Bar / Nightclub for sale

NOTTINGHAM

£49,500

Property Description

Key features

  • Popular well known Nightclub located in the centre of Nottingham close to the Old Market Square & many other popular circuit venues.
  • Total Occupancy 310 throughout.
  • VIP Bar (occupancy 50) with ambient lighting & DJ area. Available for Private hire.
  • Main Club/Bar (occupancy 150) with 2 separate Bar areas divided by central dance floor & DJ console.
  • Attic Bar (occupancy 110) with exposed wooden ceiling joists, exposed brick pillars, comfy seating area & Dance floor. Opportunity for catering kitchen.
  • Advised T/O circa £172,136 (incl. VAT) for year end 31/05/14. Achieved by trading only 2 Nights per week through lifestyle choice & offers immense potential to extend opening hours.
  • Trade 100% Wet sales.
  • Totally Free of tie Private renewable lease.
  • Genuine reason for sale - ill health/Retirement.

Full description

Tenure: Leasehold

REF: 7532 LEASEHOLD




A VERY RARE OPPORTUNITY TO ACQUIRE A WELL KNOWN POPULAR BUSINESS OFFERING FURTHER POTENTIAL AVAILABLE FOR THE FIRST TIME IN OVER 15 YEARS.


LOCATION

This well known popular nightclub business is located in the thriving and bustling city centre of Nottingham only a stone’s throw from the famous Old Market Square and close to many other circuit venues. Nottingham is known as one of the best nights out in the UK with a thriving mass of other pubs, clubs and entertainment venues. Famous for its Castle, Football teams, Brian Clough and originally lace Nottingham attracts visitors, tourists and Stag & Hen parties all year round. Nottingham sits on the M1 motorway and can be approached from junctions 24, 25 or 26. Nearby is the A1, A46 leading to Leicester and the A52 that leads to Derby.

THE PROPERTY

This popular 3 storey inn is of rendered brick construction, sitting under a pitched, slate roof, occupying a proud position in the centre of Nottingham. A Reception/Cloakroom entrance to the side of the property provides access to all the trading areas. These consist of:
VIP Bar (occupancy 50) is located on the ground floor of the property and is a cosy room with a relaxed welcoming atmosphere. Loose tables, stools, poseur shelves and minimal wooden perimeter bench seating sit on a laminate tile effect floor beneath subtle ambient lighting. There is a central well presented bar server of wood construction with 5 chrome Cobra dispensing points and a DJ area sits in the window at one end. This area is also able to be hired out privately if so desired.
Main Club/Bar (occupancy 150) is a spacious room located on the first floor with loose tables, fixed upholstered perimeter bench seating and low and poseur chairs and stools. There is laminate flooring throughout and 2 separate Bar servers of wood construction sit at either end of the room. There is a central wooden dance floor with an elevated DJ console sitting beneath an array of disco lights and central glitter ball.
Attic Bar (occupancy 110) is located on the 2nd floor and has a fabulous chilled relaxing feel. Loose tables and chairs, poseur tables and stools sit on a laminate and part quarry tiled floor surface. To one side is a comfy area of low tables and upholstered settees that sit beneath exposed wooden joists and brick built pillars. There is a central wooden dance floor and a well presented bar server of wood construction to one end. To the opposite end is a good sized room currently used for storage that could quite easily be converted into a Commercial Catering Kitchen if desired.
2 x Ladies, 3 x Gents W.C.’s throughout.

Below ground floor Cellar with python, remote etc and providing plenty of further storage areas.
CCTV throughout.

OWNER’S ACCOMMODATION

There is no owner’s accommodation and this business is a lock up.

EXTERNAL

There is no car park for this business. Car parks are readily available throughout the city centre.

TRADING & LICENSING

We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:
Mon- Thurs 10am to 2am
Fri/Sat 10am to 3am
Sunday 10am to 1am

Current opening hours are only:
Fri/Sat only 10.30pm to 3am

NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the APLH Qualification in readiness for their intended operation of the Public House.

GENERAL REMARKS

The business is offered for sale as a lease assignment with approximately 5 years remaining of the privately owned full repairing and insuring, renewable agreement. We are advised that the Nightclub is totally ‘Free of Tie’. We are informed that the rent is currently £46,000 per annum to be reviewed in 2020. We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium – subject to the provision of the Landlord & Tenant Act 1954. We are advised that the inn benefits from all mains services (no services seen or tested). Business rates payable are advised as currently being circa £12,000 per annum.

