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Cabaret Show Bar & Function Venue Barnstaple For Lease

Barnstaple, Devon, UK
Asking Price:
£50,000 Furniture / Fixtures included
Turnover:
£310,000
Net Profit:
£113,000

UNIQUE FULLY LICENCED VENUE - 3 AM LICENCE

PRIME TOWN CENTRE LOCATION

Private Landlord. lease to 2028 (Option to extend until 2035)

Seating capacity circa 150 (does not feel squashed in & tables not on dance floor)
220 capacity theatre style
Designated Reception & coats facility area

Snug area for seating circa 40 - sofas & soft seating ( separate to main club room)
Single car parking space to rear

Toilet, Kitchen & Office facilities to first floor

HIGH FIT OUT:

Fully operational turn key business
Fully equipped bar & cocktail station with full EPOS till system
Usual under counter fridge provision & Wine fridges & Slush Machine
Large Stage & professional curtain system
Dance floor & Full, exceptional professional Lighting & Sound rig & computer control
DJ Box & Equipment
Full CCTV system
Toilets, Offices, Kitchen (First Floor)
Storage/flat potential - (Second Floor)
Changing Rooms - (Rear Stage)

4000 Square feet ground floor trading space
1400 Square feet first/second floor additional space

CURRENTLY ONLY OPEN 2 EVENINGS WEEK - HUGE SCOPE TO OPEN DAILY

Potential to provide a full food service & develop huge roof terrace space

Favorable RENTAL @ £24,000 PER ANNUM (NO VAT PAYABLE ON LEASE)

On line reservation system, Web page & domain & FB access included.


For more information, please contact us by using the form below.

Property Information

Property:

Leasehold

Leasehold Type:
Existing
Lease Terms:

7 year lease commenced @ August 2021 with expiry August 2028
Automatic option to extend further 7 years until 2035
rent review @ year 5

Leasehold Rent:

£24,000 per annum

Living Accommodation:

No living accommodation but top floor suited for conversion into 1 bedroom flat with separate access

Location:

Prime high street location in Barnstaple

Premises Details:

Grade 2 listed with large rear extension
2 room operation at ground floor with toilets, offices, storage, kitchen at first/second floor

Size in square feet:
4000 square feet ground floor. 1000 sq feet first/second floor
Planning Consent:

Complies to all current planning requirements

Business Operation

Expansion Potential:

Potential to increase current opening hours from 2 evenings
Introduction of private functions
Food
Day time opening
Re development of huge roof terrace

Competition / Market:

Unique concept venue with no competition in 100 mile radius
Other usual licensed properties around, pubs etc.

Reasons for selling:

Ill health and needing to re locate to be closer to family members

Trading hours:

7PM-2AM FRIDAY/SATURDAY
6PM -11PM SUNDAY (MONTHLY)

Employees:
8
Years established:
2021

Other Information

Support & training:

Happy to provide a hand over period at completion

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

60% deposit @ completion (£30,000)
40% residue payable monthly over 12 months period @ £1,667.00 per month interest free
BASED ON A £50,000 PURCHASE + SAV
(The business itself is easily able to sustain the 12 months payments, thus making the up front purchase @ £30,000 + SAV)

Furniture / Fixtures value:
£70,000 - included in the asking price
Inventory / Stock value:
£5,000
Website:
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