Let to Azzurri Restaurants Limited (formerly Ask Restaurants) on a lease expiring 2031 (no breaks)
Near to The Marlowe Theatre and Canterbury Cathedral
Close to the historic Kings Bridge and Weavers Buildings
Lot 7
Auction 24th October 2019
Rent £96,750 per Annum Exclusive
Status Sold Post
Price
Sector Restaurant
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
14 miles north-east of Ashford
62 miles south-east of Central London
Roads
A2, A28, A299, M2, M20
Rail
Canterbury East Railway Station (approx 80 minutes to London St Pancras International)
Air
Gatwick Airport
Situation
The property is situated in an excellent trading location on the north side of High Street, close to its junction with Best Lane in the heart of the city centre. The property is 250 metres south of Canterbury Cathedral, 100 metres south of The Marlowe, a 1,000-seat theatre, and 300 metres north-west of the Whitefriars Shopping Centre, which houses retailers including Marks & Spencer, Boots, Costa, Greggs, HSBC, KFC and Metro Bank. Other nearby occupiers include Zizzi, Pizza Express, West Cornwall Pasty Company and Prezzo.
Tenure
Freehold.
Location
Miles
14 miles north-east of Ashford
62 miles south-east of Central London
Roads
A2, A28, A299, M2, M20
Rail
Canterbury East Railway Station (approx 80 minutes to London St Pancras International)
Air
Gatwick Airport
Situation
The property is situated in an excellent trading location on the north side of High Street, close to its junction with Best Lane in the heart of the city centre. The property is 250 metres south of Canterbury Cathedral, 100 metres south of The Marlowe, a 1,000-seat theatre, and 300 metres north-west of the Whitefriars Shopping Centre, which houses retailers including Marks & Spencer, Boots, Costa, Greggs, HSBC, KFC and Metro Bank. Other nearby occupiers include Zizzi, Pizza Express, West Cornwall Pasty Company and Prezzo.
Tenure
Freehold.
Description
The property comprises a restaurant arranged over basement, ground, first and second floors. The ground floor provides a restaurant (60 covers), bar and kitchen. The basement a restaurant (50 covers) and bar. The first floor restaurant (48 covers) together with WC, storage and a kitchen. The second floor comprises office, storage and staff accommodation. There is further seating externally to the front and rear of the property together with access to the adjoining Great Stour river.
VAT
VAT is applicable to this lot.
EPC
See legal pack at acuitus.co.uk
Description
The property comprises a restaurant arranged over basement, ground, first and second floors. The ground floor provides a restaurant (60 covers), bar and kitchen. The basement a restaurant (50 covers) and bar. The first floor restaurant (48 covers) together with WC, storage and a kitchen. The second floor comprises office, storage and staff accommodation. There is further seating externally to the front and rear of the property together with access to the adjoining Great Stour river.
15 years from 20/05/2016 until 19/05/2031 on a full repairing and insuring lease (2)
£96,750
2021 and 5 yearly
Total
366.30 sq m
(3,946 sq ft)
£96,750
(1) For the year ended 1st July 2018, Azzurri Restaurants Limited reported a turnover of £260,264,000, pre-tax profits of £11,227,000 and a net worth of £88,676,000 (Source : Experian 10/09/2019). Ask trades from 111 restaurants nationwide (Source: www.askitalian.co.uk). (2) The previous lease was for a term of 20 years from 1996.
