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Popular Bar & Restaurant Manchester City Centre

City of Manchester, Manchester
Leasehold Price:
£299,950
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
247520
Reference
6925 / Rightbiz

Details

    Prominent City Centre Location

    Five Star Food Hygiene Rating

    Accounts Available Year End 31st July 2018

    Annual Turnover £378,589

    Gross Profit £199,760

    Accounts Available After Viewing

    Licenced Until 4am

    Scope To Extend Opening Hours

    Total Seating For 80 Inside

    Alfresco Dining Area For 50

    Fantastic Online Reviews

    EPC - TBC

Description:
6925 Popular Bars & Restaurant in Manchester City Centre
Blacks Business Brokers are delighted to present to the market this leasehold bar and restaurant operating within the heart of Manchester City Centre.

INTRODUCTION
Stage & Radio was established by our client in this busy City Centre location in 2016. The business 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 due to this excellent trading position. Our client has ensured the business has a superb reputation and five star reviews are noted on Google, Facebook, Open Table and Trip Advisor. Stage and Radio also has a five star food hygiene rating.

LOCATION
Stage & Radio occupies a prominent trading position in the popular Norther Quarter area of Manchester City Centre. The Northern Quarter is host to a variety of busy bars and restaurants and has some of the liveliest music venues in the centre. The business is just a short distance from the City's well known Arndale Shopping Centre and has good public transport links.

REASON FOR SALE
The business is ideally suited to a hands-on owner-operator but due to our client’s other business interests which are out the area the business is offered for sale and 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 competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is a twelve year lease which began in 2019 at a cost of £961 per week.

STAFF
The business operates with two full time and two part time members of staff in employment supporting our client working on a full time basis. Our client also has six casual staff members to help at weekends.

FINANCIAL DETAILS
Stage & Radio has traded solidly since opening and our client has established a strong customer base. The accounts ending 31st July 2018 show a turnover of £378,589 and strong gross profits of £199,760. Full financial information can be made available after viewing.

BUSINESS RATES
The current business rates payable are £2,400 Per Annum.

SUMMARY
This is a stunning restaurant and bar which has been finished to a high standard. It occupies a prominent trading position in a busy area of central Manchester. There is plenty of scope to develop the business further with the introduction of longer opening hours as the business is closed currently two days a week and although is licenced until 4am is not open until this time every day. There is also potential to expand the menu further - maybe introduce a breakfast menu. A new owner could also introduce Uber Eats and Deliveroo to boost takings further. 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
Stage & Radio operates from a large four storey end of terrace property. The business has branding and signage on display above a fully glazed frontage. Upon approach the business has al-fresco dining at the front for up to 50 customers - this is an incredibly popular area of the business with customers, especially in the summer months.

Inside, the main dining area offers seating for forty and is well presented throughout with wooden flooring, neutral décor and a bespoke wooden bar which is placed to the rear.

On the first floor is a newly renovated restaurant area which has seating for a further forty customers. The kitchen is also located on this floor and is fully equipped with a pizza oven, commercial fridges/freezers and much more. There are also ladies and gents toilets located on this floor.

The second floor of the building is one large room which is currently used for storage. This is an area a new owner could expand into if desired.
The building also has a basement area which is used as a nightclub and holds up to one hundred clubbers. This area is equipped with a small bar and DJ booth. There are also ladies and gents toilets located on this floor.



Fixtures & Fittings:
Tables
Chairs
Wall Art
Bar Equipment
Cellar Units
Coolers
Sound System
Pizza Oven
Fridges
Freezers
Dishwasher
Glass Washer
Coffee Machine
Drinks Display Fridge


Leased Items
Epos Till
Ice Machine


Opening Hours:
MON & TUE: CLOSEDWED: 14:00 - 00:00THU - SAT: 14:00 - 04:00SUN: 14:00 - 22:00


Weekly Rent:
£961 Per Week. Weekly Rent:
£961 Per Week.
Seller Details
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Listing Details
Leasehold Price: £299,950
Tenure: Leasehold
Sector:
Financials
Annual Turnover: £378,589
Location Statistics
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Listing Statistics
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