The Duke of Richmond

Description

The Duke of Richmond, located at 316 Queensbridge Road, Hackney, London, E8 3NH, is a well-established neighborhood pub and restaurant known for its modern European cuisine made from British seasonal produce. The property features a cozy pub area, an elegant dining space, and an outdoor seating area for al fresco dining. It also includes a dedicated event space for private functions. Positioned at a prime corner location with excellent public transport links and surrounded by local amenities, The Duke of Richmond benefits from a local vibrant community, making it an attractive leasehold opportunity.

Location

Situated at 316 Queensbridge Road, Hackney, London, E8 3NH, The Duke of Richmond is a notable neighborhood pub and restaurant occupying a prime corner location at the intersection of Queensbridge Road and Richmond Road. This establishment is offers both indoor and outdoor seating areas and the location boasts excellent public transport links and proximity to local amenities and green spaces, making it a highly visible and accessible venue within a vibrant and culturally rich community.

Internal Details

- Open plan trade area with bar servery - 70 Internal covers - Open Kitchen - W.C's - Basement includes a dark kitchen, pot wash area, office, staff toilet, storage and a cellar

Fixtures & Fittings

Trade fixtures and fittings in the property are included in the sale.

External Details

Covered and heated seating for up to 30 guests in front of the pub.

The Opportunity

There is a fantastic opportunity for an experienced restaurant operator, to either carry on the existing food offer or establish a brand new concept in this property. A commercially focussed operator will drive repeat business by offering a fantastic menu and service, maxmise the opening hours and make full use of the dark kitchen.

Staff

The proposed purchaser will be required to offer continuity of employment in accordance with the Transfer of Undertakings (Protection of Employment) Regulations. Prospective purchasers should complete their own enquiries and due diligence to satisfy themselves as to the rights, contracts and obligations that may run with the property and business, and also the registrations, licences, permits and certificates required to trade.

Trading Information

Trading information provided shows that as of September 2024, the business generated an annual turnover of just over £625k net of VAT. Full Trading Profit and Loss Accounts will be made available to seriously interested parties on request after a formal viewing of the business has been undertaken.

Trading Hours

The opening hours of the premises are as follows: Monday to Tuesday: Closed Wednesday to Thursday: 17:00 - 23:00 Friday to Saturday 12:00 - 23:30 Sunday 12:00 - 23:00 Licensable activities authorised by the licence - late night refreshment and supply of alcohol. Licensed opening hours: Sunday to Wednesday – 10:00 to 11:30 Thursday to Saturday – 10:00 to 00:30

Tenure

The property is offered on a new, fully repairing and insuring lease, contracted in to the landlord and tenant act 1954, for a term of 20 years. The annual rent is to be £67,500 per annum and will be subject to 5 yearly reviews. A 3-6 month rent deposit and personal guarantees are sought by the landlord.

Business Rates

The VOA lists the property as a restaurant and premises with a rateable value of £34,500 from April 2023. The local authority is Hackney Council.