Licenced Trade, Pubs & Clubs

RESTAURANT AND SPECIAL EVENTS FUNCTION SUITE
Multi-faceted streams of income
Large flat site of circa 0.4 acre
Development potential
Very realistically priced to sell
Weekly Turnover £8,500 to £11,000
REF 590485. EPC Band C.
Business and Property £595,000
County Durham

RESTAURANT AND SPECIAL EVENTS FUNCTION SUITE in County Durham for Sale.

A well-known and much loved entertainment venue which is the central hub of this seaside town community on the Durham coast. Located between Sunderland and Durham this town boasts beautiful beaches and a thriving and rapidly expanding community. Substantial detached property on a stand-alone site, surrounded by a densely populated local community and offering a social sports bar featuring live sports events on many flatscreen TV’s (including a 231 inch screen), eight-ball pool and darts areas, a highly acclaimed restaurant (privately operated on a licence to trade). First floor 220 seat function suite which hosts weddings, parties and special events including discos, wrestling and boxing events and tribute acts. A huge outdoor decked terrace is popular with families during the sunnier months. The restaurant accommodates 50 diners and has a superbly equipped commercial catering kitchen.

The property also incorporates four letting rooms for paying guests and / or can be used as staff accommodation. Three, single bedroomed rooms currently let for £450 per calendar month, the fourth, a two-bedroomed flat rents for £500 per calendar month. This is a multi-faceted stream of income business that is well-established and extremely profitable, especially if run by hands-on owner operators. There is considerable additional income from several gaming slot machines on the property. The restaurant has only been open a very short time but already takes circa £5,000 per week in sales and this is increasing as word gets around. The main sports bar and venue business generates between £8,500 and £11,000 per week depending on function room hire and events.

The property and business are being sold as a whole and represent tremendous value for money. Alternatively, the club stands on a site of approximately 0.4 of an acre, (1,630.32 sq m or 17,548.58 sq ft) and might therefore have some development potential (subject to planning). The building interior extends to circa 876 sq m over ground and first floors. The business is currently run entirely by staff as the owners live abroad, hence their desire to now sell the business and property. EPC Band C.