Asking price: £125,000

Sales revenue: < £200k

Net profit: < £100k

Fixtures value: £50,000

Stock value: Undisclosed

Business description
Limited company, 2 years old, Assets circa £700,000, 1 Bar, 1 Night Club, Tattoo Studio, Recording Studio,Huge Courtyard, Food Bar Liabilities £550000 including redemption of mortgage on property. Annual Liabilities £41000, income from rents £60,000. Property mortgaged, redemption penalty until 2012, thereafter redemption of £350,000.00. Rents easily cover mortgage payment and insurance costs are covered by tenants. Substantial building, Grade II Listed. An excellent opportunity for minimal investment. All fixtures and fittings valued at over £50,000 included. All tenants on rolling 12 month deals, 3 months notice to quit, and will sign long leases if required. The potential of this building is no where near at its maximum. Close to local College and town centre amenities.

Years established: 2

Employees: 0

Trading hours: N/a

Relocatable: This business can be relocated.

Property: Freehold

Location
Town Centre Blackburn

Expansion potential
The Building has 2 floors undeveloped which would be ideal as residential or office space. This would increase rental income substantially.

Competition / Market
None, Unique opportunity

Support & training
None required

Reasons for selling
Looking to re-invest elsewhere

Financing available
Yes, property already has a commerical mortgage in place, Interest only, so a change of directors and share transfer is all that is required.