Bude, EX23 8BR
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Belle Vue Lane, Bude, EX23 8BR

Investment Property
Price £79,950

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Bar 35, Belle Vue Lane, Bude EX23 8BR

 
Points Of Interest
Key Features
  • LEASEHOLD
  • BUSINESS AS ONGOING CONCERN
  • BAR/MUSIC VENUE
  • ESTABLISHED BUSINESS
  • POPULAR COASTAL TOWN
Property Description

Additional Information

An opportunity to acquire a successful bar/music venue in the centre of this popular and vibrant coastal town. This established family owned business which has been built up over 11 years is being sold as a going concern with the sellers now wishing to pursue other personal interests.

The Premises    The premises has 2 entrance points and divided into 2 main bars with a games/seating area, office, kitchen and toilets. The whole ground floor extends to some 172 sq.metres (1852 sq feet). There is also a very cellar approached from behind the bar via a trapdoor and steps.

The Business    We are informed that the latest turnover for year end 2017 is just over £300,000. Further figures and accounts are available to interested parties following a viewing. The property is sold as a going concern to include all trade fixtures and fittings (except for a few personal items.) The large wide screen TV is hired from local electrical company.

Business Rates    We understand from the seller that with the small business rates relief they are not required to pay business rates.

Lease and Rent    On the current lease the annual rent payable is £26,000 but it is understood that the current owners have negotiated a lower seasonal adjusted rent which the any owners may be able to continue with an agreement from the freeholder.

Price    £85,000 plus stock at valuation on completion.

Fees    The purchaser will be responsible for the seller's legal fees to a limit of £850 + VAT.

Agents Note    Currently 2 Full time and 3 part time members of staff are employed and are available for consideration as part of any new owner.



Directions

From Bond Oxborough Phillips office on foot turn left out of our office and continue almost to the end of Queen Street and turn right into Belle Vue Lane whereupon the property will be found straight ahead of you on the right hand side.

Particulars

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