The Terrace Restaurant, Duke of York Square, Chelsea

The Terrace Restaurant

D U K E O F YO R K S Q UA R E , C H E L S E A

T H E T E R R AC E R E STAU R A N T & BA R

A rare opportunity to acquire a beautiful and unique 3,327 sq ft restaurant, in a historic building next to the world-famous Saatchi Gallery.

Located at Duke of York Square, just off the King’s Road and a two-minute stroll from Sloane Square, the Terrace Restaurant & Bar has a valuable alcohol license and offers an all-day dining experience, with additional al fresco seating overlooking a picturesque green.

The characterful, airy space boasts original vaulted ceilings with exposed brick walls and floor-to-ceiling arched, glazed doors opening onto the external terrace.

Originally dating to 1801, Duke of York Square’s elegant, neo-classical buildings were a school for the orphaned children of soldiers.

Today, local schools still use the running track for sports events.

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An Exceptional Location Duke of York Square is home to established fashion and lifestyle brands, independent boutiques, restaurants and one of London’s best artisan Saturday food markets.

“Duke of York Square is one of London’s chicest open air retail experiences.”

C U LT U R E T R I P

Shopping and dining at Duke of York Square

Our customers voted Duke of York Square London’s top lifestyle street of the year At its heart is the iconic Saatchi Gallery, which stages world-class exhibitions, as well as supporting emerging artists.

The cultural offering is further enhanced by a year-round programme of events including Chelsea in Bloom, Strawberries & Screen, sculpture trails and pop-up activations to draw continual footfall and excitement from locals and visitors alike. dukeofyorksquare.com @dukeofyorksquare Saturday food market on the green

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Tutankhamun exhibition at the Saatchi Gallery

We have an established PR and marketing programme for the Duke of York Square and the King’s Road, aimed at continually increasing visitor numbers and spend.

Run Club at Duke of York Square

Bi-monthly print magazine ‘Sloane Square’ sent to 30,000 local residents and businesses

Instagram growth +51.5% year on year

Duke of York Square e-newsletter sent to 23,000 recipients monthly

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The Wider Neighbourhood Duke of York Square is a 2-minute walk from buzzing Sloane Square with its underground station (District & Circle Lines), Royal Court Theatre, restaurants and hotels – including the recently opened ‘One Sloane’, a collaboration between Cadogan and international hotelier Costes.

Nearby, Sloane Street - already recognised as one of the world’s finest luxury shopping destinations – is undergoing a £50 million transformation to become cleaner, greener and even more beautiful.

Epicurean excitement has been further elevated with Cadogan’s recent completion of Pavilion Road as a destination for independent artisan food, and new hospitality openings including Belmond, Beaverbrook, the first restaurant from Tuscan wine-making dynasty Antinori and upcoming concepts from Jason Atherton and the Aqua group. Chelsea is fast becoming the gastronomic go-to for those in the know.

Duke of York Square Saturday Market

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Sloane Street

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UK’s top luxury & premium shopping destination King’s Road & Knightsbridge 73% premium and luxury brands vs West End 38%,Covent Garden 32% CACI 2021

Pavilion Road

The Cadogan Hotel, Sloane Street

Chelsea & Knightsbridge under-index on F&B provision for residents and workers, with only 1:412 venues per capita (vs Soho 1:140 or Covent Garden 1:148) ONS/CBRE 2021

82% of visitors are local Javelin 2019

Sloane Square

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£198,000 Local average household income Royal Borough of Kensington & Chelsea has the largest disposable income in the UK and 4x the London average London average: £54K, UK average: £37K ONS taxpayer data 2021

14.5m

Ottolenghi Deli on Pavilion Road

£1,300

Annual footfall

(At Duke of York Square and immediate environs)

per sq ft

Average turnover of restaurants across the Cadogan Estate

(Springboard/MRI 2022)

Cadogan 2019

+15% Growth restaurant turnover (Q1-Q3 2023 vs Q1-Q3 2019)

Mural wall, King’s Road

£1.84bn Comparison spend per annum in the Chelsea area 2nd largest in London (after the West End) CACI Retail Footprint 2020

Chelsea in Bloom

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ON S

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HYDE PARK MANDARIN ORIENTAL ONE HYDE PARK

HARVEY NICHOLS

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BELMOND CADOGAN HOTEL

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V&A MUSEUM

PAVIL

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CHELSEA

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SOUTH KENSINGTON

ROYAL COURT

SLOANE SQUARE

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The Terrace Restaurant & Bar

