KENT - IMMACULATE 2,182 SQ FT RESTAURANT

A unique opportunity to lease a former naval building, superbly renovated and converted into an open plan restaurant.

Powder & Magazine is situated in the village of Lower Upnor, a charming village on the western bank of the River Medway in Kent. The village holds historic significance due to its strategical position at the bottle neck of the River Medway and is formed around a naval and military background. Modern day Lower Upnor is predominately residential, supported by a range of local amenities including pubs, church, climbing centre and Medway Yacht Club. Upnor Castle is the main tourist attraction located a short walk from the subject property.

The areas lies a short distance north east of the M2 at junction 1, connected by the A289 dual carriageway. Lower Upnor can also be accessed via the Medway Tunnel connecting the village to the larger Medway towns of Chatham, Rochester and Gillingham. Main line railway services are available from nearby Chatham Station with Southeastern services to Faversham, London Victoria (via Bromley South) and London St Pancras (via HS1 services). Local services are also available from Strood to Maidstone West, Gravesend and Ramsgate.

Powder & Magazine occupies a unique former Ministry of Defence mine store, situated in a former Ordnance Yard. It is understood that during World War II the building was used for filling mines with gunpowder before loading back onto naval vessels. The property itself is a single storey brick built unit under a slate roof and is surrounded by other historic buildings of note including former torpedo stores and bomb shelters. It has been lovingly and extensively renovated and converted into the superbly presented restaurant that we see today. The property is ready to trade and is presented to a turnkey standard. The property comprises of approximately 2,182 square foot (GIA).

TRADE AREAS
Entrance from front of property via lobby directly into open plan ground floor RESTAURANT AREA. This eye catching trade space boasts vaulted ceilings with original mine hoist, exposed steels and exposed brickwork. Located to one corner of the restaurant there is a wood built bar servery which houses two double drinks fridges, Epos till system, coffee machine, coffee grinder and glass washer. The restaurant boasts a range of modern facilities including CCTV, Sonos sound system, underfloor heating and industrial style lighting. This area is currently configured to provide seating for 58 however this could be increased if desired. Offset is a waiter area with wine chiller as well as a DISABLED WC with baby changing facilities.

Ascending a metal staircase is access to the second RESTAURANT AREA at mezzanine level. This trade space provides views over the ground floor restaurant and provides seating for 28. The mezzanine is often used for private dining or to house events.

Offset are two UNISEX WC’s, STAFF CHANGING and WC and an OFFICE.

Leading to the rear of the property at ground floor level there is access to a superbly presented TRADE KITCHEN well equipped with UPVC clad walling, non slip flooring, dish washer, racking, under counter fridges, upright fridge, extractor, rational oven, six burner range cooker, chargrill, double deep fat fryer and hot lamps.

Leading from the rear of the kitchen there is a further PREP AREA which houses a microwave, three upright fridges and glass washer. Offset is a DRY STORE.

EXTERNAL
To the front of the property there is a popular TERRACED AREA which provides seating for 18.

Also to the front of the property there is a large shared CAR PARK with space for in excess of 22 vehicles.

To the rear of the property there is a rear TRADE YARD with shed storage and walk-in fridge. We are of the opinion that this area could well be part covered to provide for a wood fired pizza oven (subject to planning).

Also to the rear there is a decked PATIO AREA which provides seating for 28.

The business is currently closed. However, has most recently traded as a British and European restaurant catering for local residents, residents of the Medway towns and local businesses. No trade is sold or warranted. Trade accounts are unavailable. Any prospective purchasers must make their own assumptions as to potential trade level given due regard to the location and size of the premises.

We are of the opinion that the business would well suit a range of cuisines including British, Italian, French, Greek, Turkish, Thai, Chinese or Indian.

A new owner would be prudent to initiate an extensive marketing campaign in order to draw in trade from the ever expanding Medway, Gravesham and Maidstone areas.

LEASEHOLD OFFERS INVITED
Fixtures & Fittings: For sale or rental by negotiation.

A new free-of-tie lease agreement is available as below:
- Fully repairing and insuring lease agreement
- For a term up to 7 years
- Inside Part II Landlord & Tenant Act 1954
- 3 month rental deposit in advance, plus personal guarantors if the lease were taken as a Limited Company, or alternatively a higher rental deposit figure between 6 and 12 months
- Annual rent £30,000
- Rent paid monthly or quarterly in advance
- Subject to rent reviews of a frequency to be agreed dependant on the length of term
- Suitable insurance to be in place prior to exchange of contracts

An incoming party will be required to demonstrate sufficient funds to sustain their business model, and will need to demonstrate ingoing capital to cover the premium, rental deposits, stock, working capital and solicitors fees as a minimum.

No direct approach to be made to the business, with all communications directed through Sidney Phillips. Viewing strictly by appointment only.

A full Premises Licence is held.

All mains services are connected.
Business Rates currently £650 per month.