Commercial / Sale
1,805 Sq Ft
120 Union Street, London, SE1 0FR
SE1 0FR
Overview
Restaurant Investment For Sale of Interest To Investors
The premises comprise a restaurant unit arranged over ground and mezzanine floors, situated within a modern corner development.
The restaurant is accessed via a double height ground floor entrance hall, which has recently been refurbished. The ground floor provides a kitchen, bar and seating area, with the mezzanine providing additional seating, preparation area, cold store, and WC's.
The restaurant is accessed via a double height ground floor entrance hall, which has recently been refurbished. The ground floor provides a kitchen, bar and seating area, with the mezzanine providing additional seating, preparation area, cold store, and WC's.
Situated in the heart of one of London's most dynamic neighbourhoods. The property offers unparalleled access to a vibrant array of local amenities, including local bars and restaurants such as Caravan, Brix, Mc & Sons, Itsu together with luxury hotels such as Hilton London Bankside, Hoxton Southwark, Sea Containers and ctizenM Bankside.
The area is well served by a host of cultural amenities, museums, theatres including Tate Modern, Globe Theatre and the iconic Borough Market.
The premises are well served by transport links including London Bridge Mainline and Underground Stations (0.6 miles), Southwark Underground Station (0.3 miles) and Blackfriars Mainline and Underground Stations (0.7 miles).
The area is well served by a host of cultural amenities, museums, theatres including Tate Modern, Globe Theatre and the iconic Borough Market.
The premises are well served by transport links including London Bridge Mainline and Underground Stations (0.6 miles), Southwark Underground Station (0.3 miles) and Blackfriars Mainline and Underground Stations (0.7 miles).
Executive Summary
Virtual freehold restaurant investment for sale.
Situated on the Southbank in an amenity rich environment.
1 minute walk from BP's new headquarters at Timber Square.
Single let to Cowest Ltd, trading as Union Viet Restaurant & Café www.unionviet.com.
The premises are let at a rent of £48,000 per annum, subject to a minimum fixed uplift to £55,000 per annum in May 2027 and an open market review on the 18th May 2030. Rent will be topped up from completion.
In excess of nine years of income, without break.
The premises are elected for VAT. It is anticipated that the transfer will be treated as a Transfer of Going Concern (TOGC).
The Vendors are seeking offers of £582,000 for the long leasehold interest, reflecting a cap value of £322 per sq ft and an initial yield of 9%, subject to the rent being topped up.
1 minute walk from BP's new global headquarters in Timber Square.
Situated on the Southbank in an amenity rich environment.
1 minute walk from BP's new headquarters at Timber Square.
Single let to Cowest Ltd, trading as Union Viet Restaurant & Café www.unionviet.com.
The premises are let at a rent of £48,000 per annum, subject to a minimum fixed uplift to £55,000 per annum in May 2027 and an open market review on the 18th May 2030. Rent will be topped up from completion.
In excess of nine years of income, without break.
The premises are elected for VAT. It is anticipated that the transfer will be treated as a Transfer of Going Concern (TOGC).
The Vendors are seeking offers of £582,000 for the long leasehold interest, reflecting a cap value of £322 per sq ft and an initial yield of 9%, subject to the rent being topped up.
1 minute walk from BP's new global headquarters in Timber Square.
Accommodation
| Floor | Availability | Area (sq ft) | |
|---|---|---|---|
| Ground Floor | Available | 928 | |
| Mezzanine | Available | 877 | |
| Total | TODO | ||
Details
| Type | Commercial |
| Rates | The premises are rated as restaurant and premises and have a 2026 RV of £53,000 per annum. |
| Sale Price | The Vendors are seeking offers of £582,000 for the long leasehold interest, reflecting a cap value of £322 per sq ft and an initial yield of 9%, subject to the rent being topped up. |
| Tenure | Virtual Freehold |
