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Bar & Lounge
Location: United Kingdom -> Norwich
Industry: Bars and Nightclubs > Nightclubs




Business Summary

Asking Price £85000
Location: Norwich
Lease: Open
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

contact damian on 07932695646


Financials

Asking Price Range:  < $250K
Gross Revenues:   $12,000
Cash Flow:   Seller Will Provide
Cash Flow Type:  Sellers Discretionary Cash
Seller Financing:  No

About The Business

Year Established:  2015
Number of Employees:  1 - 3
Relocatable:  No
Franchise:  No
Current Real Estate:  Leased
Property:  Property For Lease

About The Sale

Management Training and Support:  2
Reason For Selling:  Family reasons force sale




Print Listing Id: 700283439
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Related Searches: Bars and Pubs  >  Nightclubs  >  Other Bars and Nightclubs  > 

Also See: Franchise Opportunities > Franchise Resales > Business Brokers > Commercial Property For Sale > Commercial Property For Lease



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