Prince Of Wales Road, Norwich, Norfolk, NR1

PARTICULARS

EM&F are delighted to present to the market the opportunity to acquire this substantial Freehold Nightclub & Hotel situated in a prime location in Norwich City Centre. The Nightclub has been newly refurbished throughout and offers a great starting point for a new owner to takeover the business and hit the ground running from day one of ownership.

This long established and well-regarded business has only now become available due to the pending retirement of the owner who has enjoyed the past 44 years serving the people of Norwich and those that come to visit. There is much scope for extending the opening hours and offerings of the nightclub or to redevelop the site, particularly given its excellent high footfall location.

Viewing is highly recommended to fully appreciate what is on offer here and we urge any interested parties to contact us as soon as possible to arrange viewing.

THE BUSINESS ITSELF

The business and building are split into two distinct parts with the ground and lower ground floor housing the newly refurbished and well regarded 'Mojos' nightclub, with the first and second floor operating as 'Hotel Belmonte' which provides 9 stylish en-suite guest bedrooms.

Enjoying a good level of turnover the business provides very well for the owner, however there is significant opportunity for a new owner to increase this substantially by developing its catering offering to hotel guests and the general public as well as by extending the opening times of the bar and nightclub to take advantage of the year round local and tourist trade.

There is a small but dedicated team of staff who are very capable of running the business in the owners absence which may be of appeal to someone looking for an investment which can be manged on a more limited basis.

With two successful revenue streams, a large Freehold property, extensive high quality fixtures and fittings and vast potential to increase turnover and profits further this is one which does warrant your closer inspection.

PREMESIS

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

'Mojos Nightclub & Bar'

Entering the premises on the ground floor level through a large glazed frontage you are welcomed by a spacious reception area providing payment desk, bar and seating area with wall mounted TV's. This leads through to the main open plan club room with dance floor, a range of seating options including a V.I.P areas, a fully fitted out DJ booth which is complimented by a high spec sound and lighting system and two fully stocked bars with bottle and glass display shelving and cabinets together with electronic till points and other associated bar equipment. In addition the ground floor provides a fully equipped kitchen area for food preparation and glass washing.

The lower ground floor provides a further club room with a similar range of stylish fixtures and fittings, DJ booth, dance floor, seating areas and bar. Also at this level is an office, staff room, storage rooms, cellar and toilet facilities.

Externally the club has provision to the front for guests to congregate within a separated area from the main highstreet. The club is able to operate with a capacity of 460 guests.

'Hotel Belmonte'

Access to the hotel is through its own self-contained entrance with stairs leading up to the first and second floor accommodation. Providing in total 9 well fitted en-suite rooms with a selection of spacious single, twin and double rooms all presented to a very high standard with high ceilings, each with flat screen T.V's, Wi-Fi internet access and the usual complimentary hotel offerings.

The hotel benefits from double glazing, heating throughout, gas and electric supplies, full intruder and fire alarms and the building as a whole has a number of fire exit points.

This is a substantial property offering many possibilities which must be viewed to appreciate the extent of what is included within the sale and so we look forward to receiving your call to arrange this.

This is a substantial Freehold property offering multiple income streams and many possibilities to increase the scope of the business or redevelop the site subject to the necessary planning consents. Viewing is essential and highly recommended to fully appreciate the scope of what is on offer and we look forward to your call.

FURTHER INFORMATION

REFERENCE NUMBER
NC33914E.

OPENING HOURS
The nightclub has been closed during the various lockdowns due to Covid. The Nightclub generally opens on a Thursday, Friday and Saturday night from 10:30 pm to 3:00 am.

The Hotel is open 7 days per week as one would expect.

TENURE
The business is offered either to include the freehold property or on a leasehold basis to include the grant of a new lease on terms to be agreed between the parties based on a starting rent of £65k p.a.

RATES PAYABLE
We are advised by the vendor that the business rates payable are in the region of £22,000 per annum based on a rateable value of c. £48,000.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

EPC
Full Energy Performance Certificate available on request.

PRICE
Freehold: Overs Over £949,950, Leasehold: £250,000.

Limited Company Sale to include the freehold or the grant of a new lease, goodwill, fixtures, fittings & equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

VIEWING
Strictly by appointment only, please call our Norwich Office on to make an appointment.

FINANCE
Finance may be available to suitable purchasers.

BUSINESS TO SELL?
Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

PREMIER MARKETING
We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!

UNHAPPY?
Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.