214-216 high street, n2

property details

214-216 high street, n2

for sale

premium: £365,000

p.a: £35,000

tenure: leasehold

size: 2,026 sq ft

A newly renovated, double fronted ground floor premises situated in the affluent area of East Finchley, N2. Genzo is an established restaurant having been trading for over 13 years. The premises boasts over 120 covers internally and externally, with an average turnover of circa £20k p/w and benefits from over 2,000 square feet of high specification trading space. The premises is in immaculate condition and specification throughout including aluminium bi-folding shopfront doors, ceiling features, bespoke lighting, air conditioning, security alarm and the luxury of ample storage space at the rear of the premises with a fully fitted stainless steel kitchen, walk in fridges and the added benefit of an alcohol licence and licenced trading hours up to midnight. A new lease can be negotiated.

Premium: £365,000
Rent: £35,000p.a
Rates: Circa £6,000p.a (with the 50% discount). Please contact the local council for accurate information
Use: Class E with alcohol licence and A5 use
Term: New lease to be negotiated

Genzo has also become a destination point with customers travelling from as far as Islington to enjoy their dining experience. The restaurant currently trades 6 days a week with an average turnover of £20,000p/w with a high profit margin. Trading hours are currently from 12pm to 11pm.
The business has the potential to generate £30,000 p/w with the introduction of a 7 day trading week, a push on the cocktail offering, additional marketing, morning breakfasts, trading up until midnight, implementing a take away service and more.

A considerable amount of investment has been made into the premises such as:
Double fronted with aluminium bi-fold doors
Fitted alarm
Sonos surround sound
Air conditioning
Professional interior design
Tiled flooring
Bespoke lighting throughout
Rear access
Fully fitted bar
Everything is owned (nothing leased)
Electrical powered awnings at the front
Rear access
A mixture of booth, bar and table seating areas
Drinks fridges
Bespoke, branded stainless steel fully fitted kitchen
Fracino coffee machine
Walk in cold room
Rear access

The premises is ideally situated in the prominent area of East Finchley and positioned on East Finchleys’ local high street. East Finchley Station is within a short walk providing convenient access into the Capital, with the North Circular also being just a short drive away. Affluent nearby streets include the likes of Creighton Avenue, Church Vale, Beech Drive and Ringwood Avenue, not forgetting the infamous Bishops Avenue being close-by.

The premises is to be sold with a new lease, with a current passing rent of just £35,000 per year with a premium of £365,000 being sought.

It is of our understanding that VAT is not applicable on the rent.

Legal Costs
Each party to bear their own legal costs and equally contribute to landlords legal costs

Strictly by appointment only.

Please note we charge a £360.00 admin fee in order to process references on behalf of the incoming Tenants.

Please contact one of our commercial property consultants at your earliest convenience to avoid potential disappointment.

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