NOTTING HILL/BAYSWATER RESTAURANT JUST OFF WESTBOURNE GROVE CONFIDENTIALLY AVAILABLE
OTTO’S PIZZA, 6 CHEPSTOW ROAD, W2 5BH
Corner location close to the junction with Westbourne Grove/ Pembridge Villas Other retailers/restaurateurs in the vicinity include Monsoon, Paperchase, Carluccio's, Evans Cycles, Cote, Farrow & Ball and Gotham. 35/40 cover ground floor restaurant with basement storage/ancillary Low rent, ten years remaining on fully protected Lease Acclaimed ‘gluten free’ pizza operation, would also suit other cuisines and styles
Subject to contract and exclusive of VAT if applicable. Important – Intrinsic Property gives notice that: 1: The particulars are set out as a general outline for guidance of intending purchasers/ tenants and do not constitute an offer or contract or any part thereof. 2: Descriptions, references to condition, permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchaser/tenant should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3: No person in the employment of Intrinsic Property has any authority to make or give representation or warranty whatever in relation to this property.
OTTO’S PIZZA, 6 CHEPSTOW ROAD, NOTTNIG HILL, LONDON W2 5BH Location The property is situated in a corner position at the junction of Bridstow Place, facing Artesian Street and approximately 60m north of the major junction of Westbourne Grove, Pembridge Villas and Chepstow Road. The prime shops and restaurants of Bayswater are a short distance t o the south, the residential area of Notting Hill is on the doorstep.
Description The restaurant comprises a ground floor and separate basement. The ground floor is fitted as a restaurant with circa 35 covers, bar servery, kitchen and prep area and customer wcs. The separately accessed basement provides an area for dry storage, staff and management office. There is space at the front for a small number of outside tables and chairs. The areas are approximately as follows: Ground floor 782 sq ft (72.7 sq m) Basement 532 sq ft (49.47 sq m)
Security Any assignee may be required to provide guarantors, rent deposit of other form of security depending on covenant strength. At present there is a rent deposit in place.
Business Rates The premises have a rating assessment of £33,000 meaning that the business rates payable for 2014/15 are approximately £15,906. Interested parties should verify this with the local authority or seek professional advice to verify the amount they will pay.
Premises Licence The Premises Licence will be available for transfer. Further information on hours and conditions on request.
Terms
Offers in the region of £150,000 are being sought for the benefit of the lease, fixtures and fittings and goodwill. Launched in 2010, Lease the restaurant is a highly acclaimed specialist pizza restaurant The premises are held on a full repairing and insuring lease for 15 offering cornmeal crust pizza, an emerging food trend in the USA years from April 2015. The current passing rental is £35,000 per offering an alternative to wheat and gluten based pizzas. The annum exclusive with rent reviews due in April 2015 and 2020. owners may consider selling the trading name, company or other the lease is fully protected inside the Landlord & Tenant Act. Intellectual Property with the sale. Further details on request.
6 CHEPSTOW ROAD
The proposed sale of this restaurant is confidential. No approaches are to be made to staff or management. The restaurant is still trading and it is possible to view the customer areas during trading hours. For formal appointments to view or further information Simon Kelly please contact the vendor’s sole agents, Intrinsic Property.
[email protected] 020 3397 1757