City Centre Basement Bar & Restaurant, 85 Watergate Street, Chester, CH1 2LF

Property Details: • Type: Ask agent • Tenure: N/A • Floor Area: N/A

Key Features: • Vacant city centre restaurant & bar • Lounge bar (40) Dining restaurant (75) • Gross Internal area 330sqm (3550 sq ft) • Fully refurbished 2022. Licence 8am - 3am • 25 year free of tie lease to 2046 • Ideally located to the "Roodee" Chester racecourse. Energy Rating B • Christie & Co Ref: 5652064

Location: • Nearest Station: Chester Station • Distance to Station: 0.8 miles

Agent Information: • Address: Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

Full Description: DescriptionOccupying the lower ground/basement of Chester's historic Watergate House, a Grade II Listed Georgian dwelling of colour rendered brick elevations beneath a pitched tiled roofline.The property has been lavishly restored whilst retaining a number of original period style features to include; open-grate fireplaces, sash and brick bow windows, cast iron columns within cosy intimate vaulted ceiling rooms.LocationThe property is ideally located within the basement of Watergate House at the intersection of Watergate Street and Nicholas Street Mews, within 5 minutes walk of either Roodee Chester Racecourse or the city centre's main licensed and hospitality circuit.Internal DetailsLounge/local's bar (40), served by corner mounted wooden bar servery, tiled flooring, original cast iron fire feature open to dual zone open-plan dining restaurant (75) with exposed wooden flooring. Fresh redecoration throughout. Overall gross internal area of some 330 sqm.Fixtures & FittingsAll fixtures and fittings are to be included within the sale however, any items that are owned by a third party or personal to our clients will be exempt.Ancillary AreasComprehensively fitted trade induction kitchen with adjacent pot wash area, staff room, manager’s office, beer cellar and cellar drop, large cold store and dry goods store. Services and appliances newly fitted in 2022 to a very high specification.The OpportunityIdeally located free of tie lease offered with vacant possession attractive rent of £21,000 a year.Trading InformationAnnualised 12 month management figures showed a net turnover of £685,000 with a gross profit margin of 71% achieved.Trading HoursThe property has a licence from 8am - 3am 7 days a week.TenureLeasehold. 25 year free of tie lease to 2046 with an annual passing rent of £21,000 per annum with 4 yearly reviews, subject to inflation only.Business RatesThe Rateable Value is £36,250 with effect from April 2024. Confirmation of actual business rates payable should be obtained from the local authority.RegulatoryThe business has a licence to serve alcohol 08:00 - 03:00 7 days a weekEnergy Performance CertificatesEPC 1