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Pub Late Night Venue York Centre For Lease

York, North Yorkshire, UK
Asking Price:
£54,995
Turnover:
£200K - £500K
Net Profit:
Available on request

PLEASE NOTE WE ARE NOT SELLING DUE TO COVID, PUB HAS BEEN ON SALE FOR 18 MONTHS AND IS DUE TO A NEW BUSINESS VENTURE

Thomas's of York is a well established business known for incredible cocktails, great food & British decor.

Currently there is a Free of Tie offer with a new 20 year lease available for £70k per annum, this still has potential for negotiation. The pub is currently on a tied lease with extremely good rental for York City of approx. £35k per annum.

The sale has nothing to do with the Covid-19 and has been on the market since last year. The sale is due to the owner wishing to spend more time on a new business venture they have recently acquired.

However, during the GP the pub has gone through a MASSIVE refurb. All new toilets, tiled walls throughout, a brand new tiled bar, bricked up walls, a whole new brand new bar floor etc with only a slight increase in the price. This pub is very trendy & smart downstairs and very touristy and olde upstairs. A great combination for locals and tourists looking for different experiences.

This business has a licence to operate everyday of the week from 8am to 3.00am with minimal licensing restrictions

The pub trades on 2 of it's 4 levels. With planning permission submitted for a good sized external roof patio area with views of the Minster in the background

Large spacious cellar

1st Floor has approx. 110 covers over multiple levels with 2 bars selling 22 craft beers and 3 cask ales.

2nd Floor bar/Private Function Room with approx. 80 covers with a whole new entrance mimicking an olde English Pub, The newly named York Blighty with access to a large well maintained commercial kitchen. There is also access to a staff room & store room with potential to be made into an extra trading room/Karaoke room/ Gin & Cocktails Experience room!

Access from the 1st floor and 2nd floor via a back staircase that connects the whole pub takes you to a large roof top area that potentially could be converted into a roof top garden with views of the York Minster. Planning has been submitted.

3rd Floor is well maintained private living space with 3 bedrooms, office, bathroom, large kitchen, large living room. A lot of money & time has also gone into improving the living accommodation which has potential to create extra income with the correct compliance.

This pub is situated amongst some of York's most popular tourist destinations, a stones throw from the York Minster, in fact walk the pub and look to your left and it's right there! Minutes away from the York train station which provides a high footfall in and out of York, and right next door to the York Tourist Information.

This pub has great potential for growth and is offered with a lease that runs till October 2034 with EI Publicans.

The pub has a 60/40 Wet/dry split. Huge potential to maximize the late the night part of the license and open every night of the week with minimal licence restriction. re-introduce band nights and quizzes etc

This pub is huge inside and is deceiving from the outside, and is well worth a viewing. The length of the lease, the licence, the size of the building, the location and possible potential for a roof area makes this pub unique.

Incoming buyer/business purchaser pays all legal & solicitor fees associated with the sale of this business that the seller incurs till the completion of sale.

If interested, please contact the seller through the form on this page.

Property Information

Property:

Leasehold

Leasehold Type:
Existing
Lease Terms:

The lease expires in October 2034. This is a lengthy lease in a sought after market.
However there has been a £70,000 free of tie deal agreed, but a new owner would submit their own offer. Rent on a tied basis is current approximately £38,000 and a deposit will be required be EI of approximately £18k

Leasehold Rent:

£70 per annum

Living Accommodation:

In great condition. Well maintained and clean as a family currently live on site.
3 bedrooms, office, large living room, large kitchen and bathroom/shower room.
Approx £200 a month paid to EI
A 3 bedroom house in the heart of the city, this could have the potential to be let out to staff for an extra income with legal information as a HMO

Location:

Right in the heart of York City Centre. Opposite the York library & the museum gardens. A stones throw away from the York Minster & right next door to the York tourist information. Amongst some of Yorks best cafes, bars & restaurants. On a main road with great visibility.

Premises Details:

Set over 2 levels the bar has several rooms to choose from as well as an upstairs area that can also be closed off for private functions and a staff room and storage room that could potentially be converted into another room opening up the whole building. There is a large roof area with no neighbours to the back that with correct planning and approval could be converted into a roof garden increasing the covers.

Planning Consent:

Planning consent for the roof garden would be needed to ensure this is possible but there is president all over York for other converted roofs to gardens.

Business Operation

Expansion Potential:

Their is potential with the correct planning and consent to possibly convert the large roof top area in a smoking/beer garden.
There is a 3.30am license that is not being used to its full potential which is for every night of the week
Rent from the 3 bed accommodation could also be a bonus with the correct permission from the council/landlord

Reasons for selling:

Recently acquired a new business venture.

Trading hours:

9am to approx midnight most nights.
The 3.30am licences is a huge advantage for a night time venue, with few late licenses now being given in York

Employees:
15-20
Years established:
2012

Other Information

Support & training:

The owner is willing to allow an incoming buyer the option to come work at the venue before hand and a full handover will be given with the assistance of EI Publicans

F&F is mostly new after a massive refurb an amount would need to be determined by a valuer. Amount entered is a guesstimate

Furniture / Fixtures value:
£35,000
Inventory / Stock value:
£8,000

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