Spread over four floors, refurbished with practically no expense spared, this is a must see if you are interested in acquiring a prestigious venue which needs no money spent and is ready to go.
Get in quick and be in for the Christmas rush!
THE BUSINESS ITSELF
The vendors have identified a niche market which they are exploiting with minimal competition. The premises are not open to the general public and the ground floor bar is not used at all. The three rooms, in the basement and on the first and second floor, have been made into luxurious karaoke bars and are hired out specifically to the Chinese community of whom there are some 4000 in Norwich.
We are advised turnover is in the order of £3,000pw with minimal overheads as the vendor runs the operation with one assistant. The offering includes entertainment packages up to £500 as well as individual bottles of spirits and snacks.
In our opinion there is much scope for growth by either extending the current operation or returning to a traditional nightclub. The premises are of such a high quality they could easily be used during the day for business meetings, there is a terrace at the front where coffees etc. could be served.
There is a fire certificate, hygiene five star rating and license until 3am except Sunday which is until midnight.
The vendor opens when bookings are made to hire the individual floors. The business tends to be fully booked on Thursday, Friday and Saturday nights and occasionally during the week. With further aggressive marketing the premises could and should be in demand throughout the week.
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