*Freehold Commercial Investment plus Ground Rent Income*
The investment includes a substantial 90-cover restaurant (Porters Steakhouse) which recently underwent a c. £250,000 fit-out, is extremely well-presented throughout and is highly rated in online reviews. It features a bar, air-conditioning, dry-aging meat fridge, commercial kitchen, customer WCs (in basement) plus disabled access WC on ground floor. In addition, there is Porters Wine & Charcuterie, an attractive bar providing 34 covers offering a selection of wines from around the world as well as plates of UK-produced charcuterie and cheeses. It is a busy and popular venue and has excellent online reviews. Table service is possible for both premises on the pavement fronting Queens Terrace and the premises are licensed for alcohol sales from midday to midnight daily.
The upper floors were re-developed into 30 individual residential units, each one being sold with a 150-year lease from 2006. Occupiers currently contribute £150 pa ground rent, which is subject to an index-linked review every 25 years, the next one falling in 2031.