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Distinctive Licensed Piano Bar In Torquay For Sale

Torquay, Devon, UK
Asking Price:
£125,000
Turnover:
Undisclosed
Net Profit:
Undisclosed

Distinctive licensed piano bar and hospitality business less than 100 metres from Torquay Harbour, with a 200-person capacity, premium food and drink offering, live entertainment and a 4am late licence.

Elton's Piano Bar is an established and highly regarded hospitality venue within the multi-million-pound At Harbourside development. Completely refurbished five years ago, the venue combines a sophisticated piano lounge environment with premium cocktails, wines, champagnes and spirits, tapas and sharing dishes, plus regular live piano and vocal entertainment. A high-quality fit-out, Yamaha grand piano, integrated sound system, VIP area, commercial kitchen and outside seating contribute to a genuine turnkey operation.

The business occupies a prominent position in Torquay town centre, less than 100 metres from the harbour, marina and waterfront. Located within one of the English Riviera's principal leisure and hospitality areas, the venue benefits from both a loyal local following and significant visitor trade, surrounded by restaurants, bars, cafés, hotels and leisure businesses.

Multiple income streams are already established through premium drink sales, tapas and small plates, sharing boards and seafood platters, live entertainment, private VIP celebrations and corporate and hospitality events. The business currently trades five days per week, Wednesday to Sunday, and is operated on more of a lifestyle basis. This provides scope for an incoming operator to extend opening hours, broaden the food offering and develop private functions, events and entertainment-led trading further.

The business is operated by a single owner with three full-time employees and a flexible team of part-time staff. Viewing is highly recommended and can be arranged by prior appointment with Bettesworths.

Property Information

Property:

Leasehold

Lease Terms:

Lease Terms:
Internal Repairing and Insuring lease. The current rent has been fixed for the next five years.

Furniture, Fixtures & Fittings:
Furnishings and equipment are included as per an inventory to be supplied, excluding the owner's personal effects.

Stock:
Wet and dry stock in trade and bar glassware will be taken over by the purchaser at valuation on completion.

Leasehold Rent:

£62,750 + VAT per annum. - £7,000 + VAT per annum. per annum

Location:

Elton's Piano Bar occupies a prominent town-centre trading position within the At Harbourside development, less than 100 metres from Torquay Harbour, marina and waterfront.

The surrounding area is one of Torquay and the English Riviera's principal leisure and hospitality destinations, with restaurants, bars, cafés, hotels and leisure operators supporting a vibrant day and evening economy. The location attracts both local customers and substantial visitor trade throughout the year.

Premises Details:

Elton's Piano Bar occupies an expansive open-plan hospitality premises which was completely refurbished five years ago and benefits from a high-quality fit-out, quality fixtures and fittings, a state-of-the-art speaker and sound system and fully integrated CCTV.

A recessed entrance porch leads to an outside trading area providing seating for more than 20 customers.

The main trading area has a stated capacity of 200 and features floor-to-ceiling glazing at the entrance. The main bar servery incorporates bespoke back-bar fittings, espresso coffee machine, glass washer, till system and bottle fridges, with a small beer cellar positioned behind.

The trading floor provides a centrally positioned fixed high-bar seating section, upholstered seating and additional loose tables and seating. A Yamaha grand piano is positioned within the venue and forms a focal point for the regular live entertainment.

There is also a raised VIP section suitable for private parties and celebrations.

Customer facilities comprise ladies’, gents’ and disabled WCs.

The fully equipped commercial kitchen includes a Rational oven, professional catering equipment, refrigerators, freezers, main extraction and non-slip flooring.

Additional operational facilities include a ground-floor beer cellar, service corridor, cleaner’s cupboard, wine cupboard and bin storage area.

Outside seating for more than 20 customers provides an additional trading area.

Planning Consent:

Licence: 4am late licence.

Energy Performance Rating:
B

Business Operation

Management type:
This business is owner operated.
Expansion Potential:

The business currently trades five days per week and is operated on more of a lifestyle basis. There is stated potential to extend opening hours, broaden the food offering and introduce additional trading initiatives. Further development of private VIP parties, celebrations, corporate events and entertainment-led trading also provides growth potential.

Competition / Market:

The business differentiates itself from more traditional town-centre bars through its premium piano lounge concept, regular live piano and vocal entertainment, food offering and private-event facilities.

Trading hours:

Wednesday to Sunday, with afternoon and evening service.

Employees:
Single owner supported by three full-time members of staff and a flexible team of part-time employees.