Bar/Nightclub and Live Music Venue Business Lease Sale.
Bar/Nightclub and Live Music Venue Business Lease Sale.
Overview
Description
Business
Please quote reference B07903
CoGoGo are delighted to welcome to the market North Street Social a highly rated opportunity based in the historic City of Wolverhampton.
This business was established by our client’s in 2022 building up and excellent reputation and extremely loyal customer base.
North Street Social now comes to the market due to our client’s interest to explore new ventures.
The business is well known locally and loved in the town and has many regular customers, the bar is very much a social hub within the community with its popular events. The business also benefits from high levels of footfall and passing trade due to the location and work with well established promotors and event management companies.
Key selling points –
- Excellent reputation
- High footfall location
- Staff in place
- Scope for expansion
Scope for further growth –
- Extend trading hours
- Increase advertising and marketing
North Street Social are known for being a fantastic place to bring all of your close friends and use it as a form of escapism from everyday life, being surrounded by the laughter of others, the ablaze lighting and Live DJs, who can switch from playlist to playlist just by reading the room and using their unique flare to make it even better, essentially allowing you to forget reality and live in the moment.
Location
North Street Social is located within the busy town centre of Wolverhampton, just 30 meters away from Wolverhampton’s 3600 capacity music venue, which is managed by the AEG ‘ The Halls’ and only 0.5 miles away from Premier league club, Wolves stadium and The Molineux.
The business is fully branded and signed with modern design style fascia and box light signage attracting customers all over the city.
Premises
North Street Social occupies a 3 floor premises with the 1st and 2nd being fully licensed, holding a capacity of 280 people and the 3rd having 8 offices.
The business is fully furnished with the following:
- 360 degree brass bar
- Booth seating and furniture
- Decorated with unique graffiti art
- Neon signage
- Greenery and mood lighting
- Full kitchen with extraction
- Commercial Fridges, fryers and Hotplates
- Full cellar cooling unit & 18 Tap draught installation
- P.A / Large scale sound system (on both floors)
- Various live music equipment Mics, stands, DI boxes, XLR Cables, Multicore ETC
- Both floors include a stage, DJ booth & full club/live lighting rig
- 1st floor has 2x 65inch 4k screen install
- Fully kitted behind bar set up, with bottle fridges, post-mix dispenser, EPOS System, Glass washers, ice wells, freezers (on both floors).
Tenure
This business is being sold on a Leasehold basis with a 7 year lease, we are advised a rolling extension inside the Landlords Tenants Act is available, with a full alcohol and Late Night Entertainment License.
The current rent is £35,000 per annum.
Hours
The current opening hours are:
Monday to Thursday – Open for house events, ‘The Halls Gigs and Wolves home games only.
Friday – 7:00pm to 2:00am
Saturday – 7:00pm to 2:00am
Sunday – Closed
Alcohol license hours run from:
Monday to Thursday – 12:00pm to 1:00am
Friday & Saturday – 12:00pm to 3:00am
Sunday – 12:00pm to 12:00am
Staff
The business is run and managed by 1 full time manager who manages the diary for Club Events, Brunch Parties, Private Events, Corporate Bookings and Live Gigs working with well established promotors and event management companies.
They are also fully staffed from Supervisory level to Bar Staff with In-House SIA security, a maintenance/cleaning company plus they have a managed resident DJ rotation.
Financial Profile
This business generated a turnover of £470,000 in 2023. Full financials can be made available upon further request.
Is this business relocatable:
Is stock included:
Listed By:
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