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City Centre Basement Bar & Restaurant, 85 Watergate Street, Chester, CH1 2LF

£250,000

Business rates & charges may apply

Christie & Co, Pubs & Restaurants
SIZE

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SECTOR

Pub for sale

Key features

  • Vacant city centre restaurant & bar
  • Lounge bar (40) Dining restaurant (75)
  • Gross Internal area 330sqm (3550 sq ft)
  • Fully refurbished 2022. Licence 8am - 3am
  • 25 year free of tie lease to 2046
  • Ideally located to the "Roodee" Chester racecourse. Energy Rating B
  • Christie & Co Ref: 5652064

Description

Description

Occupying the lower ground/basement of Chester's historic Watergate House, a Grade II Listed Georgian dwelling of colour rendered brick elevations beneath a pitched tiled roofline.

The property has been lavishly restored whilst retaining a number of original period style features to include; open-grate fireplaces, sash and brick bow windows, cast iron columns within cosy intimate vaulted ceiling rooms.

Location

The property is ideally located within the basement of Watergate House at the intersection of Watergate Street and Nicholas Street Mews, within 5 minutes walk of either Roodee Chester Racecourse or the city centre's main licensed and hospitality circuit.

Internal Details

Lounge/local's bar (40), served by corner mounted wooden bar servery, tiled flooring, original cast iron fire feature open to dual zone open-plan dining restaurant (75) with exposed wooden flooring. Fresh redecoration throughout. Overall gross internal area of some 330 sqm.

Fixtures & Fittings

All fixtures and fittings are to be included within the sale however, any items that are owned by a third party or personal to our clients will be exempt.

Ancillary Areas

Comprehensively fitted trade induction kitchen with adjacent pot wash area, staff room, manager’s office, beer cellar and cellar drop, large cold store and dry goods store. Services and appliances newly fitted in 2022 to a very high specification.

The Opportunity

Ideally located free of tie lease offered with vacant possession attractive rent of £21,000 a year.

Trading Information

Annualised 12 month management figures showed a net turnover of £685,000 with a gross profit margin of 71% achieved.

Trading Hours

The property has a licence from 8am - 3am 7 days a week.

Tenure

Leasehold. 25 year free of tie lease to 2046 with an annual passing rent of £21,000 per annum with 4 yearly reviews, subject to inflation only.

Business Rates

The Rateable Value is £36,250 with effect from April 2024. Confirmation of actual business rates payable should be obtained from the local authority.

Regulatory

The business has a licence to serve alcohol 08:00 - 03:00 7 days a week

Energy Performance Certificates

EPC 1

Brochures

City Centre Basement Bar & Restaurant, 85 Watergate Street, Chester, CH1 2LF

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Chester Station0.8 miles
  • Bache Station1.4 miles
  • Capenhurst Station5.2 miles

About Christie & Co, Pubs & Restaurants

Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

We’re the leading specialist advisor for buying and selling businesses in our sectors - hotels, pubs, restaurants, childcare, healthcare, convenience retail, leisure and medical.

If you’re looking to buy or sell a business in our specialist sectors – from a pharmacy in Sussex to a hotel in Austria – our expert advice and collaborative support will help you achieve your goals. You may be an independent first-time buyer or a multinational adding to your portfolio; either way, you’ll discover that our personalised service is focused on helping you achieve your ambitions.

Clients have access to our carefully managed network of potential buyers. This unique database of contacts has been continually developed by our advanced IT capabilities and benefits from both our years of experience developing our network and our wide geographical coverage.

Where we work

We employ the largest team of sector specialists in the UK and the largest group of hotel specialists in Europe, providing professional brokerage and advisory services from offices in major cities across Britain and Europe. And because we’ve been doing this for over 80 years, we know our sectors and local markets inside out. We work closely with our clients to guide and conclude transactions of any size, covering hotels, restaurants and pubs, leisure, forecourts and convenience retail businesses, social care and elderly care, childcare & education facilities, dental practices and pharmacies.

Our professional services

We offer unrivalled insight, experience and expertise across your choice of services, including brokerage, consultancy, finance, development, investment, surveying, rent reviews, dispute resolution, corporate valuation, and turnaround & recovery. These services are all underpinned by our in-depth market intelligence and leading-edge technology. And we’re accredited by the Royal Institution of Chartered Surveyors (RICS), so you can trust in our professionalism.

What makes us tick

Businesses are about people, so relationships matter to us. We bring an integrity and transparency to business which can be all too rare – and that’s why people trust us. Our clients will attest to our genuine desire to help achieve their objectives, our attention to detail, and our tireless hard work on their behalf. We understand that buying a business can bring its own pressures and strains; needs can change, plans may need to be adjusted, and opportunities can come and go. But we’re always here, a constant, flexible and reliable force you can count on.

Our opening hours for all offices:

Mon – Fri, 9am – 5.30pm

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 5652064-lh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co, Pubs & Restaurants. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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