Very Profitable 4am Clapham Bar Leasehold or Freehold For Sale

Business description

This venue has been voted 3rd best bar in London in an Evening Standard online poll
It's a very profitable bar/club in an area of the highest concentration of 25-35 yearolds in the UK.
The key staff are keen to stay to keep the operation running like clockwork
Pre tax annual profit of £85,000.
4am licence Friday and Saturday
2am Sunday to Thursday
Public Entertainment licence for live bands of any number.
Planning permission granted for the use of the 1st floor as an extension of the licensed premises.
Total capacity of over 300
5,000 square feet over 4 floors.
Option to purchase leasehold or freehold.
GP 74%
4bedroom flat on 2nd floor
Large kitchen
Huge loft that could be converted into penthouse apartment
Fixtures, fittings and sound system included
Full accounts, scale plans and further information available on enquiry

Property information

Property:

Leasehold

Lease terms:

Expires October 2022
Tied for beer, cider, bag-in-box and alcopops.
No rent review until October 2012

Leasehold rent:

£67,000 per annum

Living accommodation:

4 bedroom flat included

Location:

Located on a busy road in Clapham
Next to major supermarkets and cafe
5 minutes walk from Clapham Common

Premises details:

A victorian building with cellar, ground, 1st and 2nd floors. + large disused loft
Fully sound insulated

Size in square feet:

5,000

Other information

Expansion potential:

Planning permission has been granted to develop first floor as a fully licensed function room with a 3am licence Fri/Sat and 2am Sun-Thurs
Premises are not currently open during the day. So potential to add lunch trade 7days a week.
Large kitchen is not being used at all for commercial purposes.

Planning consent:

Planning permission has been granted to develop first floor as a fully licensed function room with a 3am licence Fri/Sat and 2am Sun-Thurs.
This would add approximately 120 to the premises' capacity.

Competition / Market:

5 minutes walk from Lost Society and Artesian Well. Tesco have identified the area as a hotspot and are opening a store opposite within next 6 months

Support & training:

Full support from seller Promotions manager and bar manager keen to stay on and in fact want to invest in the venue too.

Reasons for selling:

Planning to go travelling for a long time with my girlfriend

Trading hours:

7pm-4am Friday and Saturday
7pm-2am on weeknights
Licensed from midday during the week and from 11am at weekends hence potential for added lunch trade.

Financing available:

To be discussed

Furniture / Fixtures value:

£10,000 (included in the asking price)

Inventory / Stock value:

£11,000