LONDON - PRIME ST. KATHERINE DOCKS UNIT

A unique and rare opportunity to acquire growing business in the heart of one of London's tourist hotspots.

The Azimut Café is situated in the historic St Katherine Docks in the heart of Central London. This former dock area has been redeveloped to create a cosmopolitan and trendy leisure and marina complex housing a vibrant range of restaurants, bars, offices and hotels. St Katherine Docks lies a mere stones throw from the Tower of London and Tower Bridge and is a short distance from other attractions including the Bank of England, the Monument and HMS Belfast. The Dock is a well utilised stop-off for those exploring passing destinations of Shoreditch, Southbank and the West End, enjoying 5.18 million visitors a year.

St Katherine Docks is a short walk from London Underground services on the Central and District lines at Tower Hill, as well DLR services from Tower Gateway.

The Azimut Café occupies a unique waterside property known as the Coronarium, erected in 1977 as a memorial to the Jubilee and visit by Queen Elizabeth II. The property has been superbly maintained and is well known as one of the most eye catching buildings in the area, visible from all sides of St Katherine Docks.

TRADE AREAS
Entrance from Cloisters Walk into ground floor BAR & RESTAURANT AREA. The bar is presented in a modern manner with views over the docks and incorporates strip wood flooring and a marble top bar servery (housing three wine fridges, two double drinks fridges, coffee machine and cocktail station). The bar provides seating for 14. Offset is a FOOD PREP/KITCHEN AREA.

Ascending to the first floor there is MEZZANINE SEATING for 30 to 40 patrons, with 360 views of the neighbouring yachts and converted dock buildings.

The trade areas measure in the region of 81 square metres.

EXTERNAL
To the side of the property there is a waterside terrace which provides seating for 80 to 150 under two jumbrellas.

The Azimut Café was established in June 2021 and has become a popular lunch time and evening venue serving the needs of tourists and residents, as well as office workers from 4.00 pm. The concept delivers high end wines, spirits and cocktails coupled with charcuterie boards and tapas. The venue is a cool and sophisticated lounge with a bubbling atmosphere. The business is often hired for private bookings and corporate events.

The most recent five month trading figures show a net turnover in the region of £125,000, expected to increase to a net turnover in the region of £450,000 over a full twelve month period. Further accounting detail can be made available to serious parties following a full viewing.

We are of the opinion that a new operator could further develop this constantly growing business by opening on Mondays and Tuesdays (an avenue which has yet to be fully exploited) and by further utilising social media and online advertising.

The business is very much in its infancy and the trade accounts are yet to show its full potential.

LEASEHOLD £195,000 to include fixtures, fittings and goodwill. Stock at valuation in addition. 

The Azimut Café is held on a part repairing and insuring lease agreement from St Katherine Docks for a term of ten years from June 2021, extendable in five yearly increments. The property is currently enjoying a rent free period until April 2023, when annual rent then stands at £60,000 per annum for three years, £75,000 per annum thereafter. Tenant only break clause at year five. The lease falls within the security provisions of Landlord & Tenant Act 1954. The lease is free of all trade ties.

No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.

A full Premises Licence is held permitting the sale of alcohol by retail Monday to Sunday 11:00—21:30.

All mains services are connected.
Local Authority: London Borough of Tower Hamlets.