Fully Fitted Wine Bar / Restaurant to Let, Holland Park, W11
6 Portland Road, Holland Park, London, W11
Situation & Location
The property is situated on the eastern side of Portland Road, close to the junction with Holland Park Avenue at the heart of one of London’s most exclusive residential areas. Other businesses located nearby include Speck, Melt Chocolate, Jeroboams, Lidgates, Giraffe, Maison Blanc, Patisserie Valerie. View location map.
Description & Accommodation
The property comprises a self contained ground floor restaurant providing a bar/dining area of some 522 sq ft / 48.5 sq m; and a kitchen area of some 116 sq ft / 59 sq m. The restaurant currently provides some 40 covers.
Amenities
Fitted and equipped kitchen; hardwood flooring; M&F WC’s; air conditioning.
Terms
A new effectively full repairing and insuring lease is available for a term of 15 years at an initial rent of £60,000 per annum exclusive, payable quarterly in advance and subject to five yearly upward only rent reviews to higher of open market rent or RPI. A premium of £100,000 is sought for the benefit of all fixtures and fittings (excluding mirrors in dining area).
Licencing
We are advised that the property currently benefits from a 12pm drinks licence, with live music on Friday & Saturday, plus various special licences.
Common Expenses
The lessee will contribute a fair proportion of the cost of maintaining and insuring the common building structure.
Legal Costs
Each party to bear their own legal costs in connection with the grant of the lease; incoming tenant to bear both parties professional fees in connection with any Licence to Alter.
Energy Performance Certificate
An EPC is being prepared, copy available on request.
Business Rates
The local authority has verbally informed us that the rateable value for the premises is £22,750 and the rates payable for the current year ending 31/03/16 are £10,920. Interested parties should make their own enquiries and confirm: - Royal Borough of Kensington and Chelsea business rates department 020 8315 2082.
VAT
The property is not VAT opted.
Possession
Immediate upon completion of legal formalities.
Contact
Jeremy Barnard or Alan Bateman
Tel: 020 7938 3990
Fax: 020 7937 3764
Email: jb@jmwbarnard.com
Email: ab@jmwbarnard.com
Important Notice: Measurements are approximate and no responsibility is taken for any error, omission or mis-statement in these particulars which do not constitute an offer or contract. No representation or warranty is given either during negotiations, in particulars, or elsewhere. Unless otherwise stated all rents and prices are exclusive of VAT, where applicable.
