Established & Iconic Liverpool Rehearsal & Recording Studios For Sale

Business description

Established & Iconic Rehearsal & Recording Studios with licensed bar

These famous and well established rehearsal studios were set up by the vendors almost 25 years ago in Liverpool to provide a productive and accessible platform for bands and musicians of all levels to rehearse in a studio/venue like environment. The vendors have spent a considerable ammount of time and resource building up the studios during this time and it now enjoys “legendary” status amongst many bands and music moguls, both big and small, as an intrinsic part of the Liverpool music scene. It is no exaggeration to state that the studio enjoy assocations with some of the biggest names in the music industry, such is its commitment to providing its services to enable local talent to develop.

The freehold premises have been subject to significant investment over recent years and they have had extensive renovations to maintain the character of the building and improve its appearance and infrastructure( circa £370,000). The vendors have also had to develop the interior fabric of the building to maintain the business revenue streams and provide the bands with the right environment to thrive in. The building is sub divided into the following revenue generators.

• 14 Rehearsal rooms ( 9 hourly booking studies and 5 long term studios)
• 110 Storage lockers for band equipment- current occupancy circa 65%
• 1 Demo Recording Studio Facility
• Equipment hire and accessories shop
• Fully licensed bar

The business ir run on a daily basis via a bookings diary. Payments are made either by Cash/BACS or Cheque.

Equipment:

The studios have built up an extensive array of high quality branded equipment in terms of staging and lighting rigs, sound gear(amplifiers, microphones, mixing desk, leads, stands etc etc.) instruments (keyboards, guitars, drums) and associated items, not to mention a demo/recording studio facility and licensed bar with WiFi.. All equipment and fixtures and fittings are included within the sales price.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

Asking price includes substantial freehold building circa £1.05 Million. Studio typically generates sales circa £150,000 p.a. with very good profitability for the vendors. There is a good level of equipment included within the business.

Property information

Property:

Freehold

Location:

The studios are housed within a superb iconic building in the heart of the city. The studios are situated over several floors and are suitably sound –proofed. Total floor space is circa 16,500 square feet.

The building is freehold with a value of circa £1.05 Million. It has many future use possibilities.

In addition to the rooms listed above the premises also have 4 toilets and several other storage rooms that are not fully utilised.

There is also planning permission in place to build 2 further floors containing apartments(7 Duplex Apartments). This repressents a significant and very real development opportunity to a new owner such is the desirable location of the building.

Business Operation

Competition / Market:

The studio has its own website but gets most of its income via repeat business and referrals such is its standing in the North West music scene.

Trading hours:

11.00 am-11.00 pm (seven days except Saturdays, closes at 7pm)

Employees:

The vendors both work in the business on a part time/ three quarter time basis through choice. The business now employs two full time studio managers and a part time cleaner so it is not a requiremtn that a new owner works within the business.

Other information

Support & training:

The current owners would be happy to provide full training and support at handover.