*** LEASE FOR SALE ***
An exciting opportunity to acquire a lease on this this established/award winning speakeasy bar of approximately 1,300 sq ft situated just off Park Street, close to Bristol City Centre. The bar is trading as Scarlet Lantern (formerly Red Light) and benefits from a highly desirable 24 hour Premises License and is subject to a low rent of only £9,800pa.
The lease is available for sale at £100,000 (subject to a lease of the premises at a low rent of £9,800pa).
DESCRIPTION -
A rare opportunity to acquire a lease on an award winning bar situated in Bristol City Centre. The bar provides approximately 1,300 sq ft and is offered for sale with a full inventory (full details available on request).
Trading as Scarlet Lantern (previously Red Light), this is a vibrant, underground speakeasy bar, offering table service and private hire.
The bar enjoys a highly unusual and desirable 24 hour Premise License.
The lease is available for sale at £100,000 (subject to a lease of the premises at a low rent of £9,800pa).
LOCATION -
Situated at the top of Unity Street close to the junction with Park Street and College Green, BS1.
LEASE DETAILS -
The lease is held for a period of 20 years from the 21st December 2012 to the 20th December 2032, on effectively full repairing and insuring term at a current passing rent of £9,800 pa, subject to review.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
ENERGY PERFORMANCE CERTIFICATE -
Rating: B
VAT -
All figures quoted are exclusive of vat unless otherwise stated.
LEASE DETAILS -
Each party to incur their own respective legal fees.
CODE FOR LEASING BUSINESS PREMISES -
We advise all interested parties to refer to the RICS Code for Leasing Business Premises, link available via our website.
TENANT APPLICATION FEE -
The ingoing tenant will be charged an application fee of £250 plus VAT (£300 inc VAT) towards the costs incurred in undertaking appropriate credit and reference checks. Accounts will be requested where available and a deposit and/or personal guarantee may be required.
BUSINESS RATES -
The rateable value with effect from April 2017 is £9,300. We therefore expect those eligible for small business relief to benefit from a 100% exemption at this time. However, we advise all interested parties to confirm with the local authority directly.
CONTROL OF ASBESTOS -
As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for Asbestos and therefore recommend all interested parties to make their own enquiries.
VIEWING -
Strictly by appointment with Maggs and Allen only.
