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Pub for sale

Vertigo, 15 St Mary's Street, Truro

Guide Price £99,950

Property Description

Key features

  • HIGHLY PROFITABLE CITY CENTRE BAR (110 COVERS)
  • ONE BEDROOM OWNERS/MANAGERS ACCOMMODATION
  • LARGE TRADE GARDEN BACKING ONTO THE RIVER
  • TURNOVER IN EXCESS OF 450,000
  • EPC RATING (EXEMPT)

Full description

A stylish and profitable city centre bar with a large trade garden and 1 bedroom owners accommodation.
Occupying a substantial 3 storey property adjacent to the catherdral, the bar offers scope to cater for functions and parties in additional to regular trade.

Location - Vertigo is situated within 50 yards of the historic Cathedral, in what is considered to be the primary area for nightlife in the City of Truro.

As the main administrative and commercial centre in Cornwall, Truro has seen significant commercial and retail investment in recent years making it a thriving and vibrant City. The continuing residential development in and around the City, together with plans for a new stadium and expansive development just to the west, mean the area will see increased growth, certainly for the foreseeable future.

The Property - The business occupies a substantial three storey Grade II Listed building: a facade that belies its contemporary interior. The original property has been extended to the rear to provide a large conservatory which gives access to an outdoor seating area. The attractive paved and decked area to the rear backs onto the river with an outdoor kitchen, large barbeque and mobile wooden bar.

The main bar and seating areas are on the ground floor with a further bar and lounge, ideal for functions, parties or overspill, on the first floor. The one bedroom accommodation is located on the second floor.

The Business - Vertigo has been in our clients tenure since 2009 and currently trades from 12pm to midnight Monday to Wednesday and from 12pm to 1am for the rest of the week. Whilst our client chooses to open at lunchtimes, the Licence allows for 9.30am opening, if required.

Currently operated by our client with the assistance of two managers, two supervisors, a chef and between 8 and 10 part-time staff, it is considered that wage costs could be reduced were the business to be run by a husband and wife team.

The business has seen increasing levels of turnover and profitability over the past 3 years with the Accounts for the year ending February 2015 showing a net turnover of £452,983 and an adjusted net profit of £78,927.

The Accommodation Comprises - (all areas and dimensions are approximate)

Large glazed picture window with inset glazed door giving access to:

Main Bar Area - 6.28m x 5.68m (max). Return bar with granite worktop and 8 taps, 1 double and 1 triple undercounter drinks chiller, 2 Head Faema coffee machine, coffee grinder, 2 Epos points, glass washer, stainless steel undercounter wine fridge, undercounter fridge, CCTV television, double stainless steel sink drainer, seating for 8. Door to:

Hallway - 3.36m x 2.85m. Separately accessed via a door onto St Marys Street providing secondary access to the bar, stairs to first floor, door to:

Ladies Wc - With vanity wash hand basin, tiled floor, door to close coupled wc.

Gents Wc - Wall mounted corner sink, urinal, wipe clean walls, lino floor.

Understairs Storage Cupboard -

Main Seating Area - 6.55m (max) x 5.1m. Upholstered built-in high back seating with tables and chairs providing 20 covers, spotlights and downlighters. Door to side alleyway, double glazed doors to:

Conservatory - 4.3m x 3.6m. Tiled floor, built-in upholstered seating with tables and chairs providing 10 covers, glazed double doors to rear trade garden.

First Floor Landing - Stairs to the second floor and doors to:

Spirit Store/Office - 3.9m x 3.5m. Window to front elevation, built-in wooden shelving, 2 upright Gamko wine fridges, 1 Beko upright fridge/freezer, radiator.

Front Lounge Bar - 4.1m x 5.7m. Built-in wooden bar with built-in wooden shelving behind, Samsung undercounter wine fridge, electronic till, 2 stainless steel sinks, 1 Classeq glass washer, sofas and seating for 12, window to front elevation, radiator, fire exit.

Function Room/Lounge - 6.77m x 5.2m. Built-in upholstered high back seating with tables and chairs providing 20 covers. Cast iron and feature fireplace with wood surround and mantel, triple window to rear overlooking the trade garden.

Second Floor -

Owners Accommodation -

Lounge - 3.98m x 3.85m (max). Window to front elevation, radiator.

Bedroom - 3 m x 3.6 (max). Window to front elevation, window to side elevation with views of the Cathedral, radiator. Door to:

En-Suite Shower Room - Built-in shower cubicle, close coupled wc, wall mounted corner basin, extractor fan.

Storage Cupboard - Window to side elevation.

Kitchen - 3.1m x 2.5m. Commercial non-slip flooring, wipeable walls, two stainless steel sink drainers with stainless steel splash backs, 4 ring electric hob, stainless steel extractor hood, single stainless steel fryer, commercial microwave, 3 fridge, 1 hand sink, window to side elevation.

Second Floor -

Customer Toilets - Ladies and Gents wcs each with coupled wc, wall mounted wash hand basin, commercial non-slip floor and windows to rear, fire escape.

Outside - Block paving and slate flagstones.

Outside Bar - 5 pumps, Infrico large stainless steel undercounter fridge unit, Epos till, Classeq glass washer, stainless steel wash hand basin, access to bin store.

Commercial Kitchen - Commercial non-slip flooring, wipeable walls, Lincat double fryer and double hot plate, commercial microwave, 2 undercounter fridges, 1 Roller Grill Rotisserie (5 spit), stainless steel work bench, 1 Classeq dishwasher, 1 stainless steel hand sink, 1 stainless steel single sink drainer.

Patio Area - Seating and tables for 40 leading to rear decking area, mobile wooden bar, built-in outdoor corner seating for 24 and free standing tables and chairs, 2 large electric "Jumberella".

Tenure - Leasehold - Vertigo is offered by way of the assignment of the existing 15 year Lease which commenced 20th February 2009 at a current passing rental of £26,000 per annum. The Lease is on a full insuring and repairing basis with a 3 yearly rent review pattern.

General Information - CONTACT INFORMATION

For further information or an appointment to view please contact Beverly Northey on 01872 247031 or via email bn@miller-commercial.co.uk

Local Authority - Cornwall Council
General Enquiries 0300-1234-100
Planning 0300-1234-151
www.cornwall.gov.uk

Energy Performance Certificate - Exempt.

Inventory - An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.

Legal Costs - Each party to bear their own.

The ingoing lessee to be responsible for the landlord's reasonably incurred legal costs in connection with the transaction.

The ingoing lessee to be responsible for the existing lessee's and landlord's reasonably incurred legal costs in connection with the transaction.

Premises Licence - We are advised that the business currently holds a full Premises Licence for the sale of intoxicating liquor on the premises.

Business Rates - We refer you to the valuation office website www.voa.gov.uk or call 0300-1234-171

Services - Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989
South West Water: 0800 169 1144
Transco: 0800 111 999

Stock - To be taken at valuation on completion.

Value Added Tax - All the above prices/rentals are quoted exclusive of VAT, where applicable.

PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.

Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.

VIEWING: Strictly by prior appointment through Miller Commercial.


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