Front area with electric drop blinds yawnings with heating. Tables and chairs providing seating for 32 persons.
Double door entrance to SPACIOUS BAR, carpeted and raised woodstrip floor area. TV system with 5 screens. Tables and chairs plus high stools providing seating for 60 persons plus ample standing. Mirrors to walls, wall and ceiling lighting. Bar with mirror-backed shelving, electronic computerised till, 8 beer pumps, 2 double door glass fronted counter fridges, 1 additional glass fronted counter fridge, ice machine, glass washer, sink. 5 cameras, monitor plus recording.
Stairs to basement. Large area in our opinion offering terrific potential to develop into a Restaurant area with bar providing seating for 50/60 persons.
Adjoining newly fitted kitchen with stainless steel extractor with double carbon filter, 6-burner gas cooker with double oven, charcoal grill, 2 sinks etc.
Ladies' cloakroom with 2 w.c's, wash hand basin
Gentlemen's cloakroom with 3 urinals, w.c. and wash hand basin
Beer Cellar
Turnover
WE ARE INFORMED the turnover averages £7,000 p.w. mainly wet sales in our opinion offering tremendous potential for further development in the right hands. Gross profit 70% approx.
Staff
The business is at present operated by the vendor with the assistance of his wife on a part time basis plus 2 full time staff and 1 part time staff. In addition, there are further part time staff employed at weekends when required. It should be noted that during the summer months i.e. March to end of September, additional staff are employed.
We understand the property is leasehold having approximately 75 years unexpired. We further understand that the freehold is owned by Crown Estates and we are further advised that they are entitled to charge 27½% of the agreed current market rental value p.a. We are further advised that the current market value is £36,000 p.a. and therefore there is an annual current rental charge of £9,900 p.a. plus VAT.
The vendor owns the long leasehold property and subject to satisfactory references is prepared to grant a new 20 years full repairing and insuring under-lease at a rental of £40,000 p.a. exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years.
Uniform Business Rates: £11,500 p.a. approx.
PERSONALLY INSPECTED AND HIGHLY RECOMMENDED
MUST BE SEEN TO BE FULLY APPRECIATED
Price
ALL OFFERS CONSIDERED TO INCLUDE THE NEW UNDER-LEASE, GOODWILL, FIXTURES & FITTINGS plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT
ALL OFFERS ALSO CONSIDERED TO INCLUDE THE VALUABLE LEASEHOLD PROPERTY, GOODWILL, FIXTURES & FITTINGS plus STOCK AT VALUATION
SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT
