Restaurant to rent
Property description & features
- - Prominently located in the town centre of the sought after town of Ludlow
- - Former restaurant premises that is Iconic in the town of Ludlow known as De Greys prior to trading as Wildwood
- - Three storey property with a basement area providing a Total Gross Internal Floor Area of approximately 3,101 ft sq ( 288.06 m sq) on the ground floor
- - Further two floors providing a Total Gross Internal Floor Area of approximately 3,389 ft sq (314.82 m sq) providing restaurant seating, stores and welfare facilities
- - Suitable for a wide variety of retail or restaurant uses
- - Grade 2 Listed
- - Available by way of an assignment of the existing lease (alternatively consideration maybe given to the granting of a new lease)
The property provides an iconic Grade 2 listed property that has until recently traded as Wildwoods and prior to that as the renowned De Greys of Ludlow. The property benefits from a double fronted glazed shop front and is arranged to provide accommodation over the three floors and basement area that has most recently been in use as a restaurant.
The property provides on the ground floor a Total Gross Internal Floor area of approximately 3,101 ft sq ( 288.06 m sq) arranged as restaurant seating, sales and a commercial kitchen. The basement area provides storage with a Total Gross Internal Floor Area of approximately 312 ft sq (28.98 m sq). The upper floors provide further restaurant seating and stores and welfare facilities with a Total Gross Internal Floor Area of approximately 3,389 ft sq (314.82 m sq).
An inspection of the property is recommended in order to fully appreciate all the characteristics of the property and its potential. The property would lend itself to a variety of restaurant and retail uses.
The property is of traditional timber framework and brickwork under a tiled roof cover.
Location
The property is prominently located fronting onto Broad Street in the town centre of the sought after town of Ludlow. The property is located close to the junction of Broad Street with High Street and Market Street and close to The Buttercross. The surrounding occupiers include Bodenhams, The Silver Pear and Fat Face.
Broad Street provides some on street car parking, subject to parking restrictions.
Terms
The property is offered to let by way of an assignment of the existing lease which is for a term of 25 years from 21st of May 2014 . The lease is granted on Tenants Full Repairing and Insuring Terms, subject to a schedule of condition. There are rent reviews at 5 yearly intervals with the next rent review due with effect from 21st May 2024. There is a Tenants Option to determine with effect from 21st May 2029. The current rent passing is £ 65,125 per annum.
Alternatively consideration would be given to the letting on a new lease on terms to be agreed (subject to status).
Property information from this agent
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