BusinessHilton Smythe welcomes to the market this greatly located commercial building, newly fitted out to a very high standard as a high-end steakhouse/restaurant.
The premise is rented out for an annual rent of £40,000. The tenant has a 15 year lease in place with 10% rent increases every 5 years.
Ideal for any type of cuisine with up to 70 covers over 2 floors. However, is currently trading as an Italian restaurant.
The premise really needs to be seen, to appreciate the design and look of the restaurant with its high quality contemporary feel.
The premise has a full A3 usage and alcohol license and could offer a great investment, in the highly popular and sought-after city of Cardiff.
There is an extensive list of fixtures and fittings including a bar and fully fitted commercial kitchen. The premise has a sitting tenant allowing for an income upon completion.
LocationThis empty premise occupies a popular sought-after location on the outskirts of the city of Cardiff.
Cardiff is the capital and largest city in Wales and the eleventh-largest city in the United Kingdom. The city is the country's chief commercial centre and base for most national cultural and sporting institutions. Cardiff is also a significant tourist centre and the most popular visitor destination in Wales.
All of this adds to Cardiff being a very desirable location, with commercial property being in high demand.
TenureWe are advised that the business is being sold as a Freehold investment opportunity.
HoursN/A
StaffN/A
Financial ProfileThe restaurant is currently let out for an annual turnover of £40,000; this is set to rise by 10% every 5 years. The lease is for 15years.
According to the VOA website the current rateable value is £14,500, with rates payable of £5,800 per annum.
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