wash up and storage facilities. Services in the unit include air conditioning, drainage and both electric and mains gas.

This is a fantastic opportunity for any operator looking to acquire a new lease of a licensed central London basement venue. Due to lack of access for cleaning of the kitchen extraction vents, which pass through neighbouring properties, the venue is offered without the use of ventilation and therefore, any food offering will need to be produced without the requirement for extraction. The venue has sufficient trade space for a wet or entertainment led retail offering and suits an experienced hospitality operator with the access to funding to refurbish the property prior to opening. Our client seeks a strong covenant and appropriate retail offering for the unit.

The venue is currently closed.

The licensable hours are:

- 24 hours for Recorded Music
- 11pm - 5am for Late Night Refreshment
- 10am - 12am for Alcohol

A full copy of the Premises Licence is available on request.

Our client is offering a new 20 year, fully repairing and insuring, lease (Inside the L&T act 1954) seeking a rent in excess of £60,000 per annum. Rent will be subject to 5 yearly, open market reviews. Personal guarantors and a 3-6 rent month deposit, depending on the strengh of the covenant, will be required. The property will come with up-to-date compliance certification included.

The rateable value of the business, according to the VOA 2023, is £41,750. The local authority is Islington.