Pub for saleSTAFFORDSHIRE
Ref 7808 LEASEHOLD
STYLISH AND CONTEMPORARY FREEHOLD BAR RESTAURANT AND MUSIC VENUE BEING OFFERED EITHER FREEHOLD OR 'FREE OF TIE' LEASE LOCATED WITHIN THE THRIVING STAFFORDSHIRE TOWN OF CANNOCK
Busy landmark corner location in the South Staffordshire town of Cannock close to Stafford, Lichfield and the walkers/cyclist's paradise of Cannock Chase in an area of natural beauty.
Open Plan Main Café-Bar & Restaurant trading area (occupancy 580) with adaptable stage area, purpose built DJ console/sound system etc, assorted stylish furnishings and fully air conditioned.
Enclosed rear Patio and Al Fresco drinking area (circa 100+) with tables, chairs, bench seating and attractive painted murals to the walls.
Fully equipped Catering Kitchen with 5* EHO rating.
Advised current sales circa £480,000 (incl. VAT) year ending February 2016.
Trade split 90% Wet Sales : 10% Food sales. Huge potential to re-introduce, develop and grow the food offer. Highly suitable for alternative use (STPP).
Desirable brand new Totally 'free of tie' Private lease (inc option to purchase) or Freehold.
AN EXCITING OPPORTUNITY TO PURCHASE A THRIVING STYLISH FREEHOLD BAR OFFERING FURTHER UNTAPPED POTENTIAL IN A BUSY TOWN LOCATION
This business is located in the populous and bustling Staffordshire town of Cannock situated close to county town of Stafford (10 miles) and the famous cathedral city of Lichfield only 13 miles away. Local points of interest include the National Trust Moseley Old Hall (8 miles) and the Shugborough Estate (10 miles). Nearby Chasewater Country Park, set in an area of natural beauty and perfect for a gentle stroll, bird watching, running, cycling or even a steam train ride is only 6 miles away. This is set in a picturesque countryside setting and covers 360 hectares, including some 90 hectares of water. The local motorway networks include the M6, M6 Toll, M5, M54 and A5.
Occupying a prominent main road corner location on the edge of Cannock town centre this impressive former TSB bank is of brick construction sitting under a flat concrete and ashfelt roof. An entrance porch to the front of the property provides access to the spacious open plan trading area.
Open Plan Bar Restaurant (occupancy 580 with circa 100+ covers externally) is a well presented spacious, light and bright contemporary area with full air conditioning and a warm welcoming atmosphere. Stylish loose tables and chairs and an assortment of leather upholstered settees, perimeter seating and leather tub chairs are complimented with poseur tables and high stools. The room has segmented areas of carpet and luxury amtico floor covering and music related posters and photographs adorn the walls. To one end is a slightly raised adaptable stage area with adjacent DJ console, lighting, sound, PA system and glittered dance floor. There is a well-presented central bar server of attractive plank wood construction offering 2 cask ales to service all areas. There is also a pool table, 3 wall mounted HDTV's (with Spotify) and 2 x AWP's.
There is a fully equipped Commercial Catering Kitchen on the 1st floor with 5* EHO rating and stainless steel appliances and surfaces (appliances not tested). This serves the ground floor trading area by way of a dumb waiter. There is a separate storage area for fridges and freezers etc.
Ground Floor Cellar with python, remote etc.
Ladies, Gents and accessible W.C's/ CCTV.
There is no owner's accommodation.
To the rear of the property is a good-sized flagstone and hard standing Al Fresco area (circa 100+ occupancy) with wooden benches, patio furniture and a heated and lit covered area. There is no car park however there is a spacious lined pay and display car park directly across the road.
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-Sun 11am to 2am
Current opening hours are:
Mon - Weds Closed
Thursday 7pm to 2am
Fri / Sat 11am to 2am
Sunday Private function hire
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.
The property and business is being offered for sale freehold (although we have not had sight of the title deeds) or as a new highly favourable 10-year Private FRI Lease Agreement as follows:
1. The asking premium will be £25,000.
2. The initial annual rent will be £35,000
3. The annual rental is simply RPI linked to inflation every 3 years, hence no rent reviews.
4. Rent payable quarterly in advance.
5. Lease re-assignable after initial 2-year period.
6. Free of all brewery and supply ties.
7. Each party responsible for own legal costs relating to the transaction.
8. Option to purchase the freehold within an agreed timescale (normally 3 years).
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 all available mains services are connected (no services tested). Business rates payable are advised as being circa £22,000 per annum.
Our clients purchased this Freehold property in 2006 and following major conversion and refurbishment created the 'nicest bar in town'. Due to personal reasons our vendor clients are now reluctantly selling on this freehold property. The
business is currently operated under a temporary management agreement on a wet only basis and there will be vacant possession granted on completion of the freehold sale. The business currently offers live bands, rock nights, a regular quiz night, karaoke and rotating DJ's perform on a regular basis. This is also a popular venue for hosting events such as christenings and private parties. Although the business already has a solid trading foundation it still offers new enthusiastic owner operators considerable potential to further increase the sales. In our opinion this could be achieved by extending the opening hours, introducing a brand new food offer complimented by selective wines and craft beers for example. We are advised that accounts declare takings of circa £480,000 (incl. VAT) for year end February 2016 with a sales split of 90% Wet : 10% Dry.
Further information can be found at: www.bankbarlive.co.uk
Limited accounting information will be made available to interested parties after viewing. The property 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 via 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.
Energy Performance Certificates (EPCs)
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