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WE ARE INFORMED the turnover averages £7,500/£8,000 p.w. in our opinion offering tremendous potential for further deveopment in the right hands. We are further advised that the sales year ending 30th June, 2006 showed £316,998 with a gross profit of £242,312.
Price
OFFERS INVITED TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS in the region of £280,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT
Features
Outstanding opportunity to acquire a spacious Snooker Club, in all approx. 10,000 sq. ft. with the benefit of a Full On Licence and Entertainments Licence.
Excellent trading position in this densely populated area.
As stated in the region of 10,000 sq. ft. with Full Gas Fired Central Heating.
Ground Floor, fully carpeted. Large Bar with 5 hand pumps, optics, 3 double door counter fridges, bar stools, 10 armchairs plus coffee tables plus 3 tables with 14 chairs. 5 American Pool Tables. 2 English Pool Tables. 3 Plazma screens (on lease hire), air conditioning (also on lease hire).
Stairs to First Floor, fully carpeted. 14 snooker tables plus 2 private rooms each with snooker table.
Ladies' cloakroom with 2 w.c's, 2 wash hand basins
Gentlemen's cloakroom with 4 urinals plus 4 w.c's and 2 wash hand basins
Ground Floor - to the rear of the bar is a fully equipped catering kitchen with non-slip floor. The equipment includes grill, double deep fryer, electric cooker, 1 fridge, 2 chest deep freezes, 1 upright deep freeze, dishwasher, ice maker, stainless steel work surfaces etc.
Staff
The business is at present operated by the vendor with the assistance of 3 full time and 1 part time staff.
The accommodation in the form of a SELF CONTAINED FLAT over, is at present let on a shorthold tenancy and provides a rental income of £650 per month, however, we understand vacant possession can be given on completion. The accommodation comprises:
2 Double Bedrooms
Bathroom with bath, w.c. and wash hand basin
Lounge
Fitted Kitchen
Outside
Car parking area for approx. 20 cars.
Tenure
We understand the premises are held on a secure renewable lease having approximately 15 years unexpired at a rental of £81,000 p.a. exclusive of rates, currently under review and we understand the landlords are asking to increase the rent to £89,000 p.a. for the next 5 years, however, this is still under negotiation. (Included in the lease are 2 ground floor restaurants, each let on under-leases and both having approximately 5 years unexpired. 1 restaurant producing a rental income of £39,000 p.a. whilst the 2nd restaurant produced a rental income of £21,000 p.a.).
As will be appreciated with the rental income from the self contained flat of £7,800 p.a. the combined rental income at the present time is £67,800 providing a net rental payable at the present time of only £13,200 p.a. exclusive of rates. (Subject to increase, depending on the outcome of the current rent review).
Uniform Business Rates: £10,000 p.a. approx.
OUTSTANDING OPPORTUNITY TO ACQUIRE A WELL EQUIPPED & SPACIOUS SNOOKER CLUB IN THIS EXPANDING AREA. WE UNDERSTAND THAT 1 OF THE LEADING GROCERY CHAINS ARE SHORTLY TO OPEN A SHOP NEARBY WITH FLATS OVER AND IN ADDITION WE UNDERSTAND THAT A FURTHER 600 HOUSES ARE BEING BUILT NEARBY.
