Bar Pub Club Licensed Entertainment Venue With A3 For Sale

Business description

WALTHAMSTOW, E17 LONDON

LOCATION: Situated on a busy main road location with dense traffic. Close to bus stops.

DESCRIPTION: This lockup venue has opaque glass windows on the main road. It is split into two customer areas. The main door enters into a large open area which contains two serving bars. There is a typical bar layout, including drinks taps. From the main road there is also a second separate door which leads into a good sized restaurant style seating area. Both rooms are connected via a passage way. Internally the venue is in an excellent condition with modern décor. There is laminate flooring, spotlights and a soundproof ceiling. To the rear are modern toilets for both ladies and gents. Centrally heated. There is a small yard to the rear containing seating for smokers.

EQUIPMENT: Equipment includes 14 chairs, 10+ leather settee seating and 7 tables in the main bar area, plus 12 chairs and 5 tables in the second room. There are also two 42” LCD TV’s, 1 other TV, stereo equipment, disco/event lighting, lasers and mirror balls, spotlights, a/c and airflow system, CCTV, monitored alarm, 2 digital tills, 3 drinks fridges, 2 ice-making machines, glass washer. The kitchen contains a sink, basin, cooker and 2 microwaves and 2 stand up fridges.

BUSINESS: Takings are around £2,000 p.w. This is typically achieved through three event bookings a week (e.g. Fri/Sat/Sun). Income consists of the venue booking fee plus bar sales. There is capacity to hold around 100 people. The owner is supported by staff hired as and when required. There is great potential to introduce a dedicated restaurant area, lunchtime trade and operate as a full-time bar. There is a live entertainment licence, recorded music licence and A3 catering licence.

HOURS: Variable/flexible depending on event.

ACCOMM: There is no residential accommodation.

TENURE: Lease commenced in 2001 for a term of 15 years and the current rent is £20,000 per annum with reviews every 3 years. Fully renewable.

RATES: Business rates payable are approx £4,250 p.a.

Property information

Property:

Leasehold

Lease terms:

Lease commenced in 2001 for a term of 15 years and the current rent is £20,000 per annum with reviews every 3 years. Fully renewable.

Leasehold rent:

£20,000 per annum

Location:

Situated on a busy main road location with dense traffic. Close to bus stops

Other information

Expansion potential:

There is great potential to introduce a dedicated restaurant area, lunchtime trade and operate as a full-time bar. There is a live entertainment licence, recorded music licence and A3 catering licence.

Support & training:

Full handover support and training included in asking price.

Reasons for selling:

Personal reasons.

Trading hours:

Variable/flexible depending on event.

Financing available:

50% FINANCE GIVEN to you when you buy this business with very low monthly payments (subject to status).

Inventory / Stock value:

£2,500

Related documents:

• 
• Compulsory Registration Form to Return Please