Italian Restaurant and Bar in Surrey For Sale

Situated in a parade, excellent main road trading position, residential, office and commercial area, SURREY.

Price £75,000 / £595,000

Features

Italian Bar and Restaurant (rescently Closed - March 2025)

COVERED FORECOURT WITH SEATING FOR 30 PERSONS

MUSIC LICENCE

DOUBLE FRONTED PREMISES in the region of 2,600 ft². Tiled floor, suspended ceiling with spotlights. Air conditioning with hot air. Tables and chairs providing seating for 70 persons. Ice cream freezer (12 flavours).

BAR with 3 taps. Seating for 10 persons.

Ladies' & gentlemen's toilets with w.c. and wash hand basin

Disabled toilet with w.c. and wash hand basin

KITCHEN. Stainless steel extractor unit, 2-6 burner gas cookers, refrigerated making table, grill, double sink and drainer, 3 freezers

Walk-in coldroom

Preparation room, preparation table

Basement in the region of 770 ft², used for storage purposes

Tenure

The vendor owns the long leasehold and subject to satisfactory references are prepared to grant a NEW SECURE RENEWABLE LEASE for 15 years with reviews every 3 years (next review 2028) at an initial rent of £42,000 p.a. for the first year, £45,000 p.a. for the second year and £48,000 p.a. for the third year, with rent reviews every three years thereafter.

Alternatively the vendor is prepared to offer for sale the Long lease, approximately 200 years unexpired with a ground rent of £100 p.a., no reviews.

Business Rates from April 2025 TBC. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2013, AND OFFERED FOR SALE SOLELY DUE TO OWNER'S RETIREMENT

Price

TO INCLUDE THE NEW SECURE RENEWABLE LEASE, FIXTURES & FITTINGS £75,000
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

OR TO INCLUDE THE VALUABLE LONG LEASEHOLD PROPERTY, FIXTURES & FITTINGS £595,000

SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 37,500 (lease) £ 416,500 (freehold) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote