Situated in the popular trading thoroughfare of East Street on the edge of the historic Lanes area of Brighton and within sight of Brighton seafront, East Street hosts a number of well-known retail concerns, with Tony & Guy Hairdressers adjacent and other well-known traders, such as Molton Brown, Russell & Bromley, Hugo Boss and All Saints, within close proximity.
The area is also home to numerous successful local and regional traders, in addition to a good selection of successful restaurants and bars. East Street is an established day and night pitch, within easy walking distance of a number of leading hotels, including The Jury's Inn, Royal Albion and The Grand Hotel.
KEY FEATURES
- City Centre Restaurant
- Popular East Street/The Lanes
- Quality Fitments to suit all Style of Restaurant
- Available Due To Relocation
An established city centre restaurant adjacent to the historic Lanes area of Brighton, close to the seafront and on a mid point within this prime retail thoroughfare. The restaurant is decorated and fitted to a particularly high specification throughout and currently offering up to 65 covers. There is a modern fitted kitchen and stores to the lower ground floor.
PROPERTY DETAILS
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Ground & Lower Ground Floor Restaurant Premises
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1488 sq ft
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(138.24 m2)
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ACCOMMODATION
- Gross Frontage - 13’ 4”
- Maximum Internal Width - 19’ 3”
- Maximum Internal Depth - 52’ 5”
- Restaurant Trading Area - 828 sq ft
A hugely attractive restaurant offering approximately 65 covers, and is fitted to a high specification throughout, with free standing quality tables and chairs, some banquet seating, natural wood flooring and a main glass entrance door with concertina windows.
A full inventory is available on request.
To the rear of the restaurant are two high quality refurbished male and female w/c's with baby changing facilities with open plan wash area, comprising of two butler sink units with mixer taps.
Staircase lead to the lower ground floor kitchen and food preparation area;
Kitchen - 256 sq ft (23.7 sq m)
Food Preparation Area 139 sq ft (13.0 sq m)
Fully fitted throughout with stainless steel fittings and separate free standing appliances, tiled floor with its own food preparation area.
BUSINESS
The premises currently trade as a high end Italian Restaurant who are now relocating to a new trading location. For many years previously, the restaurant traded successfully as 'Indian Summer' who expanded into the adjacent premises and the opportunity is open to all types of restaurant operators seeking city centre and an established catering business location.
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Ground & Lower Ground Floor Restaurant Premises
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To Let: £35,000 pa
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Lease
Held for a term of 15 years from 23 June 2015, to expire 2030.
Rent £35,000 per annum, exclusive.
There is an option to determine in 2020.
Rent Review
The next rent review is in 2022 and thereafter every five years.
Repairing Liability
An effective Full Repairing and Insuring lease by way of a service charge payment.
Premium
Offers invited of £92,500 (ninety two thousand, five hundred pounds) for the current valuable leasehold interest, extensive fixtures and fittings, business goodwill and licensing.
Business Rates
- Billing Authority: Brighton & Hove
- Description: Office and Premises
- Rateable Value: £34,750
- Rates Payable: £17,270
- Valid from: 01 April 2010 (current)
VAT
The property is elected for VAT, therefore VAT is chargeable on the terms quoted.
Legal Fees
Ingoing tenant to cover both parties legal fees associated with this transaction, to include the landlord.
Viewing Arrangements
Strictly via prior appointment through sole agents Graves Jenkins