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Bennetts Hill - Birmingham - West Midlands

A3 - Restaurants / Cafes for sale

£ 250000 For Sale

A3 - Restaurants / Cafes for sale

£ 250000 For Sale

  • LOCATION
    The property is located on Bennetts Hill, a busy commercial street approximately 50 metres from New Street and is surrounded by other popular eating establishments such as Bella Italia, Ask Italian, Wagamama, Bodega, The Indian Streatery and the Cozy Club thus making this area one of the most visited dining areas in Birmingham.

    DESCRIPTION
    The premises have been substantially modernised and are in immaculate condition. There is a fully fitted, functional and well equipped kitchen and an attractive main bar area. At ground floor level one will find the main restaurant and bar and the basement has a private function room with bar, the kitchen, a staff room and an office together with guest toilets. A full list of the fixtures and fittings can be supplied on request. The total acquisition value of the fixtures and fittings exceeded £180,000 and have been well maintained. The total “fit out” cost was approximately £130,000. The buyer will have the benefit of the fixtures and fittings, the improvements and the existing goodwill of the business for the purchase price.

    ACCOMMODATION
    Amantia is a popular and well regarded, niche, Spanish restaurant which has developed a reputation for excellent food and for providing well attended and select Spanish themed evenings with dancing and live music in the function room. The business was established in or about 2014 and turnover has increased year on year with a current projected annual turnover in the region of £605,000. Full accounts can be supplied on request. The property has the benefit of a CCTV security system and a compliant and fully maintained fire alarm system.
    The premises fall within Use Class A3 (restaurant use) and have the benefit of a current alcohol licence.

    AMENITIES
    THE GROUND FLOOR
    Restaurant and Bar Area: 17.68m x 11.58m (including dessert prep. area: 3.73m x 2.54m)
    Easy Access Toilet
    Storage Room: 4.32m x 2.65m
    THE BASEMENT LEVEL

    Function Room: 13.35m x 5.23m
    Kitchen and Washing Area: 12.23m x 5.09m
    Dry Store: 5.98m x 5.10m
    Plant Room: 4.53m x 3.16m
    Gents’ Toilet: 4.36m x 1.92m
    Ladies’ Toilet: 5.34m x 1.94m
    Staff Room: 3.84m x 2.45m
    Office: 2.44m x 2.44m

    TERMS
    The current owners occupy pursuant to an underlease dated 10th November 2014 and the immediate landlord is Sainsbury’s Supermarkets Ltd. The term granted by the underlease expires on 21st December 2020 and the new term and rent will be negotiated at that stage. The current rent payable is £65,000 per annum plus VAT. Details of both the headlease and the underlease can be supplied on request.

    OUTGOINGS
    The Business Rates payable for the 2018 Financial Year were £47,081.50 however reliefs may be available and any buyer of the business must make their own enquiries.

    VAT
    Unless specified, all monetary sums will be exclusive of VAT where applicable.

    LEGAL COSTS
    Each party will pay his/her own legal costs

    PLANNING
    The premises fall within Use Class A3 (restaurant use) and have the benefit of a current alcohol licence.

    • Postcode: B2 5RS
    • Region: West Midlands

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Arkade Property Limited
41 Warstone Lane
Birmingham
B18 6JJ

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