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£165,000 Guide Price
Galaxy Real Estate are excited to offer the market this exceptional leasehold commercial premises currently operating as Jasmine Lounge, a popular venue-for-hire suitable for a wide range of private and corporate events. The property offers a contemporary, high-quality interior finish and is well-situated on the busy Field End Road in the heart of Eastcote.
The venue is ideal for hosting birthday parties, engagement celebrations, wedding receptions, baby showers, corporate functions, themed events, and private dining experiences.
Accommodation:
The premises comprise a well-presented and fully equipped entertainment space featuring:
A stylish bar counter and DJ booth
Dance floor and dedicated office area
Two ladies WCs, one gents WC with two urinals, and a large accessible WC
Small kitchen (for owner/staff use only)
The unit has been refurbished to a high modern standard, offering a vibrant and inviting atmosphere suitable for immediate operation or conversion to other commercial uses (such as a full-service restaurant or bar, subject to obtaining the necessary consents and licences).
Licensing & Opening Hours:
The premises benefits from an existing entertainment licence permitting:
Performance of live music
Playing of recorded music
Performance of dance
Entertainment of a similar description
Permitted opening hours:
Sunday: 10:00 00:00
Monday to Thursday: 10:00 00:30
Friday & Saturday: 10:00 01:30
Lease Details:
Lease term: Approximately 20 years remaining
Rent: 27,500 per annum
Rent review: Every 5 years
Additional Income:
The current leaseholder also holds the residential upper parts under a separate 3-year agreement at 20,000 per annum. The upper floors have been converted into two 2-bedroom flats, generating an income of approximately 30,000 per annum, resulting in a 10,000 annual profit from the residential element.
Business Potential:
This attractive and well-maintained property offers excellent versatility it is perfectly suited for continued use as an event venue, cocktail bar, or night lounge, while also providing significant potential for conversion into a full-scale restaurant, shisha lounge, or caf, subject to planning and licensing approval.
Map location is not available for this property.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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