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Upmarket Cocktail Bar Leicester

Leicester, Leicestershire
Status
FOR SALE
Advert ID
246802
Reference
6880 / Rightbiz
0161 763 5000
Leasehold Price: £149,950
Annual Turnover: £239,546
    City Centre Trading Location

    Annual Turnover £239,546

    Gross Profit £93,054

    Further Financial Info Available After Viewing

    Seating For 100 Across Two Floors

    Additional Seating For 16 To Front

    Cellar Bar Offered For Private Hire Events

    CCTV & Alarm Fitted Throughout

    Five Star Food Hygiene Rating

    Fantastic Online Reviews

    Scope To Expand Food Menu

    Potential For Longer Opening Hours

    EPC – D

Description:
REF 6880 – Leasehold Cocktail Bar
Blacks Business Brokers are pleased to bring to the market this leasehold cocktail bar located in the city centre of Leicester, Leicestershire.

INTRODUCTION
Manhattan34 Cocktail Bar was established in 2011 and our client took ownership in 2016 attracted by this enviable and prominent trading position in the centre of Leicester. The bar is very well known and has a strong base of regular customers in place as well as benefitting from a huge amount of passing trade. Our client has ensured the bar has an excellent reputation and excellent reviews are noted on Google, Facebook and Trip Advisor. Manhattan34 has a comprehensive website and strong social media following.

LOCATION
Manhattan34 occupies a prominent trading position within a parade of shops and offices. The area is densely populated commercially with neighbouring businesses including eateries, independent retailers and large multiples such as The Ramada. The Curve Theatre and The University of Leicester are also close by. Leicester is well linked by the M1 with strong public transport links and parking is available in the surrounding area.

REASON FOR SALE
This business is ideally suited to a hands on owner operator and due to a change in our clients home life circumstances and other business commitments this business is offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

LEASE
The building is available on a Full Repair & Insure lease (FRI lease). This is the most common form of commercial lease. The current lease is a fifteen year lease which began in 2011 at a cost of £500 per week.

STAFF
The business operates with a bar supervisor, one head bar tender and three bar tenders. The bar supervisor and head bar tender assist the owner whom is involved in the running of the business as a managing director.

FINANCIAL DETAILS
Manhattan34 has traded solidly since opening and our client has established a strong customer base. We are advised that the business currently has annual turnover of £239,546 with gross profits of £93,054. Full financial information will be available after a viewing.

BUSINESS RATES
The business has a rateable value of £7446.86. Purchasers should enquire with relevant local authorities to confirm the rates payable.

SUMMARY
This upmarket cocktail bar is well established and has gained a strong customer base, online following and enviable reputation. There is plenty of scope to develop the business further with the introduction of food sales, new drinks menu and additional cocktails/specialist beverages and longer opening hours. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Accomodation:
BUILDING LAYOUT AND DESIGN
Manhattan34 operates from the ground and lower ground floors of a prominent corner property in the centre of the city. The business has branding and signage on display above a glazing to both sides of the building and a central corner entrance. Inside, the main bar is presented to a very high standard and offers seating for sixty. The lower ground floor offers seating for a further eighty and this flow is often used for private hire events. There is a kitchen area which is fully equipped and excellently maintained. There are also ladies and gents toilet facilities, a staff room and large stock room.



Fixtures & Fittings:
Bottle Fridge x 4
Ice Machine
Epos Till System x 3
Card Machine x 2
Alarm System
CCTV
Domestic Fridge x 3
Freezer
Microwave
Grill


Opening Hours:
MON - THU: 16:00 - 00:00FRI & SAT: 12:00 - 01:30SUN: 12:00 - 22:00


Weekly Rent:
£500 Per Week. Weekly Rent:
£500 Per Week.
Listing Details
Location: Leicester, Leicestershire
Marketed By: Blacks Business Brokers Limited
Contact Agent
Telephone: Upgrade to view
Agent Name: Upgrade to view
Advert Reference: 6880 / Rightbiz

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