No longer on the market
This property is no longer on the market
MapRestaurant
Auction
Restaurant
Features and description
- A Substantial Corner Building Arranged to Provide a Restaurant Fully Let Currently Producing £120,000 Per Annum
Sold prior to auction, for an undisclosed amountGuide Price = Sold Prior
*For Sale By Online PublicAuction 25th May 2022 09:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A Substantial Corner Building Arranged to Provide a Restaurant Fully Let Currently Producing £120,000 Per Annum
Tenure
Freehold
Description
Substantial recently refurbished two storey restaurant trading as Istanbul Restaurant, prominently situated at the corner of Yorkshire Street and St Mary's Way in the centre of Oldham. Nearby occupiers include Odeon Cinema, Coliseum Theatre and The Spindles Shopping Centre.
The property has recently been refurbished at a cost of over £500,000.
Accommodation
The following floor areas have been taken from VOA: -
Ground Floor Restaurant and ancillary 691.52 m2 / 7,444 sq.ft.
First Floor Restaurant and ancillary 654.81 m2 / 7,048 sq.ft.
Tenancy
The whole property is let to Istanbul Restaurant Ltd (Co. No. 13870896) by way of a 6 year lease from January 2022 at a rental of £120,000 pa. the lease incorporates a rent review after 18 months.
The tenant has paid a rental deposit of £20,000.
The Istanbul Restaurant Group specialise in Turkish cuisine. Their first restaurant opened in Manchester prior the pandemic have continued to expand their brand now trading from outlets in Derby, Nottingham and Oldham.
Their latest restaurant in Blackburn is scheduled to open in June 2022.
Note
Sold Prior
Addendum
Sold Prior
*For Sale By Online PublicAuction 25th May 2022 09:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A Substantial Corner Building Arranged to Provide a Restaurant Fully Let Currently Producing £120,000 Per Annum
Tenure
Freehold
Description
Substantial recently refurbished two storey restaurant trading as Istanbul Restaurant, prominently situated at the corner of Yorkshire Street and St Mary's Way in the centre of Oldham. Nearby occupiers include Odeon Cinema, Coliseum Theatre and The Spindles Shopping Centre.
The property has recently been refurbished at a cost of over £500,000.
Accommodation
The following floor areas have been taken from VOA: -
Ground Floor Restaurant and ancillary 691.52 m2 / 7,444 sq.ft.
First Floor Restaurant and ancillary 654.81 m2 / 7,048 sq.ft.
Tenancy
The whole property is let to Istanbul Restaurant Ltd (Co. No. 13870896) by way of a 6 year lease from January 2022 at a rental of £120,000 pa. the lease incorporates a rent review after 18 months.
The tenant has paid a rental deposit of £20,000.
The Istanbul Restaurant Group specialise in Turkish cuisine. Their first restaurant opened in Manchester prior the pandemic have continued to expand their brand now trading from outlets in Derby, Nottingham and Oldham.
Their latest restaurant in Blackburn is scheduled to open in June 2022.
Note
Sold Prior
Addendum
Sold Prior
About this agent
Auction House London is the largest branch of the Auction House UK brand. Auction House holds more auctions annually than any other firm of auctioneers in the UK and sold 4,957 properties throughout 2018 – over 1,000 properties more than our closest rivals. Co-founded by Andrew Binstock and Jamie Royston in 2011, Auction House London has grown year on year in its relatively short history to become one of the top 5 residential property auctioneers in the UK. We adopt a modern and dynamic approach to offering high quality auction facilities to both corporate and independent sellers and buyers. We firmly believe in the importance of extensive online marketing campaigns in addition to the traditional offline methods. Our forward thinking approach to auctions has been regularly applauded and we are very proud to be recognised as offering extremely high levels of customer service to all of our clients. With a proven track record in residential and commercial investments and property auctions, the team offers a fresh and energetic approach to their auctions, providing a quality service that achieves the right results for all parties.