Business Summary:
LOCATION
Our client is located in an East Derbyshire town. Derby is 10 miles to the south and Nottingham 15 miles to the east. The A38 runs just North West of the town, linking to junction 28 of the M1 five miles to the north east.
The premises are located in the town centre, which benefits from several pay and display car parks.
The immediate vicinity is populated by a host of businesses including Sainsbury’s, Co-Op, Peacocks, Dorothy Perkins, McDonalds, and Ladbrokes and is also the base for Amber Valley Borough Council.
THE BUSINESS
Advent Business Sales are delighted to offer for sale this freehold public house/night venue, which has been trading for the last decade.
The current owners have been in ownership for 5 years. They have now decided to move onto an unrelated business venture.
Our client is a firm part of the evening bar circuit, which has formed on a Friday and Saturday night, as well as lunchtime trade for shoppers and locals.
The premises had several former uses including a retail store, bar, wine bar/restaurant and a first floor gym.
Prior to opening 10 years ago as a public house, the building was structurally and cosmetically refurbished.
Revenues are derived almost 100% of wet sales, which are split 33% draughts, 33% spirits and 33% from bottles.
There is the possibility of opening up a kitchen and providing lunch time and evening food. This would be an avenue if a new owner was a chef.
The busiest times of the week are Friday and Saturday nights. The vendor has informed us that on a Saturday night typically 1,000 people come through the door. The vendor has recently introduced a £1 entry fee.
Typical daytime custom consist of broad cross section of local people and visitors to the town of all ages whilst the late night venue side of the business focuses upon music and dance for the over 25’s.
The vendor uses security on the door on Thursday, Friday and Saturday nights – although this is not a condition of the licence.
If a new owner conducted their own security, net profits would be boosted with an additional £35,000 per annum.
The premises has a late trading licence from 10am – 3am for Thursday, Friday and Saturday and a 10am – 2am for Sunday, Monday, Tuesday and Wednesday.
The business has a capacity for 250 people, consisting of 150 people for the ground floor bar and 100 people on the first floor dance floor. The dance floor has a full DJ system with comprehensive modern disco lighting system and smoke machine.
There are 24 part time staff together with 2 full time directors. No more than 12 part time staff work at any one time.
A Local Authority license for the sale of alcohol and food for consumption on and off the premises, together with permission for music, dance and other prescribed forms of entertainment, within the permitted hours are held.
The business is free of tie but holds good trading relationships with Coors, Scottish and Newcastle and a number of local suppliers.
REF: 9063DE
TRADING HOURS
Mon: 10.30 – 4.30pm
Tues: 12 noon – 4.30pm
Wed – Sat: 10.30am – 4.30pm & 8.00pm – 1.00am
FINANCIAL INFORMATION
We have been advised by the vendor of the following:
Annual sales: £420,000
Gross Profit: £278,489
Net Profit: Adjusted £156,000 before tax, depreciation, finance costs and director’s remuneration’s
Accounts will be made available to interested parties after a viewing has taken place.
Please let us know if you require finance for the purchase of a business.
BUSINESS PREMISES
A 2 storey end of terrace building of which the original part dates back to 1890, with a further extension being completed during the 1990’s. In our opinion the internal is presented to a reasonable standard.
Ground Floor
• The ground floor effectively has a single trading area and is approximately 140 square metres. It has 2 AWP machines, a pool table, a punch bag, several TV screens and fixed and loose seating for approx 30 people.
• There is an attractive timber return bar servery with timber and mirrored back bar.
Lighting is provided by traditional ornate trading and wall mounted lights
• Ladies and gents w/c’s and separate disabled w/c
• A Purpose built cellar with thermostatic temperature control. It also contains the fully automated line cleaning system and has ample storage for all draught and bottled products.
• There is a former kitchen which has a bar servery opening into the rear smoking area. Subject to license, this could be restored to its former function of a kitchen or be used as a storeroom or clockroom.
• Timber stairs lead to the:
First Floor
• Bar which is approx 130 square metres with loose and fixed seating for approx 30 people
• Opposite the stairs is a timber bar servery with timber and mirrored back bar, adjacent to which is a slightly raised DJ booth. To the centre of the room is a timber dance floor protected to three sides by timber and brass balustrade. There is traditional and disco lighting.
The premises have:
• 2 punch bags on a 50/50 basis
• 1 quiz machine on 50/50 basis
• 1 pool table (rented) – owners take 100% and 3 owned outright AWP machines
Rear
A full enclosed and partially covered rear area, containing a purpose built wooden Pergola Smoking area with seating and Infra Red Heating. This area can accommodate approx 50 people.
Disabled access is also provided via the rear entrance and double doors.
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