UNDER OFFER > Norwich City Centre > Norfolk

This is a prime opportunity to acquire a leasehold premises located in the heart of Norwich City Centre's vibrant bar and club district. The property benefits from a license allowing operations until 4:00 AM, 7 days a week, with alcohol sales permitted until 3:30 AM.

The affordable entry price makes this a highly attractive option for individuals looking to launch a new venture (subject to required planning or change of use) or for those wishing to continue its current operation as a karaoke bar.

Spread across four floors, the property also features tenant parking at the rear, making it a must-see for anyone considering a business in this thriving area. Contact us today to schedule a viewing!

THE BUSINESS:

The previous tenant operated a karaoke bar on limited hours for the past three years but vacated the property due to relocation. While this suited the previous owner, a new operator could leverage the full potential of the premises' extended license to increase business opportunities.

The venue is already fitted with six individual karaoke rooms spread over four floors, but the space is versatile enough to be adapted for a wide range of business concepts, subject to necessary consents.

PREMISES:

Located on Prince of Wales Road, in the heart of Norwich's nightlife district, the property offers an ideal location to maximize revenue and profit from the extended operating license.

Upon entry at the ground floor, you'll find a lower bar area (4.7m x 4.7m) featuring a glazed frontage with window seating, a bar area with additional seating, shelving, a mirrored wall, a fridge, a sink, and an ice machine. The premises are equipped with wood-effect flooring throughout, air conditioning, CCTV, and wall-mounted speakers.

The upper ground floor provides various seating options, including a large booth-style seating area along the walls. This floor also features wall-mounted speakers, a TV, and stylish light fittings. Off the landing, there is access to a toilet and stairs leading to the basement.

The basement (9.1m x 3.7m) is divided by an open archway. One side is set up for karaoke, while the other serves as a pool room. Both areas feature comfortable seating, a TV, speakers, a song selector, and air conditioning. There is also a toilet on this level and emergency exit doors leading to the rear yard.

The first and second floors are almost identical, each housing two individual karaoke rooms outfitted with seating, lighting, TVs, speakers, song selectors, wood-effect flooring, and air conditioning. Both floors also include a toilet off the landing and an additional room that can be used as an office or storage space.

ACCOMMODATION:

No accommodation is included with this listing.

KEY INFORMATION:

OPENING HOURS: Not currently open or trading.

TENURE: Leasehold - New long lease to be granted on terms to be agreed.

The purchaser will be responsible for the landlords costs and fees in connection with the grant of a new lease.

RENT PAYABLE: £20,000 per annum, plus VAT.

RATES PAYABLE: £4,990 per annum (post Covid).

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.

STAFF: Nil.

EPC: The Energy Performance Certificate shows a rating of 'B/41' - full document available on request.

PRICE: £18,000 + VAT.

For the benefit of the grant of a new leasehold interest in the property. This is not a business for sale as a going concern.

VIEWING: Viewing is strictly by appointment only. Please contact us at your earliest convenience to schedule a time that suits you.

FINANCE: If you require assistance with business financing or commercial mortgages (subject to eligibility), we may be able to help. Let us know if you would like our support, and we will gladly put you in touch with our recommended whole-of-market broker.

BUSINESS TO SELL: Thinking of selling your business? That's our specialty. If you're curious about its value, we offer a free, confidential valuation service. Simply pick the day and time that work best for you, and we will provide an honest, professional assessment. Feel free to get in touch with our office at your convenience to book an appointment.

PREMIER MARKETING: We are passionate about showcasing each business in a way that truly stands out. Our listings include high-quality property details and comprehensive information across all major online platforms, as well as our own website. If you want your business to shine, call us to arrange a complimentary valuation.

DISCLAIMER:

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, flooring 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.