This is an assignment of a renewable FRI Lease from 20th April 2015 due to expire on 10th August 2029. The lease is within the Landlord & Tenant Act 1954. The lease is subject to 5 yearly Rent Reviews the next being 20th August 2019
The property is comprised of 5 floors from Basement to 3rd and has been refurbished to a high standard. The newly fitted kitchen is located in the basement with G and 1st being restaurant area providing approx. 60 covers.
The 2nd and 3rd floors are currently being used as storage, staff welfare and offices but could be separately let as offices as there is a separate entrance to the upper parts.
The passing rent is £78,000 per annum exclusive of business rates, insurance and VAT if applicable.
There will be a premium in the region of £155,000 for the benefit of the lease, fixtures and fittings.