LEASEHOLD WINE BAR IN NORTH HAMPSHIRE TOWN
STYLISH A4 COCKTAIL BAR & LOUNGE
LICENSED FOR LIVE MUSIC
HOT BAR SNACKS, TAPAS SERVED
LICENSED TO HOLD UP TO 220 CLIENTS
ATTRACTS 30+ AGE GROUP
750 SQ FT INTERNAL AREA WITH 50 C0VERS
LOCATION:
Fleet is served by a fast main line service into London Waterloo. Close to Basingstoke, Farnborough, Aldershot and Farnham with easy access to the M3, Fleet has long been recognised as an affluent residential location. Named after "La Flete" the stream leading to Fleet Pond which supplied the Monks in Winchester with fresh fish in the 14th century, it is now the administrative and commercial centre for Hart District Council. Fleet has a growing population of 86,700 and was developed along the lines of the American grid system. The majority of the business being IT or hi-tech oriented. Fleet has good shopping and three supermarkets. The presence of Marks & Spencer, a new shopping mall housing Waitrose and a Fitness First health club serve a discerning local population. NatWest, Lloyds and Barclays are all close by. Fleet is an affluent area serving commuters to London plus four business parks. Crookham Horse Trials are held locally and along with North Hants Golf Club, the Basingstoke Canal which runs through the town, provide pleasant leisure amenities. At a recent Hart DC business forum "Vision of Fleet", proposals were put forward for a new small cinema, al fresco dining area/pedestrian area and a new gym to be created in the area opposite these attractive business premises.
BUSINESS:
A smart pre and post dinner town centre drinks venue for the discerning professional residents of an affluent North Hampshire commuter town. Close to local restaurants, the venue is accessible and occupies a prime trading position opposite the main public car park. Established by the Vendor in August 2009, weekly takings have already hit £4,000, averaging £2,500. Cocktails and themed music evenings are popular and live music evenings have also helped to attract and retain a growing customer base. Hot bar snacks are served and tapas have proved popular.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The Vendor has invested in a quality refurbishment of the interior which are presented in a contemporary style creating a smart, stylish ambience. The bar area is 60'0" (18m) in depth and 12'6" (3.8m) in width offering a useful internal area of 750 sq ft (68 sq m) with room for 50 covers. New roof lining has been fitted which includes soundproofing insulation. A concertina door assembly to the premises frontage folds fully to the side, creating a popular open space for customers to enjoy the warmer summer days and nights. There is a 36 sq ft (3.6 sq m) kitchen measuring 6'0" (1.9)m x 6'0" (1.9 m) and an office of the same size. The customer rest rooms have been fitted to a very high standard. CCTV cameras installed.
Note: Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
TENURE:
The premises are secured on a renewable, fully repairing
and insuring 10 year lease which commenced in July 2009 at a current annual rent of £30,000.There are 5 yearly rent
reviews with the next review due on 26 July 2014.
RATES:
The rateable value of the business premises is £7,300 with rates of £1509.71 payable in 2009/10.
NOTE:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.
SERVICES:
We understand from the vendor that all main services are connected to the property.
TRADE:
The Vendor advises that weekly trade is now averaging £2,500 per week with estimated gross profits of £60,000 (50%)
Please note that if a business is VAT registered, all figures exclude VAT.
The Premises Licence granted in July 2009 permits the following Opening Hours
Sunday - Thursday 11:00 - 24:00
Friday - Saturday 11:00 - 01:00
Christmas Eve and
New Year's Eve 11:00 - 01:00
Sale of Alcohol
Sunday - Thursday 11:00 - 24:00
Friday - Saturday 11:00 - 01:00
Christmas Eve and
New Year's Eve 11:00 - 01:00
STAFF:
There is one full time and one/two part time members of staff employed. In compliance with the Premises Licence, two SIA-trained door staff are employed from 20:00 hours until closing time on Fridays and Saturdays, as well as at seasonal times at weekends.
STOCK:
The vendor informs us that the value of the stock is approximately £3,000.
GUIDE PRICE:
The vendors are seeking £94,950 for the lease, business goodwill, fixtures, fittings and equipment, subject to inventory, plus stock at valuation.
LEGAL FEES:
Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.
COMMENTS:
Family illness forces a reluctant sale creating an exciting opportunity for the new owner to build on the solid foundations laid down by the Vendor.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.