Restaurant, Borough, Central London

 

218/220 Borough High Street, Borough, London, SE1 1JX

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Restaurant
  • Tenure: Virtual Freehold
  • Gross Rent: £50,000
  • Lease Term: 15 years from 24th December '15
  • VAT applicable?: Y

Property Description

  • Virtual Freehold, restaurant investment in Central London.
  • The property is arranged on ground floor only and is currently occupied as an Italian restaurant.
  • The ground floor site extends 872 sq ft.

Location Description

  • The property is situated on the west side of Borough High Street (A3), immediately south of the Great Dover Street/Marshalsea Road (A2) junction and Borough Underground Station (Northern line).
  • Borough forms part of the London Borough of Southwark and is situated 1.5 miles east of Charing Cross on the south bank of the River Thames.
  • Nearby occupiers include Starbucks Coffee (opposite), Foxtons and a variety of restaurants, estate agents and local occupiers.

Additional Notes

  • At present, the property is let to Amo La Pasta Ltd for a term of 15 years from 24th December 2015.
  • The lease provides rent reviews every fifth year of the term and contains effectively full repairing and insuring covenants.
  • The lease contains mutual option to break at the end of the tenth year.
  • The vendor holds a £25,000 rent deposit.

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