Cocktail Bar & Restaurant in Birmingham City Centre - Prime Location Leasehold Opportunity
Birmingham, West Midlands
- Status
FOR SALE
- Date Submitted:
24/04/23
- Advert ID
512159
- Leasehold: £50,000
- Rent: £30,000
- Turnover: £300,000 (£5,769 Per week)
- Net Profit: On request
Key Features
- Prime Location
- Fully Fitted
- Attractive Business
- Currently Closed
- Accounts Available
- Adjacent to Multiple Retailers
- Small Business
- Vacant/Empty Premises
- Free of Tie Leasehold
- Established Business
- Close to Local Amenities
- Town Centre location
- High Turnover
Business Details
Cocktail Bar & Restaurant Birmingham City Centre
Leasehold Restaurant / Cocktail Bar Located in Birmingham City Centre
A3 Consent & Licensed
Location
This respected leasehold Restaurant & Cocktail Bar is located in Birmingham City Centre.
Situated next to Alexandra Theatre, just off of the popular John Bright Street containing numerous other bars and restaurants and just a few minutes walk from Grand Central Station
Leasehold Asking Price: £50,000 plus SAV
Business Description
The premises was secured in April 2022 and has been trading for almost a full year, since ownership a considerable amount of decoration, investment and refurbishment has taken place to get the premises to where it is - in a state where a potential buyer can move in straight away and start trading. All fixtures and fittings, which are bought and paid for are included in the sale price meaning a new purchaser will not need to spend any additional funds.
The business has been owner operated with the help of one full time and four part time members of staff with a turnover of circa £260,000 in its first year of trading.
The opportunities for enhanced growth are the opportunity to open on currently closed midweek days to take advantage of theatre footfall, grasp delivery markets such as Uber Eats and Just Eat (currently just using Deliveroo) with a strong takeaway option taking advantage of an envious potential takeaway radius. The premises is licensed to sell alcohol until 3am, 7 days a week - currently the premises is only serving until 11pm / midnight.
In a short time the business has established itself as a popular bar and restaurant where all the hard work has been done and is primed and ready for an operator to come in and succeed.
Opening Times
Monday & Tuesday – closed
Wednesday, Thursday & Friday – 5pm – 11:00pm
Saturday – 12:00pm – 12:00pm
Sunday – 12:00pm – 10:00pm
Leasehold
Term: 5 years
Remaining: 4 years (with a break clause at start of year 3)
Rent: £30,000 pa
Rates: 21,500 w/ 75% hospitality relief applicable (Rates are currently subject to a check and challenge valuation which is likely to reduce the valuation further)
Ground Floor
Restaurant area with tables & chairs providing a comfortable 60-65 covers, spacious dispense bar easily fitting 2-3 bartenders and space for 8 covers seated at bar, two spacious toilets, storage cupboard/office space
Fixtures and fittings:
20 tables w/ 50 chairs and additional boothed seating
8 x Tall Stools
3 X High Chairs
1 x large well cocktail station w/ two individual sinks
1 x Counter Sink
1 x Wooden Back Bar
Full Bar mounted Glass Storage Racks
2 x Bottle Fridges
1 x Domestic Freezer
1 x Domestic Fridge
2 x Class EQ Glasswash
1 x Nespresso Professional Standard Coffee Machine & Milk Frother
3 x Ipad 10 used as EPOS systems
1 x Hoshizaki Ice Machine
Kitchen:
1 x Salad Bar
1 x Commercial Microwave
1 x Lincat Convector Oven
2 x Lincat Standing Deep Fat Fryers
1 x Williams Double Door Commercial Fridge
1 x Williams Triple Door Commercial Fridge
1 x Heat Lamp / Heated Gantry
3 x Commercial Hotplate
1 x Commercial Blender
1 x Prep Sink
3 x Chest Freezer
1 x Commercial Griddle
1 x Double Panini Press
3 x Stainless Steel Units
Multiple Storage Units for Dry Stock
1 x Hot Water Storage Boiler
Self Contained KP Area containing sink and storage
Fully stocked crockery, cutlery, pots, pans and various relevant kitchen equipment.
The premises benefit from CCTV (15 camera system), AirCon/Heating, Fully integrated sound system and amp and electric roller shutter to the frontage.
External
Space for cafe seating for approx. 3-4 picnic style/size tables.
Contact Simon - (available on request)
Map
What's Nearby
Listing Statistics
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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