Nearby occupiers include Waitrose, Prezzo, Pizza Express, Caffé Nero and Fat Face
Short walk from Ely Cathedral - a popular tourist attraction
Attractive and affluent Cathedral City
VAT-free investment
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 33
Auction 13th October 2016
Rent £90,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Restaurant
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
14 miles north-east of Cambridge, 28 miles south of King’s Lynn
Roads
A10, A142
Rail
Ely Railway Station
Air
London Stansted Arport
Situation
Ely is an attractive City which is dominated by the large Norman Cathedral that is a popular tourist attraction. The property is located on the northern side of High Street, near to it's junction with the pedestrianised Chequer Lane, only a short walk from the Cathedral. Nearby occupiers include Waitrose, Boots the Chemist, Wilko, Sports Direct, Savers Health & Beauty, Fat Face, Mountain Warehouse, Costa, New Look and Prezzo.
Tenure
Freehold.
Location
Miles
14 miles north-east of Cambridge, 28 miles south of King’s Lynn
Roads
A10, A142
Rail
Ely Railway Station
Air
London Stansted Arport
Situation
Ely is an attractive City which is dominated by the large Norman Cathedral that is a popular tourist attraction. The property is located on the northern side of High Street, near to it's junction with the pedestrianised Chequer Lane, only a short walk from the Cathedral. Nearby occupiers include Waitrose, Boots the Chemist, Wilko, Sports Direct, Savers Health & Beauty, Fat Face, Mountain Warehouse, Costa, New Look and Prezzo.
Tenure
Freehold.
Description
The property comprises a large ground floor restaurant with a cinema room and ancillary accommodation at first floor. The property was comprehensively refurbished in 2011.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a large ground floor restaurant with a cinema room and ancillary accommodation at first floor. The property was comprehensively refurbished in 2011.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Restaurant/Ancillary Cinema Room/Ancillary
360.28 sq m 110.09 sq m
(3,878 sq ft) (1,185 sq ft)
TASTY PLC (1) t/a Wildwood
25 years from 13/02/2012 until 12/02/2037 on a full repairing and insuring lease)
£90,000
13 /02/2017 and five yearly thereafter
TOTALS
470.37 sq m
(5,063 sq ft)
£90,000
(1) Tasty Plc are a UK restaurant operator currently trading from 53 restaurants (over 40 as Wildwood) with plans for continued expansion. Other Wildwood restaurants include Cambridge, Canary Wharf, Covent Garden, Chichester, Cheam and Kingston. The principal shareholding directors of Tasty Plc include the founders of the restaurant chain Ask Italian. For the year ending 27th December 2015, Tasty Plc reported a turnover of £35,794,000, pre-tax profits of £3,067,000 and a total net worth of £21,814,000 (Sources: www.wildwoodrestaurants.co.uk and Experian Group 09/09/2016).