Restaurants for sale in Hartlepool

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Restaurant/Bistro /Cocktail Bar in Affluent Marina Development

Hartlepool, Durham, England

  • Leasehold Price: £260,000
  • Turnover: £700,000
Seller Reference: B05695
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Business Description
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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Seller Reference: B05695
Request Details
Business Description
Business
Hilton Smythe are delighted to present to the market a new and exciting independent bar Wallis & Co Bar & Kitchen.

Our clients have invested in the region of £165,000 transforming the previously empty shell into a stunning bar which offers an unrivalled choice of beers, lagers, cocktails and restaurant.

The business is offered with low rent and zero business rates.

At Wallis & Co’s their mission is to serve amazing food and drinks using the freshest produce, presented with style.

Whether it’s a full English breakfast, a latte, lunch, dinner or after-work drinks you’re looking for, Wallis & Co Bar & Kitchen have the perfect environment for a relaxing drink and meal.

At the Wallis & Co cocktail lounge, their customers enjoy extensive range of classic, quirky and contemporary cocktails, all of which have been specially created by Wallis & Co Bar & Kitchen as well as their wide range of premium wines and spirits from behind the bar.

Rarely will a bar of this standard become available with such low overheads and excellent Town Centre position and would we strongly recommend any serious buyer to make immediate enquiry to avoid disappointment.

Viewing Strictly via Appointment.

Location
Wallis & Co Bar & Kitchen is ideally situated on the vibrant Navigation Point. A luxury development featuring restaurants, bistros, shops and exclusive apartments on the northern tip of Hartlepool Marina.

The area benefits from excellent footfall, with generous free parking immediately outside the premises.

The town lies on the North Sea coast, 7.5miles north of Middlesbrough and 17 miles south of Sunderland.

Premises
The business premises are substantial and need to be viewed to appreciate both the size and the opportunity they present.

The premises briefly comprise;

Bar
There is a beautifully presented and maintained bar.


Restaurant

Also included in the sale is a popular restaurant business which is fitted out fastidiously with a real high end feel and comprehensively equipped catering kitchen.

Kitchen and all equipment to the approximate cost of £25,000. equipment including ovens, extraction system, fridges and other associated kit.

Fit out of Cocktail Lounge to very high decorative standard to the cost of £70,000. All built from scratch in 2017 inclusive of HVAC, fixed upholstered seating, decorative lighting, bar area, stainless bar system, fridges, glass wash machine, Ice machines etc.

Fit out of Restaurant area to a high decorative standard costing around £70,000. Also built from scratch in 2015, and recently refurbished in July 2019. Bar area & associated equipment, coffee machine, boiler, decorative lighting, fixed upholstered seating, tables & chairs, numerous decorative features.

The business also has good quality website & social media platforms with a high following. Also has good rating on google and uses open table to take bookings.

Tenure
We are advised the business is being sold as a Leasehold.

 

Original lease length:10  years.

Remaining lease length:8  years as of 2019.

Rent: £32,000 per annum.


  • No Business Rates.



Hours
The business opens:-

 

Monday Closed

Tuesday, Wednesday 12 noon to 10.00pm

Thursday and Friday 12 noon to 11.40pm

Saturday 9.00am to 11.40pm

Sunday 9.00am to 10.00pm.

Staff
The business is run and managed by the help of 5 full time and 15 part time members of staff.

Financial Profile
Wallis & Co Bar & Kitchen generated an advised turnover of circa £700,000, with a great net profit and fanatic asset value.

Tenure:
Leasehold
Listed by:
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