San Carlo Restaurant 38-40 Granby Street Leicester Leicestershire LE1 1DA

San Carlo Restaurant
38-40 Granby Street
Leicester
Leicestershire
LE1 1DA

Freehold Long-Let Restaurant Investment

Entirely let to restaurant trading as San Carlo - an award winning Restaurant Group
Lease expires November 2046 (No breaks)
Rent review in 2026 and 5-yearly thereafter
Trading in Leicester for over 25 years
VAT-free investment
Attractive Period Building
Approximately 12,201 sq ft
Located in Leicester's Cultural Quarter with nearby retailers include Marks & Spencer, Tesco Express (adjacent), Boots the Chemist, Superdrug, Nando's, Caffè Nero and several restaurants and bars as well as The Curve Theatre

Lot
6
Auction
27th March 2024
Rent
£58,750 per Annum Exclusive
Status
Sold
Price
£840,000
Sector
Restaurant
Auction Venue
Live Streamed Auction

Important Update

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Freehold Long-Let Restaurant Investment

Entirely let to restaurant trading as San Carlo - an award winning Restaurant Group
Lease expires November 2046 (No breaks)
Rent review in 2026 and 5-yearly thereafter
Trading in Leicester for over 25 years
VAT-free investment
Attractive Period Building
Approximately 12,201 sq ft
Located in Leicester's Cultural Quarter with nearby retailers include Marks & Spencer, Tesco Express (adjacent), Boots the Chemist, Superdrug, Nando's, Caffè Nero and several restaurants and bars as well as The Curve Theatre

Lot 6
Auction 27th March 2024
Rent £58,750 per Annum Exclusive
Status Sold
Price £840,000
Sector
Restaurant
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 28 miles south of Nottingham, 43 miles north-east of Birmingham
Roads: A6, A47, A563, M1 (Junction 21)
Rail: Leicester Railway Station
Air: East Midland Airport

Situation

Granby Street forms one of the main pedestrian routes leading into Leicester City Centre from the railway station. The property is situated on the east side of Granby Street with nearby retailers including Marks & Spencer, Tesco Express (adjacent), Boots the Chemist, Superdrug, Nando's, Caffè Nero and several restaurants and bars, as well as The Curve Theatre.

Tenure

Freehold.

Location

Miles: 28 miles south of Nottingham, 43 miles north-east of Birmingham
Roads: A6, A47, A563, M1 (Junction 21)
Rail: Leicester Railway Station
Air: East Midland Airport

Situation

Tenure

Freehold.

Description

The property comprises a large restaurant arranged on the ground, basement, first, second, third and fourth floors, with trading accommodation on the ground and basement floors and a function room at first floor.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band B

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band B

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas (Approx sq ft) (1)	Tenant	Term	Rent p.a.x.	Rent Reviews
Ground Basement First Second Third Fourth	Restaurant Restaurant/Ancillary Function Room Ancillary Ancillary Ancillary	190.00 160.20 200.50 214.00 202.90 166.05	(2,045) (1,724) (2,158) (2,303) (2,184) (1,787)	HARNBURY HOLDINGS LIMITED (t/a San Carlo) (2)	35 years from 12/11/2011 until 11/11/2046 on a full repairing and insuring lease	£58,750	12/11/2026 and five yearly thereafter
Total		1,133.65	(12,201)			£58,750

(1) Areas provided by VOA (www.gov.uk/find-business-rates)
(2) For the year ending 24th September 2022, Harnbury Holdings Limited reported a turnover of £52,564,194, a pre-tax profit of £1,895,204 and a net worth of £9,012,638 (www.northrow.com). The company's main trading name is San Carlo, who operate restaurants in various other locations including 8 restaurants in London, as well as restaurants in Manchester, Birmingham and Leeds. Harnbury Holdings Limited also trade under names including Isola, Fumo and Alto (www.sancarlo.co.uk).

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.