Profitable Seafront Bar In St Leonards For Sale

Business description

LOCATION
The bar is located on the seafront of this popular and well populated seaside town. It is supported locally by a number of independent shops, estate agents, restaurants and bars. It is a lively location close to a train station and residential areas.

BAR
Main Bar - Internal width of 18’9 (5.7m) by 37’6 (11.5m) with seating for approximately 20 customers and standing room for many more. The bar is decorated to a high standard in a contemporary style with a mix of dining tables, sofas and bar stools. There is a high quality specification to the decoration, fittings and equipment throughout. Main items of equipment include: servery with stainless steel top, fully fitted mirrored back display; chill cabinets; glass-wash area; glass washer; Myway espresso coffee machine; Coffee grinder; Sharp programmable cash register high specification audio system, 42” plasma TV; 2 x 28” LCD TV’s; programmable lighting rig;. Leading to:

Rear Seating Area - about 18’9 (5.7m) by 13’9 (4.2m). With sofa seating and high quality glass-topped tables. Doors to Ladies and Gents cloakrooms. Stairs leading to:

Games Area - about 16’3 (5m) by 10’6 (3.2m) with pool table. Stairs leading to:

Mezzanine Area - 12’6 (3.7m) by 10’9 (3.2m) with 3 leather sofas and glass-topped table.

Kitchen - 14’6 (4.4m) by 13’9 (4.2m). with double stainless steel sink, hand wash basin, double deep fat fryer, 3 preparation tables, 3 microwaves, 2 fridges freezer, extraction hood, gas-fired boiler (recently fitted in early 2010), non-slip flooring.

Office - small office.

Walk-in Cold Room (currently used as drink store).

Outside - Seating area at the front for 14 people with cafe barriers and 3 high quality patio heaters.

Basement Nightclub - Accessed via a separate entrance, the club is currently unused and de-licensed. There is a small servery, Ladies and Gents cloakrooms and beer store. Leading to:

Cellar - Servicing the ground floor bar. Equipped with Phoenix ABC automated line cleaning system.

BUSINESS
The business is trading as a ‘multicultural’ bar with a range of international beers and with regular themed music events. It is a lively and popular destination for local residents, mature students and visitors to the area. Early morning breakfasts have recently been introduced.

Draft accounts for the period to March 2010 show takings (excluding VAT) of £152,303 producing a gross profit of £100,874.

LICENCE
The premises licence permits the sale of alcohol from 10:00 to 01:00 Sunday to Thursday and 10:00 to 02:00 Friday and Saturday.

STAFF
The two owners work in the bar with the assistance of 4 part-time staff (2 bar staff, a weekend chef and a cleaner.

TENURE
A 25 year lease from 2004 at a current basic rent of £20,800 per annum with three yearly rent reviews.

Property information

Property:

Leasehold

Other information

Inventory / Stock value:

£5,000