Business for sale

Business description

Thriving circuit venue bar located next to well known night club (2,500 capacity) amongst branded operations in town centre of coalville within the national forest area

This is busy pub with sound trading foundation & opportunities of further growth offered at a realistic asking price of £99,000 lease assignment to include fixtures and fittings, goodwill plus s.a.v.

*Robustly trading at £376,633 – Wet led sales with food offering – further wet & food potential

*Central bar to 200 capacity split bar area with popular games section

*Unique secluded rear beer garden cum patio used for live music – circa 200 capacity

*Owners three bed roomed accommodation

*Ideal “cash cow” business – practically limitless options

*10 year Partially Tied Landlord & Tenant Act protected lease renewable at its end for a further 10 years anon at no further cost and no less favourable terms – 100% machine income retained

LOCATION (LE6 7PD)
The national forest is one of the fastest growing residential and commercial locations within the uk and the township of coalville is very much at its heart. In deed the offices of the north west leicestershire district council are located in the town which has also seen the opening of the new college facility stephensons college.

The town itself is mainly of victorian origin but has many nation treasures on its door steps such as market bosworth with its battlefields, ashby de la zouch with its castle and local forestry which is steeped in the legends of robin hood. The city of leicester is 10 minutes away along with the m1 and east midlands airport.

The outlet sits next to “emporium” on belvoir road, which is a 2,500 capacity night club and amongst the branded operations around the towns popular square, and is considered the pre club bar to the emporium.

PROPERTY DESCRIPTION
A large building of victorian age built of brick under pitched slate roofs. Internally the premises are designed for high volume usage with hard floor surfaces to most of its trading areas.

On several raised areas are spaces set aside as lounges and for games use (very popular with teams and locals to use). The main body of the room is licensed for some 200 people. A dj consul is located adjacent the central bar servery.

Seating is a mixture of fixed and loose seating to polished tables. Toilets – ladies & gents. New catering kitchen fitted with commercial equipment and compliant to eho requirements. Beer cellar is fully chilled and below ground.

OWNERS ACCOMMODATION
As spacious arrangement located to the first and comprising of 3 double bedrooms, living room, new fitted bathroom & sep w.c. and washroom.

EXTERNALS
A unique feature of the business is its “secret garden” which has a capacity of 200 having direct access into the main bars by way of double doors. There is a space on a flat roof area which is used by live bands and DJs for the provision of entertainment.

The patio has laid slabs with timber picnic sets, LPG space heaters, large brollies and a grassed area. A popular “extra bar” through out the year and our client holds events such as BBQs and bands at key times. This is the only such facility within the town which gives the business an obvious advantage over competitors.

PREMISES LICENSES
We are advised that the premises license allows Sun-Weds 10am till 12 midnight, Thurs-Sat 10am till 2am.There is provision for 30 sporting events p.a. A Personal License will be required and our training associates can assist with this for you along with other licensed retail training inc BII courses.

TENURE
We are instructed to offer the property and business for sale as a leasehold assignment of a 10 year landlord and tenant act protected (fully renewable at no further cost for another 10 year period “anon” at its end under no less favourable terms) from enterprise inns. The fully assignable lease has a current business rent of £36,675 pa. The business is partially tied with the ability to purchase wines/spirits & minerals from any source and has 100% retention of machine income.

SERVICES
We are advised that the pub benefits from mains electric, water, gas, sewage with heating by Gas.

THE BUSINESS
Our client wishes to assign the lease to retire from the business and is currently run by a family member. The business has a sound trading foundation of £376,633 wet driven with a GP circa 55% which provides plenty of margin for profit depending on personal requirements and expenses.

The addition of a food offer would greatly enhance sales and there is a strong requirement for food within the business which is easily identified. There is no reason that with a re-focus on the potential of the business that sales should not reach £ ½ million p.a.

Ref: G4300L