Prime, city centre restaurant (circa 5345 sq ft / 496 sqm) situated on the busy Quayside. Let to Loungers UK producing £95,500 pa.

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Description/Location

Situated in the heart of the Quay District with high, year round footfall and seasonal tourist trade. A well established, ground floor restaurant with stunning views across the River Exe. The property comprises a Grade II listed former warehouse and underwent a detailed renovation in 2017 when it was fitted out by the current tenant. Let with no break clauses and upward only rent reviews until 20/11/2031 on FRI terms with the next review 20/11/2026. The company has net assets of £144.7m as of December 2023 and operates 247 sites, with stated plans to open a further 400 in the UK.

VAT IS APPLICABLE TO THIS LOT

Tenure

Leasehold: Held on a lease until 14/06/2147 (123 years), ground rent £1. The lease permits retail and restaurant uses.

Local Authority

Exeter City Council

Viewing

Please contact Charles Darrow Network Auctions on 01626 330022

Accommodation

Ground Floor: Large open plan dining area with bar, beer cellar, customer wc's and ancillary accommodation. Outside: Terrace with additional seating and river views.

Rent

Passing rent £95,500 per annum

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*Guide Price & Reserves

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