This property is no longer on the market
Shop
Property description & features
- Currently Trading as 'The Tacos Locos' Restaurant in Prime Location
- 3588 Sq Ft 80 + Seater Restaurant over 2 Floors
- Completely refurbished in 2017, Currently Taking £7,000 Per Week
- Seller May Entertain Sale of Business Only with Lease
Description - FREEHOLD AND BUSINESS SALE
£850,000 PLUS VAT
LOCATION DESCRIPTION
Sittingbourne High Street forms the main pedestrianised shopping spine to the town's shopping district, with its many and varied brand name retailers and eateries. Sittingbourne Train Station lies around 0.5 miles to the north, with its fast speed link to London St Pancras (journey time around 59 minutes), The M2 lies around 4.6 miles to the south, linking to The M25 and Dartford River Crossing.
PROPERTY DESCRIPTION
Ground Floor:
Main restaurant seating area: 82.37 SqM (886 Sq Ft) incorporating bar and large feature arched window
Rest of ground floor: 76.06 SqM (818 Sq Ft) incorporating a large galleried feature staircase to first floor, gents WCs, ladies WCs, internal corridor with stairs to kitchen, office and room housing a walk-in chiller room and freezer room
First Floor:
Upstairs restaurant seating area: 90.48 SqM (974 Sq Ft) incorporating a bar, bar seating area with central feature fireplace.
Stairs and landing: 14.68 SqM (158 Sq Ft), large feature galleried landing and stairs to ground floor
Kitchen: 37.05 SqM (399 Sq Ft) incorporating full extraction systems, rooflight and stairs to ground floor.
Cellar: 32.77 SqM (353 Sq Ft) incorporating stairs to ground floor.
AGENT'S NOTE
The freeholder and the business are for sale at £850,000
Alternatively, the seller will entertain the sale of the business only at £150,000 with a 20 year lease granted at a current rent of £45,000 per annum
CURRENT CLASS OF BUSINESS USE
The current class of business use is an 'E' Category use. Interested parties are to seek clarification from the local authority.
CURRENT BUSINESS RATES
Figures from the Valuation Office show a current rateable value of £16,500 per annum as of May 2022 which normally means an amount payable of between 40%-50% of this figure. Please check with the relevant local authority which is Swale Borough Council. You as a tenant may qualify to apply for small business rates relief meaning you could pay nothing or a proportion of this payable amount.
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