Restaurant For Sale
Premium offers are invited for the fully fitted leasehold interest, or the fixtures and fittings in isolation.
Temple of Foo, 34 Old Bailey, London, EC4M 7AU
Hilco Global Real Estate Advisory are instructed to dispose of Temple of Foo at 34 Old Bailey, London. The Eastern/Taproom themed leasehold restaurant of 5,251 sq ft has 165 covers with an additional external area of 26 covers. Premium offers are invited for the fully fitted leasehold interest, or the fixtures and fittings in isolation.
Situated on the western side of Old Bailey, just off Ludgate Hill, and adjacent to Paternoster Chop House and Coco di Mama. The unit comprises part of the ground floor of Two New Ludgate, a Land Securities development laid out over 10 floors comprising c. 390,000 sq ft of office and retail accommodation (including One New Ludgate).
A ground floor unit benefiting from a side return with full height glazed external elevations. Internally there is an island bar to the centre, various seating booths, with a raised dining area and the kitchen/stores to the rear. Large spray painted wall murals compliment the Temple of Foo concept of Eastern stylings and the authentic tap room experience. There are a total of 164 covers, along with an external seating area to the front with 26 covers.
We measure the accommodation to comprise the following approximate GIA:
The demise is held by way of a full repairing and insuring 15 year lease expiring in 2030, at a passing rent of £225,000 pa, with rent reviews every 5 years. Provisions of Sections 24-28 of the 1954 Act are excluded.
The key assets include the fully equipped commercial kitchen, numerous refrigeration units, the purpose built bar, restaurant and bar fixtures and furniture, and the audio visual equipment including integrated zonal sound system.
EPC Rating: B 42
Rateable value – £180,000
Rates Payable 2021/22 – £92,160
The premises have a license for alcohol sales, and opening times as follows:
Sunday: 10.00 – 00.00
Monday to Wednesday 10.00 – 02.00
Thursday to Saturday: 10.00 – 03.00
Each party is to bear their own legal costs.
Premium offers are invited for the fully fitted leasehold interest, or the fixtures and fittings in isolation.
Strictly to be arranged via the sole agents, Hilco Global Real Estate Advisory.
Further information is available via the sole agents, Hilco Global Real Estate Advisory.
Misrepresentation Act – Hilco Global Real Estate Advisory is a department of Hilco Valuation Services. Hilco Valuation Services gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Hilco Valuation Services has any authority to make any representation or warranty whatsoever in relation to this property. Hilco Valuation Services is the trading name of Hilco Appraisal Limited incorporated in England and Wales with registered number 04703331. Its registered office is 11 Ironmonger Lane, London, EC2V 8EY. Subject to contract.
