Watermans, 12 Water Lane

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Key Points

Summary

Prime freehold restaurant and bar investment for sale in affluent south west London location

Description

The property comprises a three storey end of terrace building which is of brick construction beneath a pitched tiled roof.

Externally there is a small terrace to one side of the building which can accommodate seating for 10 covers.

Additional customer seating for 12 covers is provided to the front of the property by way of a pavement licence from the local authority on land which falls outside of our clients ownership.

Ground Floor – Two separate trading areas providing 28 covers, central bar servery and customer toilets.

Basement – Cellar and stores.

First - Private dining room for 14 covers and trade kitchen.

Second – Manager’s accommodation comprising two bedrooms, living room, bathrooms with separate WC and ancillary storage.

Location

Located in the centre of Richmond Upon Thames fronting Water Lane close to it’s junction with the A307 Hill Street and within 125m of the River Thames.

The Watermans is located within the heart of the town centre close to a number of other high profile bars, restaurants and retailers with occupiers nearby including the Ivy Café, Scott’s, the Curzon Cinema, Wagamama, Cos and LK Bennett. Richmond Upon Thames Railway and London Underground Stations are both within 600 metres of the property.

Planning

The property is not listed but does fall within the Richmond Riverside conservation area.

EPC

C-75

Tenure

The property is held freehold.

Tenancy

The property is let to Water Angel Limited (subject to a personal guarantee) on a three year rolling tenancy agreement expiring on 3rd November 2025 at a current rent of £41,500 per annum. The agreement is subject to annual RPI linked increases (uncapped) on 1st April each year and the tenant is obliged to purchase beer from the landlord, or the landlord is able to release this tie and trigger a “free of tie” rent review.

Terms & Viewing

Our clients are inviting offers in the region of £1 million for the property which will be sold subject to and with the benefit of the existing tenancy. A purchase at this level reflects a low capital value per square foot of £323 per square foot. VAT, if applicable, will be payable in addition to the purchase price.

Please note that all viewings must be made by prior appointment and under no circumstances should any approach be made to any of the tenants staff.

If you require any further information then please do not hesitate to contact.