Bars for sale in Ormskirk

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Modern Bar In Ormskirk, Lancashire

Ormskirk, Lancashire, England

  • Leasehold Price: £79,995
  • Annual Turnover: £170,319
  • Annual Gross Profit: £91,048
Seller Reference: 6535
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Business Description
 
 
 
 
 
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Seller Reference: 6535
Request Details
Business Description
Town Centre Market Location
Accounts Available 30th April 2019
Annual Turnover £170,319
Gross Profit £91,048
£55,000 Refurbished In 2017
Substantial Investment In F&F
Strong Online Reviews
Close To Edge Hill University
6 Point CCTV Fitted
Scope To Introduce Food Sales
5* Food Hygiene Rating
Potential For Private Event Hire
EPC - E
REF 6535 – Leasehold Bar

Blacks Brokers are pleased to bring to the market this leasehold bar located in a busy and much sought-after area of Ormskirk, Lancashire.

INTRODUCTION

Mylo & Co has been trading on Burscough Street since 2017. Our client established the business after noticing a lack of licensed premises in this area of Ormskirk. The business has soon become a well known, busy bar with a good base of regular customers. Our client invested heavily in the refurbishment of the premises in 2017 to create a modern, quirky and well equipped bar offering cocktails, craft ales, draught beers and a large spirits selection – gin proving to be particularly popular in this area. The bar features a popular comedy club on Sunday evenings and offers live music on Fridays. Mylo & Co has a good online presence and social media following with excellent reviews on Google, Facebook and Trip Advisor.

LOCATION

The business occupies a prominent trading position within Ormskirk’s town centre. The area is well linked by the M58 and excellent public transport links are nearby including Ormskirk Train Station. Parking is available in the immediate vicinity. Ormskirk is a growing and bustling town filled with a range of shops from small independents to large multiples including McDonalds and M&S Food.

REASON FOR SALE

The business is suited to a hands-on owner-operator but is offered for sale due to the demands of our client's other business interests being higher than anticipated. 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 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 fifteen years with rent reviews every five. The current lease began in 2017 at a cost of £307 plus VAT per week. Please note, the rent increases by £500 per year.

STAFF

The business is currently operating with two members of staff employed on a full time basis supporting our two clients working on a full time basis. Staff are reliable and experienced and can offer a smooth transition for clients and the new owner - giving reassurance that the momentum of success can be continued under new ownership.

FINANCIAL DETAILS

Mylo & Co has made a solid start to trade and has had a profitable first year. Since then have pushed on we currently have the 2019 accounts on file. We are advised that the business currently has annual turnover of £170,319 with gross profit of £91,048. Full financial details are available upon viewing.

BUSINESS RATES

The rateable value is £3,500. Purchasers should enquire with relevant local authorities to confirm the rates payable.

SUMMARY

This leasehold business is newly refurbished and trading well within the first year. There is plenty of scope to develop the business further with the introduction of food, more themed nights and sports coverage. There is also potential for private event hire and additional use of the first floor and cellar. 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 and are welcomed by appointment only. Fixtures:
7 Pumps bar (space for 10)

Against the wall leather soft/bench

Tables

Chairs & stools

2x Double drinks fridge (under counter)

2 x Single drinks fridge

Glass washer

Blender

EPOS till

Bottle cooler

50Ó Panasonic TV (6 months old)

CCTV (6 points)

Coffee station
Trading hours:
Sunday – Wednesday: 12pm – 12:30am
Thursday – Saturday: 12:30pm – 1am
Tenure:
Leasehold
Is accommodation included?:
Mylo & Co operates from a spacious and well presented mid terraced property within a parade of shops. The business is very nicely branded with classic signage displayed above a fully glazed frontage. Inside, the bar is finished beautifully with wooden flooring throughout, leather bench seating and stools and quirky décor. The bar is positioned to the rear of the space and is fitted with ten beer pumps, double drinks fridges, glass washer, blender and EPOS till. The bar offers standing room for up to seventy and seating for thirty five. CCTV is fitted throughout and a 50” Panasonic TV is wall mounted. There is also a kitchen area, service area to the rear and cellar used for storage at present.

The first floor is currently used as a storage area and toilet facilities are also within this floor.
Location Details:
Ormskirk
Leasehold Term:
£307 + VAT Per Week
Listed by:
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