RESIDENTIAL & COMMERCIAL PROPERTIES

RESTAURANT - LEASE FOR SALE

Restaurant, Notting Hill, London, W11

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RESTAURANT LEASE FOR SALE

Address: Notting Hill, W11.
Demise: GF & Basement restaurant.
Lessor: UK LTD.
Inside/Outside Act: Inside.
Lease term: 15 years. The new lease term is to take effect from 29th September 2016, or completion, whichever is the earlier.
Rent: £ 50,000.00 (fifty thousand per annum). Interim rent will be at the level of £ 50,000.00 per annum exclusive.
Variation to rent deposit deed: The landlords will accept a variation to the existing rent deposit deed, whereby 6 months rent is to be held on deposit, in place of 12 months.
Rent review: 5 yearly upwards only.
Tenant only break option: There is to be a tenant’s only break at the expiration of the tenth year of the term, subject to a minimum of 6 months prior written notice.
All others term: as per expiring lease.
25th December 2014 rent review: The landlord agrees to settle the 25th December 2014 rent review at the rent of 50,000.00 per annum exclusive. As part of that agreement, the landlord will accept a variation to the rent deposit deed whereby 6 months rent is to be held on deposit in place of 12 months.
NOTE: The agreement to settle each transaction is totally dependent on settlement of the other- in other words, the landlord’s agreement to settle the rent review and lease renewal are inextricably linked with, and dependent upon each other.
PREMIUM: £ 120,000.00

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