Empty Restaurant, Gin or Coffee Bar & Private Dining / Meeting Rooms

Assigned Agent
Location
Price
OFFERS INVITED
  • Price OFFERS INVITED
  • Agent Neil Mansell
  • Property type Restaurant
  • Reference EX3718
  • Contract type Leasehold
  • Location Colchester
  • Listing categories Pub / Bar, Restaurant / Cafe

SUMMARY

3 businesses in one but all complimentary to each other and being sold on a leasehold basis in a Grade I Listed building. The business was established in 2013 and has established a strong reputation in the area with further potential to expand and develop the business.

 

The restaurant, Gin Lounge / Coffee Bar and Private Dining / Meeting rooms would suit an established operator, able to run the business and focus time and attention to grow it further.

 

LOCATION

Situated in the centre of Colchester, the property is well known and maintained as a Grade I Listed building. The building is connected to the Town Hall and fronts onto West Stockwell Street.

 

Colchester is well connected via road and rail on the A12 and the train line into London Liverpool Street in around 60 minutes.

 

THE PROPERTY

Built in around 1890 the property has some magnificent architectural features and has been well converted into the current use making it a fairly unique environment to run a business from.

 

THE BUSINESS

All equipment, fixtures and fittings are owned by the business.

 

Full trading figures will be released to prospective purchasers once a viewing has happened and been agreed with the owners.

 

LEASEHOLD DETAILS

A 14 year lease was signed in 2013 and has the option to extend it by an additional 7 years at the end of the term. The current rent payable is £50,000 per annum. There are also additional service charges payable to Colchester Borough Council of approximately £16,000 per annum.

 

 

BUSINESS RATES

The Rateable Value (RV) for the whole building is £89,600 however each individual area needs to be reassessed for ratings based on each area being rented to different occupiers. Please see the Valuation Office Agency website at www.voa.gov.uk for more information.

 

PRICE

To include leasehold premises: OFFERS INVITED

The EPC Rating  is ‘N/A’.

  • Address Holly House
    220 - 224 New London Road
    Chelmsford
    Essex
    CM2 9AE

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