Restaurant premises Cleveland Street Wolverhampton- Ideal also as Costa/Starbucks

Description

The restaurant former 'La Bunica' is located in the city centre in the Newall Palmer building by the new Casino 36 development and a short walk from the Wulfrun Centre, train, bus and metro stations.

Description
Ground floor lock-up restaurant for approximately 70 covers with kitchen area, extraction canopy and walk-in fridge/freezer.

The premises has its own gas, electric and water supply, staff and customer toilet facilities.

39 car parking spaces available to the rear, evenings and weekends.

Accommodation
(Approximate internal area)

1835 sq.ft

Customer car parking is available, evenings and weekends.

Business Rates
Rateable Value: £9,300.00
Service Charge £ 2.50 Per sq.ft
Insurance approx £200 to £400 Per annum To be confirmed.

Rent is Reviewed every 3 years.


Interested parties are advised to make their own enquiries with the local rating authority to verify the above. Small business rates relief may be applicable.

Service Charges
Service charge capped at £2.50 per sq/ft for the first 5 years. However, the actual services charged to tenants is based on actual annual spend on the building overall, on an annual basis via a breakdown from the landlord of service charge costs.
The ground floor has 5,053 sq/ft overall, of which Units 3&4 the Restaurant is 2,085 sq/ft, based on past leases (ie 2,085 sq /ft /14,400 sq/ft = 14.48% of the building) , with the service charge capped at £2.50 per sq/ft for the first 5 years. the actual services charged to tenants is based on actual annual spend on the building overall, on an annual basis via a breakdown from the landlord of service charge costs.
It is estimated that the cost of servicing t he common areas of the building are currently £18,050 for 2023, in which case that comes to £217/month

The Insurance Rent = 14.48% of the cost of Insurance of the building, normally reviewed in January each year and last year was £4,200 for the policy overall, of which the tenant would pay £50.68.

Upfront costs
Rent & Service charge & Insurance
Deposit £1500
Commercial application fees £1500
Lease preparation fee £550
Refundable £100 Utility Deposit-Terms and conditions apply

Ad ID: 1448871925