Property Description
Thekaa is situated on Watford's busy high street parade. Surrounded by a number of well-known high street bars and nightclubs, Thekaa puts itself above the rest by being the premium, independent venue. Local demographics are a broad range due to the attraction of the high street shops, restaurants, bars and entertainment venues.
Being on the high street there are a number of reasons for people to go to Thekaa but the large shopping centre is at the other end of the High Street and Watford Football Ground is less than a mile away. The paved area outside the venue has 2 large events a year which is a great footfall driver.
Currently operating as a late evening cocktail and wine venue that shows music/movies at weekends. Small food offer of Pizzas and smaller plates. No machines or sports due to the venue type.
Thekaa needs to be a chameleon style venue that offers coffees and pastries in morning for commuters and workers/hot desks. Need to have a unique high quality food offer to compete with the likes of The Florist and chain bar/restaurants. Lunch time bottomless brunches at weekends with great events, movie nights, comedy nights. Needs to have a real Unique Selling Point.
Thekaa has a great open drinking and dining space with a secret covered courtyard. A large/oversized open fire with multiple years worth of melted candle wax covering to bring a rustic and classic feel.
None
Please see Premises Licence
Agreement Type
Foundation Tenancy
Property Financials
Additional Information
In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs are not included in the rent model or ongoing costs below.
Note that on FRI Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased.
A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors.
The above figures are provided as a guide only and will be finalised as part of the commercial agreement
* All figures quoted are exclusive of VAT
** Deposit build up will be payable over a maximum of 24 months
*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry
**** Maintenance Compliance Charge relates to the fees for various statutory inspections
***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate
* The above figures are provided as a guide only and will be finalised as part of the commercial agreement.
** All figures quoted are exclusive of VAT
The above figures are provided as a guide only and will be finalised as part of the commercial agreement.
All figures quoted are exclusive of VAT
The above figures are provided as a guide only and will be finalised as part of the commercial agreement. All figures quoted are exclusive of VAT.
Estimated Working Capital is an estimate of key start-up costs such as professional fees, training fee, premises license fee, F&F valuation fee & till floats. There will be additional ongoing charges payable during the term of the agreement such as property maintenance, repairs fund, SmartDispense. These costs will be outlined prior to completing a business plan and finalised at Heads of Terms.
The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs should be included in your financial assumptions in your business plan. Note that on FRI and Investment Tenancy Agreements deposits will always be 3 month's rent in advance and fixtures and fittings (F&F) must always be purchased. A deposit of 6 month's rent will be required for operators trading under a Limited Company with no Guarantors. In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.
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