Substantial City Centre Grade II Listed Restaurant
Tenants Include Zizzi Restaurants Limited until 2027 and D & F Rustique Limited t/a Nola Unti 2031 (subject to option)
2022 Break Option Not Exercised
City Centre Location Close to York Museum Gardens and York Railway Station
Total Approximate Floor Area of 580.76 sq m (6,248 sq ft)
Neighbouring Occupiers Include Pizza Express, Costa Coffee and a Stonegate Pub
Lot 25
Auction 12th July 2022
Rent £85,000 per Annum Exclusive
Status Sold Prior
Price
Sector Restaurant
Auction Venue Live Streamed Auction
Property Information
Location
Miles
19 miles east of Harrogate, 24 miles north-east of Leeds, 55 miles north-east of Manchester
Roads
A19, A59, A64, A1237, A1(M)
Rail
York Railway Station
Air
Leeds Bradford International Airport
Situation
York is an attractive and historic Cathedral City in North Yorkshire. York is a highly popular city attracting tourists from around the world with its famous minster and an eclectic mix of restaurants and medieval architecture. The property is prominently situated on the south side of Lendal, close to its junction with Museum Street (A1036) in the heart of the city centre. The locality benefits from a close proximity to York Museum Gardens, York Railway Station and York Cathedral. Neighbouring occupiers include Pizza Express, Costa Coffee, Stonegate Pub and several boutique hotels, restaurants and cafes.
Tenure
Freehold.
Location
Miles
19 miles east of Harrogate, 24 miles north-east of Leeds, 55 miles north-east of Manchester
Roads
A19, A59, A64, A1237, A1(M)
Rail
York Railway Station
Air
Leeds Bradford International Airport
Situation
York is an attractive and historic Cathedral City in North Yorkshire. York is a highly popular city attracting tourists from around the world with its famous minster and an eclectic mix of restaurants and medieval architecture. The property is prominently situated on the south side of Lendal, close to its junction with Museum Street (A1036) in the heart of the city centre. The locality benefits from a close proximity to York Museum Gardens, York Railway Station and York Cathedral. Neighbouring occupiers include Pizza Express, Costa Coffee, Stonegate Pub and several boutique hotels, restaurants and cafes.
Tenure
Freehold.
Description
The property, an attractive Grade II listed detached building comprises ground, lower ground and first floor accommodation. The property is tenanted by two separate restaurants, the larger of the two trading as Zizzi on the first, part ground and part lower ground floors. The other trading as Nola on part ground and lower ground.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, an attractive Grade II listed detached building comprises ground, lower ground and first floor accommodation. The property is tenanted by two separate restaurants, the larger of the two trading as Zizzi on the first, part ground and part lower ground floors. The other trading as Nola on part ground and lower ground.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Review/(Reversion)
2
Ground Lower Ground First
Restaurant Ancillary Restaurant/Office
166.26 37.14 205.03
(1,789) (399) (2,206)
ZIZZI RESTAURANTS LIMITED (CRN 10404211) (1)
23 years from 29/09/2004
£55,000
(28/09/2027)
2a
Ground Lower Ground
Restaurant Restaurant/Ancillary
56.90 115.40
(612) (1,242)
D &F RUSTIQUE LIMITED (CRN 06529501) (2) t/a Nola
10 years from 25/03/2021
£30,000
25/03/2026 (24/03/2031) (3)
Total Approximate Floor Area
580.76
(6,248)
£85,000
(1) For the year ending 27/06/2021 Zizzi Restaurants Limited (CRN 10404211) reported a Turnover of £871,387,000, a Pre-Tax Profit of £2,987,000 and a Net Worth of £3,972,000. (NorthRow 31/05/2022). Zizzi was established in 1999 and operate from 132 locations across the UK and Ireland. (www.zizzi.com). (2) D &F Rustique Limited (CRN 06529501) was incorporate in 2008. Nola is one of their new restaurants styled in 1920's art deco theme. (www.nolayork.com) (3) The lease provides for a tenant option to determine the lease on 25/03/2026.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
