Lower Street Brasserie, Stansted Mountfitchet
Leasehold for Sale
Rent: Passing Rent £22,500 Ex VAT per annum
Price: Offers in the region of £79,500 Ex VAT exc VAT (if applicable)
Thriving restaurant business in affluent catchment
- 1,400 sq ft Gross External Area - (130 sq m)
- Turnkey operation - established and successful business
- Growing sales and high reconstituted net profit
- FLEXIBLE AND ADAPTABLE TRADING SPACE WITH EXTERNAL SEATING (C 80 COVERS IN TOTAL)
- 13 year protected lease commencing in July 2015
Stansted Mountfitchet is a thriving affluent village located 35 miles north of London, close to the border with Hertfordshire, approximately 3 miles north of Bishop's Stortford. Easy access is provided to the M11, junction 8, via the A120. Stansted Mountfitchet Rail Station is a short walk from the property. The Lower Street Brasserie is located on the main retail and commercial thoroughfare, characterised by a number of independent retailers, with a number of pay and display car parks within walking distance, as well on street parking outside.
Lower Street Brasserie provides a turnkey opportunity. The light character restaurant is accessed via a central doorway into flexible trading space split into 3 principle areas. To the left hand side is a dining area with wooden floorboards and feature Inglenook fireplace which leads to a central area overlooking the theatre of the trade kitchen with windows over looking the front courtyard. To the right hand side is further trade area with a mix of fixed and loose seating adapted to be used as a private dining or function room. In total, 50 covers are served.
Supporting these areas is a well equipped central commercial trade kitchen, male and female WC's and a rear area, used for deliveries and as a smoking shelter. The cellar provides a substantial basement used for storage of wines, spirits and dry goods, along with walk in chiller.
Externally the property benfits from a dedicated front patio area to the left hand side (c 30 covers) with the right hand side being demised to the B&B operating from the 1st floor. The ground floor footprint (GEA), as measured from digital mapping, is approximately 130m² (1,400 ft²) excluding any rear storage.
The property is a protected 'free of tie' internal repairing and insuring lease from 6th July 2015 for a term of 13 years, subject to 3 yearly rent reviews, expiring in 2028, at a current rent of £22,500 per annum, exclusive of VAT. The agreement is inside the Landlord & Tenant Act 1954.
Lower Street Brasserie consistently generates a turnover of £8,000 per week gross. There is opportunity to further grow the business as it is closed for 1.5 days per week.
Detailed accounts can be provided to genuinely interested parties.
The property benefits from A3 Use Class (Restaurants & Cafe). We are advised that the property is Grade II listed and is situated within a Conservation Area.
Applicants are advised to make their own enquiries to Uttlesford District Council at www.uttlesford.gov.uk.
Offers are invited in the region of £79,500 for the benefit of the leasehold interest, inclusive of all goodwill and trade fixtures & fittings (save for 3rd party owned items). Stock at valuation will be payable in addition on completion.
Rates & Charges
Business Rates£7,127.51 per annum (based on a Rateable Value of £19,000)
The property benefits from transational rate relief
Council Tax£0 There is no residential accommodation associated with this unit
30 Lower Street