Lease Sale of Established Bar, Nightclub and Live Music Venue in Wolverhampton
Wolverhampton, West Midlands
- Status
FOR SALE
- Date Submitted:
14/03/24
- Advert ID
608254
- Reference
B07903 / Rightbiz
- Call Agent:
- Leasehold: £199,995
- Turnover: Not Applicable
- Net Profit: Not Applicable
Business Details
Bar Nightclub and Live Music Venue Business Lease Sale.
BusinessPlease quote reference B07903
CoGoGo are delighted to welcome to the market North Street Social a highly rated opportunity based in the historic City of Wolverhampton.
This business was established by our client's in 2022 building up and excellent reputation and extremely loyal customer base.
North Street Social now comes to the market due to our client's interest to explore new ventures.
The business is well known locally and loved in the town and has many regular customers, the bar is very much a social hub within the community with its popular events. The business also benefits from high levels of footfall and passing trade due to the location and work with well established promotors and event management companies.
Key selling points -
- Excellent reputation
- High footfall location
- Staff in place
- Scope for expansion
- Extend trading hours
- Increase advertising and marketing
Location
North Street Social is located within the busy town centre of Wolverhampton, just 30 meters away from Wolverhampton's 3600 capacity music venue, which is managed by the AEG ' The Halls' and only 0.5 miles away from Premier league club, Wolves stadium and The Molineux.
The business is fully branded and signed with modern design style fascia and box light signage attracting customers all over the city.
Premises
North Street Social occupies a 3 floor premises with the 1st and 2nd being fully licensed, holding a capacity of 280 people and the 3rd having 8 offices.
The business is fully furnished with the following:
- 360 degree brass bar
- Booth seating and furniture
- Decorated with unique graffiti art
- Neon signage
- Greenery and mood lighting
- Full kitchen with extraction
- Commercial Fridges, fryers and Hotplates
- Full cellar cooling unit & 18 Tap draught installation
- P.A / Large scale sound system (on both floors)
- Various live music equipment Mics, stands, DI boxes, XLR Cables, Multicore ETC
- Both floors include a stage, DJ booth & full club/live lighting rig
- 1st floor has 2x 65inch 4k screen install
- Fully kitted behind bar set up, with bottle fridges, post-mix dispenser, EPOS System, Glass washers, ice wells, freezers (on both floors).
Tenure
This business is being sold on a Leasehold basis with a 7 year lease, we are advised a rolling extension inside the Landlords Tenants Act is available, with a full alcohol and Late Night Entertainment License.
The current rent is £35,000 per annum.
Hours
The current opening hours are:
Monday to Thursday - Open for house events, 'The Halls Gigs and Wolves home games only.
Friday - 7:00pm to 2:00am
Saturday - 7:00pm to 2:00am
Sunday - Closed
Alcohol license hours run from:
Monday to Thursday - 12:00pm to 1:00am
Friday & Saturday - 12:00pm to 3:00am
Sunday - 12:00pm to 12:00am
Staff
The business is run and managed by 1 full time manager who manages the diary for Club Events, Brunch Parties, Private Events, Corporate Bookings and Live Gigs working with well established promotors and event management companies.
They are also fully staffed from Supervisory level to Bar Staff with In-House SIA security, a maintenance/cleaning company plus they have a managed resident DJ rotation.
Financial Profile
This business generated a turnover of £470,000 in 2023. Full financials can be made available upon further request.
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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Contact seller
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.
Be safe, use a Rightbiz Solicitor
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