The cocktail bar is located in the Seven Dials area which is surrounded by a densely populated residential neighbourhood and is in within easy reach of Brighton mainline railway station. In the surrounding area there are a number of retail and catering premises, making this a thriving parade of shops serving the local community and ensuring a high footfall of pedestrians throughout the year. The vendor has created an excellent business over the past year with excellent reviews on Trip Advisor (4.5*), Brighton Restaurant Guide (5*) and Google Reviews (4.7*). They have held a number of pop events, such as a cocktail master classes and have bookings through 2024 for hen parties. The vendor is only selling the business as she is in the process of relocating. There is significant opportunity to grow the business further by offering off-premises sales, increasing opening hours and expanding the current food offering.

PREMISES – The cocktail bar/restaurant is superbly fitted and underwent a complete refurbishment in 2022 and comes to the market in excellent condition. There is a custom-built cocktail bar which provides seating for 4 covers, with an additional 30 covers in the bar area and a further 30 covers in the restaurant area, which can also be partitioned off for private functions. All equipment is owned outright by the vendor and will be included in the sale. Also, on the ground floor is a small office space and access to the disabled toilet. The lower ground floor contains the men and women’s toilets, a storage area and a fully equipped kitchen which is fitted with full extraction. Within the kitchen there is a separate washing up area, food preparation space and cooking area. Access to the courtyard garden is from the ground floor via a staircase, which provides seating for an additional 50 covers.
LICENCES HELD Licence number – 1445/3/2023/02118/LAPREV
Late Night Refreshment 23:00:00 – 23:30:00 Monday-Saturday
Opening hours 10:00:00 – 00:00:00 Monday-Saturday, 11:00:00 – 23:00:00 Sunday
Sale by Retail of Alcohol 10:00:00 – 23:00:00 Monday-Saturday, 11:00:00 – 22:30:00 Sunday
TENURE: The entire premises are held on a full repairing and insuring lease which has approximately 11 years unexpired at a current rental of £32,000 per annum. The lease has the benefit of the 1954 Landlord and Tenant Act. The next rent review is due to take place on the 15th July 2024.

TURNOVER: The business is currently averaging £3,360 per week and full trading account are available upon request. The business currently trades Wednesday-Friday 4pm-11pm, Saturday 11am-11pm and Sunday 12pm-8pm. The vendor works full time in the business with the assistance of 1 full time and 1 part time staff member.

RATES: We have been verbally informed that the current rates payable amount to £450 per month and the rateable value is £29,000 per annum. Prospective occupiers should make their own arrangements to verify same.

GENERAL REMARKS: This business was personally inspected by the vendors sole selling agents. Points to Consider: The bar and restaurant is located in the popular seven dials area. Benefits from a high footfall. Surrounded in a densely occupied area. Outdoor seating in the garden to the rear.

PRICE: £89,999 SAV for the lease, goodwill, premises licence and all trade fixtures and fittings.

LEGAL FEES: Each party to be responsible for their own legal costs. The purchaser to pay 50% of the landlord’s legal fees.

VIEWING: On no account should any approach be made to the Manager or the staff without a prior appointment through the vendor’s agents, Watkins Commercial, Telephone:
01273 709090.

ENERGY PERFORMANCE CERTIFICATE: The premise was rated a band C, the full report available on request.

DISCLAIMER: Neither the Vendor nor the Agent gives or implies any warranty that the premises are fit for any particular use or that they comply with any relevant regulation or statutory requirement.

The agents have not tested any apparatus, equipment, fittings or services so cannot verify that they are in working order. The buyer is advised to obtain verification from their solicitor or surveyor before proceeding with the purchase.

VAT: All prices and rents are quoted exclusive of VAT. Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.

MORTGAGE & FINANCIAL PLANNING: We shall be pleased to assist any purchaser in arranging finance to acquire this business or any other business you may be considering subject to status.

Prop. Ref: 6773C

These particulars are believed to be correct but their accuracy is not guaranteed and they do not form any part of any contract

APPLICANTS CONFIDENTIALITY AGREEMENT

I understand and agree that any information regarding any business supplied to by Watkins Commercial will be kept strictly confidential. I also undertake that I will:

i) View businesses registered with Watkins Commercial by appointment only.
ii) Not contact any owner, staff, suppliers, competitors or customers of any business
registered with Watkins Commercial
iii) Not pass on any information supplied by Watkins Commercial to any third party other
than a professional advisor et. Bank, solicitor, surveyor accountant, etc.
iv) Submit any offers direct to Watkins Commercial with whom I will conduct all
negotiations
v) Be liable for any commission which would have been due to Watkins Commercial
should I be party to negotiations or actions which seek to preclude, or are contrary to
the interest of Watkins Commercial.