Leisure/hospitality for sale in City Centre, Essex CO1

City centre freehold nightclub with 2 bedroom flat
price: £725,000 plus sav – freehold
location – city centre, essex
ref: L0050E
city centre freehold nightclub with 2 bedroom flat occupying a high-profile position near the high street that is also uniquely located close to mainline station, bus station & car parks of this historic city – essex. A nightclub With a capacity of 500 that is free of tie and measures approx. 5,500 sq ft across 3 floors. The business was established in the 1980’s and has only had 2 owners within that time. The business has been operated under the same ownership for 24 years by our client who has now brought the property to market with a genuine reason for sale due to retirement. Possible development and conversion STPP. The property has had a recent investment of £150,000 that included function 1 audio & lighting along with a modern refurbishment of some areas. The business is well presented furnished with quality fixtures and fittings and is being sold with a full complement of equipment. The business is highly regarded in the local area supported by a regular & mature clientele. Now mainly staff run we believe this offers huge potential for a hands-on owner operator to significantly increase revenues. We are advised annual turnover is circa £150,000 working to limited hours only open Friday & Saturday nights therefore offering plenty of scope. We are advised business rates payable are £5,000 per annum. Essex and Suffolk business sales are delighted to be instructed as sole agents in the sale of this iconic nightclub & flat with potential development opportunity STPP.