THE BUSINESS

The current owners purchased and re-located this well known popular business across the City in 2000. Over the past 40+ years our vendor clients have established a solid following and trading foundation with a loyal, repeat and desirable clientele. The business is currently operated by the owner’s themselves with the assistance of circa 16 part time members of staff. Our vendor clients have now reluctantly decided that after 40+ successful years in the trade to move on and retire through ill health whilst looking to take life at a more leisurely pace. We are advised that accounts declare takings of circa £172,136 inclusive of VAT for year ending 31st May 2014 with 100% wet sales. This has been achieved by trading only 2 days per week through ill health and lifestyle choice. New owners could continue to operate the business using the same current formula or they may wish to take the business to the next level by exploiting the obvious opportunity to vastly extend the opening hours of the business.

Accounting information will be made available to interested parties after viewing.

This business was viewed by Richard Fletcher who would be delighted to discuss further details and can be contacted on 07527 718400.

Viewing appointments must be made by contacting Guy Simmonds.

VIEWING: All appointments must be made through Guy Simmonds. Please note that these Sales Particulars are issued on the strict basis that all negotiations, viewings and contacts in connection with this business are conducted through Guy Simmonds who are appointed by the vendor to act under a Sole Selling Rights agreement with total confidentiality. Any breach of these terms may make you liable in law to litigation and damages. Under no circumstances must you approach the owner direct without a formal appointment or disclose to other customers and staff that the Premises are for sale.

FINANCE FOR PURCHASING A LICENSED PROPERTY: We are in constant touch with a leading finance broker who specialises in arranging Business Finance for Licensed Properties. Whether you are purchasing a Licensed Property through ourselves, or another agent, we will be pleased to contact on your behalf our specialist who can arrange the necessary Finance Package for you at preferential rates. Please telephone for free and no obligation advice with regards to financing a Business.

Guy Simmonds for themselves and for the vendors or lessors of this property and/or business whose agents they are give notice that:-
(I) These particulars are a general outline for the guidance of intending purchasers (or lessees) and do not constitute an offer or contract, nor any part of an offer or contract.
(II) All descriptions, dimensions, distances, maps/plans, references to condition, trading figures and other items in these particulars are given as a guide and no responsibility is assumed by Guy Simmonds for the accuracy of individual items. Intending purchasers (or lessees) should not rely on them as statements of representations of fact and should satisfy themselves as to the correctness of each item by making independent enquiries.
(III) Intending purchasers (or lessees) should make their own independent enquiries regarding the use of the property, necessary permissions for use and occupations, potential uses and any other matters affecting the property prior to purchase.
(IV) Guy Simmonds do not make or give whether in these particulars, during negotiations or otherwise, any representation or warranty in relation to this property. No responsibility is taken by Guy Simmonds for any error, omission or mis-statement in these particulars. Guy Simmonds do not warrant the accuracy of any accountancy information supplied and purchasers are advised to take independent advice in order to satisfy themselves.
(V) Guy Simmonds are unable to give any warranty as to the working order of any apparatus, equipment, fittings or services associated with the premises and therefore, cannot verify they are in full working order. Purchasers are strongly advised to obtain specialist reports prior to exchange of contracts in order to satisfy themselves.
(VI) All statements and descriptions are made without responsibility or warranty by Guy Simmonds, the vendors or lessees. Neither do Guy Simmonds nor the vendors/lessees hold ourselves responsible for any expenses whatsoever incurred by applicants inspecting Businesses which may be sold or withdrawn, to include travelling, valuation/survey, legal fees etc.
(VII) No person in the employment of Guy Simmonds has any authority to make or give any representation or warranty whatever in relation to this property.
(VIII) It should not be assumed that the contents of any photographs are included in the sale.
(IX) All prices quoted are excluding stock at valuation.

Nearest stations

  • Old Market Square (0.1 mi)
  • Royal Centre (0.1 mi)
  • Lace Market (0.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds, National Licensed Property Agents

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448091 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Old Market Square (0.1 mi)
  • Royal Centre (0.1 mi)
  • Lace Market (0.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds, National Licensed Property Agents

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448091 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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