• 40 cover restaurant with additional chef's table.

• Fully fitted Electrolux kitchen, immediately available.

• Ideal operating hours 10am to 10pm, 7 days a week.

The restaurant is located on the ground floor level of One Bayshill Road and is directly accessible from the main foyer. With 40-covers and additional chef's table seating for 8, this is a unique opportunity in Cheltenham.

Highly decorated with quartz worktops, wooden laminate flooring, a combination of recessed and pendant lighting adds to the well-thought out and stunning design, with Crittall style doors and floor to ceiling glazing along one elevation.

In terms of equipment, an operator would have immediate access to a fully fitted Electrolux kitchen, walk in refrigeration and store room with additional freezers.

There is a separate commercial refuse area as well as changing facilities and lockers. Full details on the equipment available can be provided upon request.

There is great potential with minimal start-up costs and a competitive rental package, offered to the right candidate.

EPC: To be confirmed.

Location:

With a population of around 120,000, Cheltenham is an important regional shopping location serving an extensive catchment area. The town is renowned for its range and quality of shopping and festivals which attract many visitors throughout the year.

One Bayshill Road is a hugely impressive regency style building situated in the sought after Montpellier.

It provides a unique collection of later living apartments which aims to create a close-knit community with shared spaces to encourage social interaction.

The building sits opposite the world-renowned Cheltenham Ladies' College and is less than 200m from Promenade in Cheltenham's town centre.

Accommodation:

The approximate gross internal floor area is as follows:

112.6 sq m (1,212 sq ft)

The restaurant currently provides 40 covers plus additional chef's table for 8 (bar seating).

Terms:

Available on a new initial 12-month operating agreement, with mutual break opportunities upon 3 months' notice.

Rent:

£12,000 per annum exclusive. There is no premium payable.

Deposit:

A deposit of £2,500 will be payable and held for the duration of the operating agreement.

Other outgoings:

Further information on utility and other outgoings are available upon request.

Process:

Prospective operators would be expected to prepare an initial business proposal to include concept, menu ideas and strategy before being invited to an on-site meeting with a representative of Pegasus. 

Further stages include preparing a sample menu on site before the operator agreement is issued.

As a unique additional benefit, the successful operator will be provided business and marketing support from a representative of Pegasus. There is an emphasis on working together to create a successful and sustainable partnership at One Bayshill Road.

Planning:

For use as an all-day restaurant offering, with ideal opening hours 10am to 10pm, 7 days a week. Whilst the operator would run the business as their own, it is imperative that a suitable service is provided to the onsite residents who would provide regular custom. A selection of suitable meals, costed appropriately, would need to be provided (which could be alongside a separate main menu).

Rates:

Rateable Value: £14,750 Interested parties should make their own enquiries of the billing authority (Cheltenham Borough Council) to verify the current rates payable.

Code for leasing business premises (2020):

All tenants should be aware of the Code for Leasing Business Premises and are recommended to seek professional advice relating to this, or any, commercial property letting transaction.

VAT:

VAT may be payable on the rent, or any other charges or payments detailed. All figures quoted are exclusive of VAT and intending lessees must satisfy themselves as to the VAT position by taking appropriate professional advice.

Legal costs:

Each party to bear its own legal costs incurred in the transaction.

Contact:

KBW Property Consultants 

01242 244744

enquiries@kbw.co.uk