This property is no longer on the market
Restaurant
Property description & features
- Tenure: Freehold
- A Substantial Corner Building Arranged to Provide a Restaurant Fully Let Currently Producing £120,000 Per Annum
*For Sale By Online PublicAuction 25th May 2022 09:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A Substantial Corner Building Arranged to Provide a Restaurant Fully Let Currently Producing £120,000 Per Annum
Tenure
Freehold
Description
Substantial recently refurbished two storey restaurant trading as Istanbul Restaurant, prominently situated at the corner of Yorkshire Street and St Mary's Way in the centre of Oldham. Nearby occupiers include Odeon Cinema, Coliseum Theatre and The Spindles Shopping Centre.
The property has recently been refurbished at a cost of over £500,000.
Accommodation
The following floor areas have been taken from VOA: -
Ground Floor Restaurant and ancillary 691.52 m2 / 7,444 sq.ft.
First Floor Restaurant and ancillary 654.81 m2 / 7,048 sq.ft.
Tenancy
The whole property is let to Istanbul Restaurant Ltd (Co. No. 13870896) by way of a 6 year lease from January 2022 at a rental of £120,000 pa. the lease incorporates a rent review after 18 months.
The tenant has paid a rental deposit of £20,000.
The Istanbul Restaurant Group specialise in Turkish cuisine. Their first restaurant opened in Manchester prior the pandemic have continued to expand their brand now trading from outlets in Derby, Nottingham and Oldham.
Their latest restaurant in Blackburn is scheduled to open in June 2022.
Note
Sold Prior
Addendum
Sold Prior
Places of interest
See more properties like this:
*DISCLAIMER
Property reference 171884. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Auction House London - Hampstead.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.