Reduced Asking Price - vanity bar & lounge Norwich is located on the popular prince of wales road in norwich
Asking Price WAS £85000 ,NOW £75,000
Rent: £30k P/A
Rates: £13k P/A
Undoubtedly this is one of the best appointed high class operations in Norwich. Currently open only to a niche market and not to the general public, there is massive scope for a full time working owner to really make their mark and make a lot of money too.
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.
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.
This is probably the most luxurious club/bar on Prince of Wales Rd. The previous owner spent nearly £250,000 refurbishing the premises and it shows in the quality of the fixtures and fittings throughout. As you enter on the non slip floors, through the floor to ceiling doors with mood lighting, you enter the bar with chandeliers, gilt mirrors that are also T.V.'s and cannot fail to be impressed by the opulence. The bar stretches nearly from front to back and is fully equipped with five Polar treble ambient drinks fridges, new EPOS, Top of the range fittings and quality oozes through the entire premises to get the clients in the right mood. The dark wooden floors on every level offset the lavish wall decorations and the feeling of space. To the rear are ladies, gents and disabled w.c.'s. There is a small utility room with ice maker and glass washer.