Olde Worlde Restaurant in St Albans For Sale

Excellent trading position, sought after residential village HERTFORDSHIRE ST ALBANS

Price £50,000

Features

Attractive Olde Worlde Licensed Restaurant (closed)

FREE CAR PARK OPPOSITE FOR APPROXIMATELY 15 CARS

This attractive olde worlde property we understand is a Grade II listed building in the region of 835 ft²

Entrance to SPACIOUS RESTAURANT fully carpeted, some oak beams plus modern extension at rear (approximately 40 years ago), ceiling with spotlighting. Tables & chairs providing seating for 54 persons. BAR, sink.

Fully tiled ladies' & gentlemen's cloakrooms each with w.c. & wash hand basin

LEVEL KITCHEN with lino floor, stainless steel cladding to walls, stainless steel extractor. The equipment includes 2 4-burner gas cookers with ovens, 1 6-burner gas cooker with double oven, Tandoori oven, hot cabinet for plates, stainless steel tables, 2 sinks with drainers, microwave oven, upright double door stainless steel fridge, small deep freezer etc.

Cellar

Accommodation

THE ACCOMMODATION in the form of a SELF CONTAINED FLAT, GAS FIRED CENTRAL HEATING, let on a shorthold tenancy from September, 2023 at a rent of £1,675 per caldendar month. The accommodation comprises:

4 Bedrooms (2 doubles, 2 singles)
Bathroom with bath, w.c. & wash hand basin
Lounge
Kitchen

Outside

Shared yard at rear

Tenure

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 15/21 years full repairing and insuring lease at a rental of £45,000 p.a. exclusive of rates for the first 3 years with rent review at that time and thereafter every 3 years. (As will be appreciated with the rent from the accommodation of £20,400 p.a. the net rent payable is £24,900 p.a).

Uniform Business Rates: Nil payable after small business relief

RECOMMENDED FOR EARLY INSPECTION

Price

TO INCLUDE THE NEW LEASE, FIXTURES & FITTINGS £50,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 25,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote