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Leasehold Bar Restaurant Located In Coventry For Lease

Coventry, West Midlands, UK
Asking Price:
£99,950 Furniture / Fixtures included
Sales Revenue:
Available on request
Cash Flow:
Available on request

Leasehold Restaurant & Bar located in Coventry City centre. Fully fitted with 100 covers. Free of tie with a late licence. Would suit many cuisines.

Veritas Business Sales are delighted to offer for sale this iconic Bar & Restaurant which is located in Coventry City centre. The premises has been a watering hole since the 1970’s and has been in the careful hands of our clients since August 2019 and is now, reluctantly being offered for sale because other business interests need their attention.
Since ownership they refurbished, redecorated and invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business owner operated with the help of 3 full time & 4 part time members of staff and pre COVID-19 was turning over circa £8,000 per week. The venue offers a open plan 100 cover restaurant that currently serves street food, along with a fully equipped bar that serves, draft beers, bottled beers, spirits and has a carved a great reputation for their cocktails. The spilt is approximately 60% dry and 40% wet sales.
This is a fantastic location that benefits from being free of tie, where all the hard work has been done. We believe that any new owner operator can make their desired changes and take this to the next level. The business already enjoyed a strong reputation within the local community and beyond and as such was receiving a high level of regular and repeat trade along with many visitors. This is a superb opportunity to purchase a ready made business which has untapped potential and is a great base to build upon and as such early viewing is highly recommended as this gem is not to be missed.

Property Information

Property:

Leasehold

Leasehold Type:
Existing
Lease Terms:

Lease term: 13 years
Remaining: 11 years
Rent: £25,000 pa
Reviewed: August 2022
Business rates: £6,700

Leasehold Rent:

£25,000 per annum

Location:

A fantastic opportunity to acquire this respected Bar & Restaurant which is located in Coventry City centre. Situated within a prominent and highly visible trading position opposite Coventry Train Station on Warwick Row. The immediate area is surrounded by an abundance of businesses, retail shops and residential properties, all of which bring high levels of footfall to the area.

Premises Details:

Ground Floor
Entrance door leading to a small vestibule.
Open plan bar/restaurant comprising: tables & chairs to cover (100), bar servery with EPOS till system x2, 3 x 2 door undercounter bottle fridges (Prodis), coffee machine (Blue Ice) ice grinder (Hendi), rear doors leading to a patio area.
Wash-up area with stainless steel sink drainer and shelf with housing the sound system (Adastra).
Commercial kitchen comprising: stainless steel sink drainer, wash basin, Oven (Merrychef), Combination oven (Eloma), 2 x upright fridges (Prodis), 2 x stainless steel tables, extraction canopy, 6 burner range, griddle, dual deep fat fryers, commercial microwave (Sharp), domestic microwave (Panasonic).
Hallway with chest freezer and shelving.
Storeroom with dishwasher and stainless steel sink drainer.

Basement
Boiler room
Large storeroom with chest freezer and fridge.
Main fully equipped beer cellar.
Dry stores with chest freezer.
Staff 2 x W/C’s with wash basin.
Office with CCTV monitor.
Gents W/C with 3 x urinals, 2 x wash basins, wall mounted soap dispenser and wall mounted dryer.
Ladies 4 x W/C’s, 2 x wash basins, wall mounted soap dispenser and wall mounted dryer.

External
Rear patio area with artificial grass. Rear parking for (1).
After 6pm additional parking spaces become available.




The property benefits from a CCTV (16 camera system) and an alarm
EPC Rating D

Energy Performance Rating:
D

Business Operation

Trading hours:

Monday – Thursday – 12:00pm – 9:00pm
Friday & Saturday –12:00pm – 11:00pm
Sunday – closed
Licensed until 2:00am

Other Information

Inventory / Stock value:
£1,000

Contact Information

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