Pub for sale in Stockton on Tees: The Riverbank on High Street
Stockton on Tees, County Durham
- Status
FOR SALE
- Advert ID
634606
- Reference
219922677 / Rightbiz
- Call Agent:
- Leasehold: £75,000
- Rent: £24,000 (£2,000 per month)
- Turnover: £468,000 (£9,000 per week)
- Profit: On request
Business Details
The Riverbank, High St, Stockton on Tees TS18 1BD
Parker Barras are delighted to offer following highly successful and popular licensed premises on Stockton High St. The Riverbank has been trading for 3 years but was previously traded as The ClockTower for the 8 years prior.
The pub which is mostly staff ran, it currently trades as follows.
Tuesday - 12pm - 10pm
Wednesday 12pm-12am
Friday - Saturday 12pm - 3am
Trading at around £9,000 - £10,000 per week. There is huge scope for further increased sales with increased opening hours.
Currently Licensed as follows..
Opening hours
9am - 2am Sunday - Thursday
9am - 3am Friday - Saturday
Hours for supply of alcohol sales
10am - 1:30am Monday - Thursday
10am - 2:30am Friday and Saturday
12pm-1:30am Sunday
The property it occupies is held on a lease with 9 years remaining and 1 remaining break clause in 2029. The rent is £24,000 VAT per annum.
Comprised of a ground floor seating/bar area with some exterior seating at the front of the property for 6 tables and 18 chairs. There is raised level on this floor for dancing. The further 2 floors are a 1 bedroom flat and a 3 bedroom flat on the top floor. The full property is £24,000 Per Annum VAT and the lease is to be assigned.
A dumbwaiter is installed form the ground floor to the first floor which could enable potential for a kitchen conversion and a further offering of food alongside the already successful drink products.
Accounts are available upon request.
An overall great pub in a popular town centre location trading successfully with further scope to increase offerings and opening hours to increase takings.
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For Sale - £75,000
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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.
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Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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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.
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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.
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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.
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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.
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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.'.
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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.
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