Exceptional Restaurant & bar business for sale - Oakham LE15 6AJ

Exceptional Restaurant & bar business for sale – Oakham LE15 6AJ

To Let £45,000


  • LOCATION

  • This Bar and Restaurant occupies a prime location on Oakham High Street surrounded by other licensed and leisure operators, close to retail outlets including Boots the Chemist, Boots Opticians, HSBC Bank, numerous private retailers.

  • Oakham is a popular Market town and the County capital of Rutland, the smallest County in the UK. Well positioned in the Midlands close to the A1 at Greetham/Stretton with good access to other popular market towns, Stamford, Melton, Grantham and Uppingham all within 15 miles, and cities to include Peterborough and Leicester within 20 miles away. Motorway access is circa 20 miles West at Junction 21a, via the A46 from Melton Mowbray.

  • DESCRIPTION

  • The property was formerly 2 dwellings, during the most recent refurbishment, the properties came together to form the current restaurant space. A 3-storey brick built mid terrace property under a pitched tiled roof with rear garden and outbuildings for storage.

  • ACCOMMODATION

  • The ground floor comes in two parts, the main restaurant area with bar counter, open kitchen and 2 dining areas for approximately 60 covers (pre Covid), and disabled w/c. The second ground floor area offers a separate takeaway space with its own door for access and kitchen to the rear.
  • The first floor offers a further 50 cover restaurant space, with private are previously used as a Children’s playroom.
  • The second floor offers 6 w/c's (3 ladies and 3 gents) with ancilliary storage, staff room and 3 staff bedrooms.

  • SERVICES

  • We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.

  • TERMS

  • Offered for sale leasehold with a 10 year lease from December 2020 with 8 years remaining.
  • The property is fully fitted for trade The current passing rent is £45,000 rising to £50,000 + VAT in January 2023.
  • The lease premium of £70,000k will include the trading name and equipment for the business and will be sold by way of a share transfer plus £10,000 deposit.
  • OUTGOINGS

  • The current rateable value is £56,500 per annum, interested parties are advised to speak to the local billing authority for rates payable and any relief available.

  • VAT

  • We are advised that VAT will be chargeable on the Rent and on any Service charges and Landlords Insurance contributions required.

  • LEGAL COSTS

  • Both Parties will be responsible for their own legal costs. The sale will be by way of share transfer.

  • OTHER

  • Finance may be available through Independent Financial Brokers and P & F Commercial would be pleased to make an introduction for you. The Brokers are completely Independent and will offer confidential, unbiased advice regulated by the Financial Authorities. Please ask for further details.

  • VIEWING

  • Strictly by prior appointment via the sole agents P & F Commercial Tel: 01664 431330 or via email office@pandfcommercial.com


    Property Details

    • Reference: 10703
    • Type: Retail
    • Status: To Let

    Location Map

    Open In Google Maps