’S G N I K DUKE OF YORK SQUARE

SAATCHI GALLERY

ROYAL HOSPITAL

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RIVER T

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The Specification Electrical Supply 3 phase 200 Amp 138 kVA

Kitchen Extract and Ventilation To be provided by landlord: • Kitchen supply and extract ductwork – 600 x 600 (internally only) To be carried out by the incoming tenant /operator: • Extracted air treatment in line with planning requirements (within first floor plant enclosure) • Internal and external noise attenuation to comply with planning requirements • Carbon and other filters internally or on roof • Acoustic enclosure and structural support if a planning requirement

Restaurant Ventilation To be carried out by the incoming tenant /operator: • Central dining area - potential location for internal fresh air unit(s) above rear double doors to rear elevation • Front dining area (including bar) – potential location for internal fresh air unit(s) above front main restaurant entrance door

Air Conditioning To be carried out by the incoming tenant /operator: • Anticipated refrigerant based heating / cooling system to comply with planning permission (that seeks approval for 6No. condensers within existing acoustic plant enclosure to roof adjacent to subject property)

Water Supply 28mm incoming

Drainage Amendments to suit accessible WC on ground floor

Gas Supply Restaurant not to operate with gas

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Planning status Planning permission is secured subject to the following conditions: Hours of Operation Planning consent for operation between the hours of 0730 – 2330hrs on any day, subject to agreement with Cadogan. Use of external dining area permitted between the hours of 0800 – 1800hrs, with an extension to 2130hrs from April – October, subject to licence and agreement with Cadogan.

Servicing There is an existing strategy as part of the wider Duke of York Square servicing: Small tractor vehicles transfer the bins to the general waste / compactor & recycling service yard.

Occupancy Planning conditions restrict total number of covers to 192, comprising a maximum of 112 internal covers and 60 external seats, with a maximum of 20 customers at the bar.

Licencing The premises benefits from a licence granted by RBKC that permits (Monday to Sunday) sales of alcohol (excluding off sales) until 2330hrs; sales of hot food & drink and recorded music until 2330hrs. The licence permits sales of alcohol throughout the premises to seated patrons excluding the bar area where vertical drinking is permitted.

Lease Terms • • •

New 10-year lease outside Landlord & Tenant Act Standard Cadogan Terms Turnover participation element

Availability Available from Q1 2024

T H E T E R R AC E R E STAU R A N T

S A ATC H I GA L L E RY

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The Space Lease Areas (NIA) Ground Area 0

5

10

First Floor Area 15

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Total Area

2,896 sq ft

269 sqm

431 sq ft

40 sqm

3,327 sq ft

309 sqm

I N D I C AT I V E L AYO U T

First Floor I N D I C AT I V E L AYO U T

I N D I C AT I V E A L F R E S CO S E AT I N G – SU B J EC T TO L I C E N C E

N

N

Ground Floor S C A L E 1: 2 0 0

0

5

0

10

5

15

10

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20

15

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Enquiries Davis Coffer Lyons

Nash Bond

Tracey Mills 020 7299 0744 tmills@dcl.co.uk

David Bannister 020 7290 4569 dbannister@nashbond.co.uk

Phoebe Brydon 020 7299 0726 pbrydon@dcl.co.uk

Florence Mills 020 7290 4589 fmills@nashbond.co.uk

About Cadogan Cadogan is a property manager, investor and developer with a 300-year history that informs its modern and dynamic approach to estate management, while remaining committed to the stewardship and long-term success of the area.

The Estate’s 93 acres is a vibrant neighbourhood that spans Chelsea and Knightsbridge – renowned for its unique mix of cultural attractions, stunning homes, international flagship stores, independent boutiques, enticing hotels, restaurants, cafés and bars – set against a backdrop of heritage, elegant streets and beautiful green spaces. Duke of York Square (formerly a Ministry of Defence Base) was developed by Cadogan into a thriving location for shopping, dining, culture and community in 2008.

At the heart of Cadogan’s management strategy is careful curation; preserving the area’s rich history and charm while ensuring future vitality. This proactive approach means that Duke of York Square constantly evolves, remaining a popular experience for both locals and visitors alike. cadogan.co.uk

Whilst every care is taken in the preparation of these particulars Nash Bond Ltd and DCL and the vendor/lessor take no responsibility for any error, mis-statement or omission in these details. Measurements are approximate and for guidance only. These particulars do not constitute an offer or contract and members of the Agent’s firm have no authority to make any representation or warranty in relation to the property.

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