453 Warrington Road, Culcheth, Warrington WA3 5SJ

  • 3758 sq ft
Restaurant
£625,000

Restaurant Investment

Location

The property is prominently situated fronting Warrington Road (A754) within Culcheth Village Centre.

Warrington Road links Leigh (9.5km to the north) to Warrington (13km to the south west). Access to the motorway network is at Junction 11 of the M62 (6km) and Junction 21 of the M6 (10km) and the East Lancashire Road intersects with Warrington Road within 6.5km. Culcheth has a population of over 11,000 and forms a good quality residential area, popular due to transport links.

Description

A rare opportunity has become available to acquire a restaurant investment in a busy area within Cheshire.

The property forms a two storey detached building with parking, fitted out as a high quality restaurant to the ground floor. There is a separately accessed first floor, currently utilised by the tenant as offices but fitted out as an apartment.

There are two principal restaurant areas, one with a fitted bar and further seating to a forecourt area.

A car park is located to the rear of the property with sufficient parking space for staff, with further off road parking nearby for customers.

Accommodation 

The property has the following net internal areas measured in accordance with the RICS code of measuring practice.

Ground Floor   274.9 m²     2958 ft²

The upstairs accommodation was not available for inspection when we visited the premises, we understand it to be approximately 800 ft²

 Proposal 

We are instructed to ask £625,000 exclusive of VAT showing a net initial yield of 6.24%

VAT

The property has been elected for VAT but consideration would be given to a Transfer of Going Concern.

Tenure

Freehold held under Title Number CH446027

Tenancy

The current tenants The Pit Smokehouse Limited (company no. 09205833) will lease the premises for a 10 year term on FR&I basis at a rent of £42,000 per annum, subject to an upwards only rent review after 5 years.

Tenant Covenant

The Pit Smokehouse Limited was incorporated in 2014 when they extensively fitted out the premises. A new 10 year lease is being granted to that company to secure the trading success they have achieved since 2014. The lease is guaranteed by the directors of the company.

Services 

All services are connected.

Contact 

Malcolm Morgan: MMorgan@morganwilliams.com

Callum Morgan: CMorgan@morganwilliams.com

 Brochure

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Contact Information:

Morgan Williams

Mobile: 01925 414909 Fax: 01925 637619

720 Mandarin Court, Centre Park, Warrington, WA1 1GG