Business for sale

Business description

A modern free of tie café bar in a prime location in one of the countries prime tourest destinations, fabulous trade figers. Located in the town of matlock in the derbyshire dales.

A very imposing site refitted to a very high standard in this much sought after location, offered as a free of tie leasehold assignment at £138,500 to include extensive fixtures and fittings, goodwill plus s.a.v.

*Excellent turnover £286,000 Inc V.A.T. 50% wet and 50% dry with high-reconstituted net operating profit circa £35,000 and 07/08 showing increases in both areas.?
*A modern high specification refit carried out in last few years.?

*Opportunity to develop further and increase trading area by 100%?

*Possibility of assigning current brewery loan to suitable candidate to assist in purchase.?

*Currently operated under management previously operating at £9k paw under owner. ?

*14 years of original 15 year fully renewable lease remaining fully landlord and tenant protected and FREE OF TIE.

LOCATION (DE4 2NE)
The town of Matlock is famous for its restorative spa and as with many of these Victorian oddeses it is built in amongst the splendid surrounding countryside of the Derbyshire dales.

Only minutes from the word renowned Chatsworth Estate home to the Dukes of Devonshire. The area benefits from holding a central position between the conurbations of Manchester, Sheffield, Nottingham and Derby, and for many offers all manor of recreational pursuits.

From walking, sightseeing and eating and of course drinking. The area has many millions of visitors every year and these are generally all year round, together with a substantial local population. The property sits on the main Crown roundabout in the town with ample parking for the local amenities.

PROPERTY DESCRIPTION
The property is of local stone construction in the finest victorian architectural styles under a slate roof. Occupying a corner site it has large plate glass windows offering excellent light and vision.

Inside the ground floor is open plan and fitted out with modern style tables and chairs. There is a large service counter with built in display for pasties and general food offers, the back bar is well fitted and has a modern espresso machine able to offer a full range of coffee’s.

The bar café area (60) seated (60 standing) has freestanding furniture. There is a kitchen area to the rear of the bar and a substantial cellar in the basement with further sore rooms. The toilet facilities are adjacent to the bar.

The first floor is accessed either through a door leading from the main bar or from a separate street entrance, at present this area is not being used but offers an ideal opportunity to extend the trading area by 100%.

OWNERS ACCOMMODATION
At present there is no owners accommodation although there is ample space to introduce a substantial apartment with appropriate planning permissions

EXTERNALS
There are two main access points into the trading area leading of the main shopping street. The large Victorian façade offers an attractive retail proposition.

PREMISES LICENSES
We are advised that the business’s premises license allows for trading from 7am until 2am seven days per week, however the current opening hours are 7am until 6pm Monday through to Wednesday. Thursday, Friday and Saturday 7am until 11pm and Sunday 9am until 11pm.

A personal licence will be required and our training associates will be pleased to assist in this matter.

TENURE
We are instructed to offer the business for sale by way of lease assignment of a 15 year free of tie lease from 2007, fully renewable at no further premium with full Landlord & Tenant Act Protection from Morgon industrial properties at a business rent of £35,000 p.a.

SERVICES
We are advised that the pub benefits from mains services with electric central heating throughout. Rates payable are £7,000 p.a.

THE BUSINESS
This versatile business trades during the day as a busy café bar with eclectic trade base from shoppers to business people and of course many tourists. Then in the evening offers a modern café bar environment and forms an integral part of the lively night scene in Matlock.

With trading figures for year ending 2007 at £286,000 Inc V.A.T with reconstituted net operating profit of circa £35,000. However our clients can show how under their direct input the trading figures show weekly take of £9,000inc V.A.T and this year the reconstituted profits are in line to produce in excess of £40,000.

Our client has informed us that a substantial brewery loan would be available to a suitable applicant to assist with the purchase of the business. Of course the opportunity to expand the business on the first floor is the most obvious way to extend the business and would certainly be worth exploring, this we believe would indeed make a turnover circa £500,000 Inc V.A.T. possible. Our clients have numerous other business interests and feel that they need to commit fully to them hence there selling this business.

Ref: S4408L