Well Fitted Wine Bar with Function room in Vauxhall For Sale

Prominent trading position, residential, office and commercial area, SW LONDON VAUXHALL

Turnover £ 8,000
Price £190,000

Features

Well Fitted Wine Bar (with Function Room)

LICENSED FOR 330 people (over 2 floors)

2 DAYS OPENING.

LARGE BAR. Air conditioning with hot air. 2 EPOS tills. Tables and chairs providing seating for 24 persons. CCTV system (18 cameras, 2 monitor),

Large Storage area

Stairs to BASEMENT FUNCTION ROOM (Licensed 165 persons). Tables and chairs providing seating for 90 persons.

Dance Floor, with neon lights speakers, additional lighting.

DJ Booth with Pioneer music equipment.

Ladies' & Gentlemen's toilets with w.c. and wash hand basin.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £8,000 p.w. with a Gross profit of 60% approx., in our opinion offering tremendous potential for further development in the right hands.

Staff

The business is at present operated by the vendor with 4 bar staff & 6 security personnel.

Trading Hours

1 Day week
SATURDAY 11 p.m - 4 a.m

It will be appreciated upon inspection that there is terrific potential for additional opening hours. (The premises have a 2.30 a.m Licence Sunday - Thursday which is not currently utilised)

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 25 years in 2020 with reviews every 5 years (next review 2025) at a current rent of £80,000 p.a. + VAT

Business Rates from April 2022 £20,000 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2021 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £260,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 95,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote