Leasehold Bar And Restaurant For Sale

Business description

Bag a Business Ltd is delighted to offer to the market this thriving bar, which has over 160 covers in two separate dining areas and is licensed until midnight Monday to Thursday and Sundays, as well as 1.00am on Fridays and Saturdays. The business was established by our clients in 1999 and is now only being placed on the market due to their other business interests. At present the Victoria Court Bar is tied to a brewery that require purchases of 200 barrels per year, but could be available completely free of tie. The bar achieves an excellent turnover of £301,185 per year achieving a gross profit of £170,123 per year. Victoria Court Bar has an excellent local reputation for its fine food and friendly atmosphere, because of this the whole premises are often booked on a Friday and Saturday evening for private functions and licensed for Sundays. There is potential for an outside decking area to the front of the building. This is an ideal base for a new owner to build upon, perhaps by reopening the onsite sandwich bar. Early discussions with Bag a Business Ltd must come highly recommended.

Property information

Property:

Leasehold

Lease terms:

Two leases
Lease one:
Original length: 25 years
Remaining length: 17 years
Review every: 5 years
Rent: £23,520 per annum
Service charge: £4,700 per annum
Lease two:
Original length: 10 years
Remaining length: 5 years
Review every: 5 years
Rent: £6,400 per annum
Service charge: £1,640 per annum

Living accommodation:

ACCOMMODATION DETAILS Well presented single storey premises, briefly comprising: GROUND FLOOR Reception . Former sandwich bar currently used as a store room . Main bar area with 120 covers for diners in two areas, one of which is raised and has a dance floor . Separate ladies', gents' and disabled WCs . Rear store . Rear entrance into main office block with further shared WCs and kitchen . Well fitted commercial kitchen with extraction unit . Store room with two ice makers and a glass washer . Office with controls for the 8 camera CCTV system. . Restaurant area with 40 covers and own section of main bar . Ladies' and gents' WCs . Cellar EXTERNAL . Covered porch . 5 car parking spaces

Location:

Victoria Court Bar is situated on the ground floor of a large modern office block and is adjacent to a fitness centre, as well as being situated within a wealth of complementary shops and businesses. There is ample on and off street customer parking. The business draws its trade from the densely populated surrounding area, as well as from the offices above. Southend-on-Sea is a popular seaside resort and is part of the ceremonial County of Essex, which is located on the north side of the Thames estuary approximately 40 miles east of central London. Southend became a popular seaside resort during the Georgian era. Owing to its proximity to London and easy access by train, the town's economy has largely been based on tourism ever since. There are nine railway stations within the borough boundary, serving the many Southend residents who commute to work in London. It enjoys excellent links via the A127, which connects to the M25 motorway.

Other information

Trading hours:

Sun - Thurs: 10.00am - 12.00am Fri - Sat: 10.00am - 1.00am