A TUDOR STYLE RIVERSIDE BAR & RESTAURANT BEING OFFERED ON A LONG ‘FREE OF TIE’ LEASE AGREEMENT
ASKING PRICE £99,950 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.
This characterful and renowned ‘free of tie’ leasehold Bar & Restaurant offers lovely river views and is only a 5 minute walk into the City Centre.
This successful business, which is featured in the Michelin Guide, is located in Worcestershire and attracts many visitors as well as being a bustling and sought after City.
There are a huge number of attractions surrounding the business and many of the shops and offices are a short walk away.
This City Centre & Riverside Bar & Restaurant is a property of brick construction, under a pitched tiled roof, occupying an excellent position in the heart of this sought after area.
The Lounge Bar & Restaurant (circa 80) is an open plan area located on the ground floor and benefits from flagstone floors, open fireplaces, central bar servery, beamed ceilings and doors to the courtyard garden.
The Cocktail Bar & Function Room (circa 50) is located on the 1st Floor and offers solid wood floors, bar servery, beams and lovely river views. This room is utilised for functions during the week and opened as a trendy cocktail bar during the weekends.
The Meeting Room (circa 16) has solid wood floors and is used as a meeting room or small function facility.
Ladies & Gents W.C’s x 2 including disabled facilities.
There is a large Commercial Catering Kitchen with stainless steel appliances (not tested) and work surfaces with a separate wash up and storage areas.
The Ground Floor Cellar henefits from coolers, python system and storage along with a lockable bottle store.
There is currently no owners accommodation but this could easily be put back into the original condition which included an apartment.
To the rear of the property is a Mature & Secluded Patio Terrace Area offering seating for approximately 60 customers and benefits from direct access into the trading areas.
There is also a Raised Wooden Decked Area (circa 30).
We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:
Sun – Thursday 11am – 11pm
Fri – Sat 11am – Midnight
Current opening hours are:
Tues – Thursday Midday – 11pm
Fri – Sat Midday – Midnight
Sunday Midday – 11pm
NB. Important: Prospective purchasers wishing to continue to operate the public house should ensure that they gain the APLH Qualification in readiness for their intended operation of the Public House.
The business is being offered for sale as a ‘free of tie’ lease assignment with approximately 18 years remaining of the full repairing, insuring and renewable agreement. We are advised that the business is free of tie for all products. We are informed that the rent is currently £50,000 with a rent review due in 2022. We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium – subject to the provision of the Landlord & tenancy Act 1954.
The property offers all mains services along with being heated with gas central heating (no services tested). Business rates payable are advised as being circa £14,990 per annum.
Our vendor client purchased this successful, busy and renowned business 14 years ago and has built up a strong and reliable trade over the years.
This successful and thriving business has an excellent reputation in the area and continues to attract a strong lunch and evening trade as well as being featured in the Michelin Guide over the last 4 years.
We are advised turnover for y/e 12/18 is circa £712,470 with a trade split of 50% food and 50% wet.
Accounting information will be made available to interested parties after viewing.
Viewing appointments must be made by contacting Guy Simmonds at firstname.lastname@example.org.
Details prepared: May 2019