Business for sale

Business description

A great atmospheric irish bar with fabulous atmosphere forming the centre of the heart of hartlepool.

This formula is seen in many cities and towns around the world for the simple reason it is a tried and tested formula for success. This bar has been developed in the finest tradition and is an extremely profitable opportunity offered at a sensible price for the lease assignment at £90,000 to include fixtures & fittings + s.a.v.

*Excellent trading circa £240,000 Inc vat under management – 100% wet driven

*Fantastic rent at just – £70 p.w. ie £3640 p.a.

*Licensed for (120) with 2 bed managers accommodation

*(Fantastic converted NET operating profit indicated at £52,000 p.a.

*Brewery loans available to suitable candidate

*Free of Tie L&T protected 10 year private lease

LOCATION (TS24 TDN)
Right on the heart of the main recreational area of church street Flanagan’s commands a key position and sets the standard for all the other bar operations on the main drag. The majority of people out for a quick drink or for longer will spend a considerable time in this bar as it is an institution in Hartlepool. with the boulevard running east and west it has the optimum location.

Hartlepool is in the new north east, massive investment new industry private dwelling development in the heart of the town ensures a lively ambiance high employment leading educational facilities and great communication is attracting people form all over the north to settle in this redevelopment area, previously known for its brewing and of course the hanging of a Monkey the locals suspected as being an escaped French spy!!

PROPERTY DESCRIPTION
The property is a three story terrace with pitched slate tiled roof. it has a single bar servery and mezzanine level (120) with ground floor cellar accessed from the rear of the building and having reasonably new beer raising equipment and cellar cooling. There is an excellent catering kitchen which with a little investment could be producing a fine Irish stew and soda bread sandwiches. The bar has all the usual Irish theme props you would expect and all are of the finest quality large and numerous t.v. screens show satellite music channels sports and video channels. In all the atmosphere is brilliant and is maintained to the highest standards.

OWNERS ACCOMMODATION
There is a two bed roomed managers flat with bathroom and sitting room an ideal facility.

EXTERNALS
There is ample car parking adjacent to the building and along the front of the premises there is space for a number of aluminum chairs and tables. An attractive Victorian canopy partially glazed runs the length of the building offering protection from the inclement English weather, an ideal area for seeing and being seen and of course having a smoke.

PREMISES LICENSES
We are advised that the business’s premises license allows for trading 11am until 1am Monday to Saturday and 12-10.30 Sunday.

TENURE
We are instructed to offer the lease the business for sale by way of a lease assignment of a ten year free of tie lease from 2004. We are advised that the lease will be renewable and the next rent review will be 2010. The current rent is £3,640 per annum.

SERVICES
The property has all mains services connected, gas , electric, drains and water. The air conditioning provides heating and the property is fitted with a comprehensive alarm system as well as satellite T.V. and a C.C.T.V. system.

THE BUSINESS
The business is run under management and our clients have not had the year end accounts for us to view, however they have indicated that a turnover figure of circa £240,000 inc V.A.T. will be achieved with good operating profit .

Our clients are selling their business due to the demands of there main business. The existing brewers have indicated they are prepared to make a loan facility available to a suitable candidate, and of course being free of tie there are not inconsiderable discounts available further enhancing the profitability.

The Catering kitchen is not currently used but must form part of the plan to enhance trade by the introduction of food. We believe that a turnover in excess of £500,000 is realistically achievable with the right operator in place, resulting in excellent profitability.

Accounts information will be made available to interested parties after viewing.

Ref: S4384L