Leasehold Bar & Music Venue Located In Coventry

Coventry, CV1 5DY
£49,950
Business ID:
#2507
£49,950
  • Ref: 2507
  • Type: Bar
  • Availability: Under Offer
  • Veritas Categories: - Restaurants, Licensed, - Bar, - Free House, Takeaways
  • Business ID: 2507
  • Commercial Tenure: Leasehold
  • Make Enquiry

Property Features

  • Established Business
  • Free of Tie
  • Late Bar & Music Venue
  • A4 Consent
  • A5 Hot Food Takeaway Consent
  • Close to Coventry City Centre
  • Would Make A Fantastic Restaurant
  • 24 Hour Drinks Licence

Full Details

Leasehold Bar & Music Venue Located In Coventry
A4 & A5 Consent
24 Hour Licence
Free of Tie
Ref 2507

Location
A fantastic opportunity to acquire this respected Bar & Music Venue which is located in Coventry. Situated within a prominent and highly visible corner position on Far Gosford Street where it meets Vecqueray Street. FarGo Village Shopping Centre is just yards away which has benefited from significant investment and offers an abundance of retail shops, bars and restaurants, all of which bring high levels of footfall to the area. Scholars is adjacent to Sainsbury’s local supermarket and is a short stroll from Coventry University and Coventry City Centre.

Asking Price £49,950

Business Description
Veritas Business Sales are delighted to offer for sale this well fitted Bar & Music Venue which is located in Coventry. The business was established by my clients back in 1995 and is Coventry’s longest running nightclub. They closed the doors back in March 2020 due to Covid and have decided to now offer the venue for sale so that they can enjoy a well deserved retirement.
What’s on offer is a fully fitted bar which has the benefit of an A5 hot food takeaway licence along with a 24hr drinks licence and is licenced for 340 people internally and 140 externally. Three years ago they refurbished and invested in new equipment along with fixtures & fittings at a cost of circa £180,000 which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time.
We believe that this would easily convert into an amazing restaurant and late bar which is a great base to build upon and as such early viewing is highly recommended as this is not to be missed.

Leasehold
Term: 21 years (New lease available)
Remaining: 9 months
Rent: £32,000 pa
Business Rates: zero

Ground Floor
Side entrance door leading to vestibule with reception/cloakroom.
Main bar comprising: various tables & chairs, DJ booth, fire exit, bar servery with 4 x EPOS tills, 2 x double door drinks fridges, 4 x single door drinks fridges and glass washer.
Ladies 4 x W/C, 3 stainless steel wash basins, 2 wall mounted soap dispensers and wall mounted dryer.
Gents 2 x W/C, stainless steel urinals, 2 stainless steel wash basins, wall mounted soap dispenser and wall mounted dryer.
Disabled W/C with wash basin.
Kitchen with built in extraction canopy.
Hallway with front entrance door and stairs leading to the first floor.
Cellar with stainless steel sink, floor safe, main cellar area with cooling system and ice machine.
Rear hallway and exit door leading to the rear yard.
First Floor
Office with loft hatch.
Stage/performance area.

External
Rear courtyard with seating, outside bar comprising double door drinks chiller, glass washer and metal stairs leading to first floor balcony with seating area.
Gents W/C with stainless steel urinals, stainless steel wash basin, wall mounted soap dispenser and wall mounted hand dryer.
Ladies 3 x W/C, 2 wall mounted soap dispensers, 2 stainless steel wash basins and wall mounted hand dryer.
Bin stores.

The main bar benefits from a full music and lighting system and CCTV (16 camera system).