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For Sale
  Restaurant    Leasehold   
£35,000
Bridge Street, Hereford, HR4
Location

The Ponte Vecchio restaurant is situated at the top end of Bridge Street, virtually on the junction with St Nicholas Street and King Street and occupies an extremely convenient and prominent location in the centre of Hereford. It is a short distance from Hereford Cathedral standing in a busy commercial area. Kerb side parking is available in Bridge Street and King Street while surface car parks are a short distance away as indeed is the main retail heart of Hereford City Centre.

Description

The property is Grade II Listed and occupies the ground floor of a commercial building which has offices above.

The premises have been in the café bar/bistro use for a number of years yet it is only in the last 9 years they have become so well known as a speciality Italian licensed restaurant. Currently trading with 36 covers. Current turnover is approx £110,000 pa generated largely by only opening 5 evenings per week thus there is considered to be scope for increasing this turnover figure by extending the opening hours.

The Bar and Toilet accommodation was refurbished in 2016.

Accommodation

Ground Floor

Restaurant area including Bar - 10.8 x 4.3 sq m

Kitchen - 3.3 x 3.9 sq m

Wash up/Scullery - 2.1 x 2.7 sq m

Male and Female Toilets

Ground Floor Rear

2 Storage Rooms - 3.0 x 2.9 & 2.8 x 2.7 sq m

The Business

The Business is offered for sale subject to an existing lease at £35,000 to include all items of fixed equipment together with trade fixtures and fittings. Stock to be available at separate valuation.

Tenure

The premises are held on the balance of a 15 year lease commencing 1st February 2015, at a rental of £11,850 per annum exclusive.

The Tenant is responsible for the accommodation on an internal repairing and insuring lease.

Services

Mains water, gas and electricity are connected. The property has a gas fired heating system with radiators in the restaurant area. The premises are fully equipped with catering equipment installed.

EPC

Not Applicable

Business Rates

The 2017 Valuation Office Agency List shows the property having a Rateable Value of £7,000. The multiplier for the 2017/18 year is 46.6p in the pound. The rates payable may be subject to transitional adjustment.

A tenant may be eligible for 100% Small Business Rate Relief discount. Prospective tenants are advised to confirm their eligibility for reliefs and their rate liability with Herefordshire Council.

Local Authority

Herefordshire Council, Town Hall, St Owen Street, Hereford

Telephone: 01432 260000.

For Sale £35,000

  • Restaurant
  • Leasehold


Property photo
 
Contact
A: Cross & James (Commercial) Ltd
T: 01432 343 777
E: commercial@crossandjames.co.uk
Reference: CRJA_001168



IMPORTANT NOTICE
Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.