Embed Size (px)
Citation preview
CANAL REACHURBANEST KINGS CROSS N1WESTFIELD LONDON | W12
OVER 7,000 SQ FT OF RETAIL SPACEADJACENT TO NEAL’S YARD AND GANTDOUBLE HEIGHT MALL FRONTAGE
FLAGSHIP RETAIL UNIT LEASE FOR SALE
RESTAURANT UNIT TO LET
RE TAI LSTAT ION R E TAI L
LOCATIONThe unit is located within the student housing development known as “Urbanest Kings Cross”, which consists of 670 student beds on the corner of Canal Reach and York Way and is adjacent to another student housing development by Host and residential schemes known as Roseberry Mansions (40 flats) and Rubicon Court (117 flats). It is situated on Argent’s Kings Cross Estate and is a short walk from the proposed new shopping quarter “Coal Drops Yard” (to open in 2018) along with Granary Square and Kings Boulevard. Existing local restaurant and bar operators include Dishoom, The Lighterman, Caravan, The Greek Larder and Grain Store.
ACCOMMODATIONThe property is arranged over ground floor only comprising approximately 2,755 sq ft (GIA). It is currently trading as a restaurant and benefits from being fitted out to a very high standard with full kitchen extract. The existing kitchen equipment and refrigeration units can be retained - further information available upon request. TERMSThe property is available by way of a new lease for a term and rent to be agreed – quoting terms available upon request.
PLANNINGThe property benefits from a flexible A1, A2,A3 & A4 planning consent with alcohol licence. The property currently trades as a restaurant.
RATESWe have been advised by the Local Authority that the premises are assessed for rating purposes as follows:
Rateable Value £21,500UBR (2016/17) 51.7pRates Payable £11,116 pa
The draft 2017 rateable value is £31,500. Prospective tenants are advised to confirm any rating liability directly with the Local Authority. EPCAn Energy Performance Certificate for the property is available upon request. COSTSEach party is to bear its own legal and surveyor’s costs incurred in the transaction.
LOCATION
Shopping Centre.
of retail space and other nearby retailers
Massimo Dutti, The White Company and
ACCOMMODATIONThe premises are arranged over ground,
the following approximate dimensions and
Internal Width 24.6 ft 7.5 mShop Depth 80 ft 24.4 mGround Floor Sales 2,123 sq ft 197 sq mMezzanine Sales 329 sq ft 30.6 sq mFirst Floor Sales 3,926 sq ft 364.7 sq mFirst Floor Storage 1,000 sq ft 92.9 sq mTotal Floor Area 7,378 sq ft 685 sq m
TENUREHeld by way of a 15 year lease from 27th August 2008, with 5 yearly upward only rent reviews, expiring on 30th September 2023. The lease is contracted inside the protection of the Landlord & Tenant Act.
RENT
The current rent passing is £549,800 per annum exclusive of rates, service charge and VAT (if applicable).
CONSIDERATION
available on request.
RATESWe have been advised by the Local Authority that the premises are assessed for rating purposes as follows:
Rateable Value £218,000UBR (2016/17) 51.7pRates Payable £112,706
Transitional phasing may apply. Prospective
liability directly with the Local Authority (020 8753 6681).
COSTSEach party is to be responsible for their own legal and all other professional costs incurred in the transaction.
CONTACT US
Appointments to view must be arranged via sole agents Colliers International, through:
Peter Flint+44 20 7344 [email protected] Bobby Blake+44 20 7487 [email protected]
COLLIERS INTERNATIONAL50 George StreetLondon W1U 7GA+44 20 7935 4499
colliers.com/uk/retail
Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part
of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property.
Colliers International is the licensed trading name of Colliers International Retail UK LLP which is a limited liability partnership registered in England and Wales with registered
CONTACT US All appointments to view must be arranged via sole agents Colliers International, through:
Peter Flint+44 20 7344 [email protected]
Kit Alexander+44 20 7344 [email protected]
COLLIERS INTERNATIONAL 50 George Street London W1U 7GA +44 20 7935 4499
colliers.com/uk/retail
URBANEST, KINGS CROSS
CANAL REACH
