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Free Of Tie Nightclub For Lease

Birmingham, West Midlands
Asking Price:
£59,950
Turnover:
£390,000
Net Profit:
£50K - £100K

Unfortunately relisted for a second time due to months wasted by complete and utter dreamers who were unable to complete at the last minute due to lack of funds.

Free of tie Lease forsale on a busy and well established nightclub premises located in the centre of Sutton Coldfield. The premises currently only trades as a nightclub and operates 10pm - 5am only of a Friday and Saturday, with the exception of some Thursdays and all Bank Holidays. However there is the possibility to change the concept of the premises and operate as both a bar and nightclub and over longer hours and more days. The premises is fully licensed for up to 450 patrons 10am - 5am Monday -Sunday.

The current rent payable is £45,000 Per annum NO VAT applicable
Rates Payable are £22,000per Annum
Service Charge £10,000 per annum (this includes waste)
Gas and Electric £8000 per annum
Water £2800 per Annum

The property has been operated as a licensed premises since1975 and has been under our ownership for the last 6 years. It has been managed externally for the last 2 years with no involvement from the owners. The Lease is the original lease from 1975 and runs until the end of 2025. There is the option to renew. It also has the option to sublease without the consent of the landlord needed. Trade has dropped significantly in the last 2 years down to takings of between £7000 - £8000 per week. This is due to the owners lack of involvement, investment and development of the business. Previously the premises were trading at over £10,000 a week based on 3 nights.

The property is in reasonable condition throughout and fully fitted out for immediate trading, however they would benefit from a small refurbishment and a spruce up as its been a number of years since any work was carried out.
the property also benefits from a large private smoking area with glazed roof that forms part of the shopping centre.

Sutton Coldfield is one of the most affluent areas in the west midlands and there are many nearby large licensed chain brands operating. All other venues in the town close between midnight and 2am. This premises is the only venue in the town that has a late license, no licenses that late will be granted again in this area.

Asking price £69,950 for a very quick sale.
no proof of trade will provided or is offered with this sale.

To avoid anymore of our time being wasted, any offers will only be accepted once proof of funds have been provided direct to our solicitors. The property will continue to be marketed unless a deposit is paid and certain information and an application form will need to be provided within 48 hours to the landlords of the shopping centre in order for them to give their permission for the assignment. If no sale is completed within 28 days then the owners will withdraw from any sale.

PLEASE READ ALL OF THE INFORMATION BEFORE CONTACTING US AND ASKING FOR THE SAME INFORMATION.

https://www.youtube.com/results?search_query=rumour+nightclub

https://www.youtube.com/watch?v=2jaaJv39STc

Property information

Property:

Leasehold

Leasehold Type:
Existing
Leasehold Rent:

£45,000 per annum

Business Operation

Expansion Potential:

could be used for alternative uses

Employees:
12
Years established:
1975

Contact Information

    1. Your Address

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