Business for Sale in Norwich, Norfolk NEW PRICE! ASIAN STYLE KARAOKE BAR – NORWICH CITY CENTRE, NORFOLK (NR1)

Key Information

Reference

M35436E

Tenure

Leasehold

Status

For Sale

Region

Norfolk

Sector

Bars

Rent Payable

Leasehold - 20 year lease from the 4/2/2016. £20,000 per annum plus VAT. The purchaser will be responsible for the landlords costs and fees in connection with the assignment of the existing, or the grant of a new lease.

Business Rates

£4,990 per annum post Covid. This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

Accommodation

No

Business Information

• Busy Nightlife Location in City Centre
• Spread Over 4 Floors
• Low Entry Cost
• Tenant Parking to Rear
• EPC Rating - ‘B’
• Licence to Open until 4:00am (7 Days a Week)
• Possibly Suitable for Other Uses
• 20 Year Lease from 2016
• Fitted Equipment Included in Sale
• Viewing Highly Recommended

AGENTS NOTE

This is a business for sale as a going concern, not an empty premises for sale or let.

PARTICULARS

This is a great opportunity to acquire a leasehold premises situated in the heart of the bar and club area of Norwich City centre, with the benefit of a licence to open until 4:00am 7 days a week, including the sale of alcohol until 3:30am.

This together with the low entry price will no doubt make it attractive to those with their own ideas for a new venture as well as those that may wish to continue it in its current form as a karaoke bar.

Spread over 4 floors and with the added plus of having tenant parking to the rear this is well worth a view to see whether it could be for you. Call us now and we will be delighted to book you in for a viewing.

THE BUSINESS ITSELF

The current owner has run the business as a karaoke bar for the past 3 years but is now looking to pursue other interests and due to this they now only open for private bookings. Whilst this suits them one would expect a new owner to make much more use of the licence that the premises has and look to maximise the potential that this could bring.

Whilst the premises have been fitted out to provide 6 individual karaoke rooms over the 4 floors, it would lend itself to being used in a variety of different ways to suit anyone’s own personal vision for a new offering, subject of course to any consents that may be required.

PREMISES

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

As stated, the property is set in the heart of the busy clubland district of Norwich on the Prince of Wales Road. This makes it an ideal location to make the most of the licence and enjoy the turnover and profit that this could bring.

Entering at ground floor level into the lower bar area (4.7m x 4.7m) with glazed frontage and window seating, bar with further seating, shelving and mirrored wall behind, fridge under and sink and ice machine. There is wood effect flooring, which can be found mostly throughout the building, air conditioning, CCTV and wall-mounted speakers.

The upper ground floor provides different seating options including a large open booth style seating area wrapping round the walls. Again, there are wall mounted speakers as well as a TV and various light fittings. Off of the landing area is a door to the toilet and stairs down to the basement room.

The basement measures around 9.1m x 3.7m and is split into two by an open archway. One side is set up for karaoke with the other being a pool room. There is a range of comfy seats as well as the TV, speakers, song selector and air conditioning as can be found elsewhere. There is a further toilet on this level as well as emergency doors out into the rear yard area.

Going upstairs from the ground floor, levels 1 and 2 are nearly identically laid out to provide 2 individual karaoke rooms each fitted out with seating, lighting, TV, speakers, song selector, wood effect flooring and air conditioning. Each floor also has the benefit of a toilet off of the landing as well as a further room which can be used as an office or for storage.

FURTHER INFORMATION

REFERENCE NUMBER

M35436E.

OPENING HOURS

The business currently only opens for private bookings.

TENURE

Leasehold - 20 year lease from the 4/2/2016.

RENT PAYABLE

£20,000 per annum plus VAT.

The purchaser will be responsible for the landlords costs and fees in connection with the assignment of the existing, or the grant of a new lease.

RATES PAYABLE

£4,990 per annum post Covid.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

EPC

The Energy Performance Certificate shows a ‘B’ rating and a score of ‘41’

PRICE

£18,000.

For the benefit of the goodwill, fixtures, fittings & equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

VIEWING

Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.

FINANCE

Finance may be available to suitable purchasers.

BUSINESS TO SELL?

Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

PREMIER MARKETING

We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!

UNHAPPY?

Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.