Description
The four storey property comprises the basement, ground and first floor restaurant bar, second floor office and third floor residential flat, with exposed stone and brick elevations.

Tenure & Tenancy
The entire property is held freehold (NT336668) however, the second and third floors have been sold off on long leases.

The restaurant arranged over ground, basement and first floor levels is subject to a 10 year lease to Weekday Cross Ltd (Company Number 12977336) expiring on 25 April 2031 at a current rent of £32,500 per annum, increasing to £65,000 per annum on 26 August 2023 and to a minimum of £70,000 per annum in April 2026. Open market rent reviews are on a five yearly basis subject to a cap of 3% annually compounded. The lease is held on full repairing obligations subject to a schedule of condition. The vendor will top up the rent to £65,000 per annum for the period between the date of completion and the 26 August 2023.

The second floor office is sold off on a long leasehold expiring 16th September 2124 at a peppercorn rent.

The third floor apartment is sold off on a long leasehold expiring 17th June 2124 at rent of £100 per annum.

VAT
It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT.

Planning
The property is Grade II Listed and situated within the Lace Market Conservation Area.

Money Laundering & Viewings
Money laundering regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.

All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff.