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Giggling Squid

4 / 6 Howardsgate, Welwyn Garden City, AL8 6BQ

Summary

• LOCATION
  WELWYN GARDEN CITY
• SECTOR
  LEISURE
• SIZE
  3,744 SQ FT (GIA)
• TENURE
  EFFECTIVE FREEHOLD
• TENANT
  GIGGLING SQUID
• TERM
  20 YEARS
• TERM CERTAIN
  15 YEARS
• PASSING RENT
  £75,000 PER ANNUM
• PRICE
  £1.23 MILLION
• NIY
  5.75%

More Information

• LOCATION HIGHLIGHT

  Located in a highly prominent trading location on Howardsgate, the prime retail, restaurant and leisure pitch within Welwyn Garden City. Welwyn is an affluent London commuter town, located 22 miles north of Central London.

• PROPERTY HIGHLIGHT

  We understand the Property comprises 3,744 sq ft (347.82 sq m) GIA. Internally the Property benefits from approximately 119 covers. A licence has been granted for 45 external covers, which is understood to be the largest external seating offer of any restaurant operator in Welwyn.

• TENANCY HIGHLIGHT

  Let to Chockdee Limited (t/a Giggling Squid) on a new 20 year lease (TBO year 15) paying £75,000 per annum. The rent is subject to five-yearly upwards only open market rent reviews. The tenant only received a 5 month rent free incentive.

• COVENANT HIGHLIGHT

  Giggling Squid is the nations leading Thai restauranteur. The company boasts a CreditSafe score of A-87 and a turnover of £33.89 million (£3.99 million pre-tax profit).

Gallery

PRIME SOUTH EAST LONG INCOME RESTAURANT OPPORTUNITY

ADS RE Ltd (ADS RE) on its own behalf and on behalf of the vendors / lessors of the properties whose agent ADS RE is, gives notice that:1 (a) All particulars provided are given as a general outline only for the guidance of the intending purchaser, lessee or tenant, and do not constitute in whole or in part, an offer of contract for sale or lease; (b) Whilst all particulars of properties given including but not limited to descriptions, dimensions, references to condition and necessary permissions for use and occupation and maps are believed to be correct and are given in good faith, they are however given without responsibility. None of the statements contained in these particulars as to the property are to be relied upon as statements or representations of fact; (c) The vendor / lessor does not make or give, and neither ADS RE nor any of its members or any person in its employment has any authority to make or give any representation or warranty whatsoever in relation to any properties. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor / lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor / lessor and a purchaser or tenant. 2 Prospective purchasers / lessees or tenants should not rely on any particulars provided and are strongly advised to; (a) Satisfy themselves by inspection or otherwise as to the correctness of each statement contained in these particulars; (b) Inspect the property and the neighbouring area; ensure that any items expressed to be included are available and in working order; (c) Arrange a full measured, structural (and where appropriate environmental) survey of the property; and (d) Carry out all necessary searches and enquiries. May 2022