Location
This business opportunity is situated in the centre of South Parade which is the main route running from the town centre down towards the seafront.
Whitley Bay has enjoyed significant investment over the last 5 years and this has included the arrival in the town of the Premier Inn brand plus a redevelopment of the roads and footpaths along The Promenade.
Business Opportunity
The premises are in excellent order and the public areas were refurbished in 2018 when the most recent tenant took occupation.
Laid out over an extensive ground floor, the bar is configured to provide a main bar area to the front with a separate seating area to the rear and then a games area off where there was a pool table and darts board. There was a mixture of tables and chairs, booths and some fixed seating plus ample circulation space.
The previous tenant operated the space as a sports bar with some live music and was a popular venue. The bar is adjacent to a busy hotel which will undoubtedly bring business to the venue but the location on the circuit will also guarantee custom from the local residents.
Viewing is recommended to fully appreciate the location, fit out and potential of this opportunity.
Premises
Ground Floor
Bar / Lounge 102m2 1,100ft2
Pool / Darts Area 32m2 344ft2
Ladies Toilets
Gents Toilets
Cellar
EPC
Rating D.
Fixtures & Fittings
A full inventory would be made available prior to an exchange of contracts.
Services
Electricity and Water is installed to the premises and there is also an air conditioning unit.
Rates
The premises are assessed as follows:
Rateable Value £13,250 (from April 2023)
Rates incentives are available subject to status.
Tenure
The premises are offered on a new FRI lease for a term to be agreed at £16,000 per annum. Full details are available on application. The ingoing tenant will be responsible for the landlord’s reasonable legal costs in the preparation of the new lease.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.