High Road, Whetstone

property details

High Road, Whetstone

to let

use class: a3

premium: £200,000

rent: £75,000 pa

tenure: leasehold

New Lease

size: 1,450 sq ft

A newly renovated, double fronted ground floor premises with two, 3 bedroom modern duplex flats above, situated in the affluent area of Whetstone, N20. Mala Indian Brasserie is an established restaurant having been trading successfully for numerous years. The premises boasts over 80 internal covers, and 20 externally, with an average turnover of circa £12k p/w and benefits from 1,450 square feet of high specification trading space.

The premises is in immaculate condition and specification throughout including bi-folding shopfront windows, 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 fridge and the added benefit of an alcohol licence and licenced trading hours up to midnight. A new FRI lease is to be negotiated.

Premium: £200,000
Rent: £75,000p.a
Rates: Please contact the local council for accurate information
Use: Class E with alcohol licence and A5 use
Term: New FRI lease to be negotiated
Rental Income: Estimated rental income from the flats above totals £48,000p.a.

Mala Indian Brasserie has become a destination point with customers travelling from afar to enjoy their dining experience.
The business has further potential with an additional push on the cocktail/alcohol offering, additional marketing, morning breakfasts, implementing a focused take away service, and more.

The 2, modern, 3 bedroom duplex flats above have an estimated yearly rental income of £48,000p.a (£2,000pcm) enabling a huge costing offset from the rent, bringing down the net rent to just £27,000p.a.

A considerable amount of investment has been made into the premises such as:
Double fronted with bi-fold windows
Fitted alarm
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
Italian coffee machine
Walk in cold room
Rear access
Allocated parking for 2 vehicles at the rear

LOCATION
The premises is ideally situated in the prominent area of Whetstone, positioned on Whetstone’s local high street.

Totteridge and Whetstone Tube station, conveniently part of the Northern Line, and a short walk to Oakleigh Park BR station, on the Great Northern and Thameslink service. Road access is also straightforward with the M1 and North Circular being just a few kilometres away, with all its connections in and out of the city. The property also sits equidistant to surrounding areas such as Cockfosters, High Barnet, Hadley Wood and Southgate.

Affluent nearby areas include the likes of Totteridge, Cockfosters, Hadley Wood & Hampstead.

The property is also spoilt by an array of local amenities including local restaurants, coffee bars, banks and supermarkets alike.

Please note we charge a £500.00 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.

Terms
The premises is to be sold with a new lease, with a current passing rent of just £75,000 per year with a premium of £200,000 being sought.

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

Legal Costs
Each party to bear their own legal costs and incoming tenant liable for landlords legal costs.

Viewing
Strictly by appointment only.

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