Premium Cocktail Bar, with potential for full restaurant dining facilities
Up to 120 internal covers over 3 floors, 32 external covers
Scope to increase trading hours, Energy rating C
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Description An ideal opportunity to purchase a destination cocktail bar in Maidstone, Kent. Maidstone is approx. 30 miles south East of London via the A2/M20and also has easy links to London via the rail network.
The bar occupies a prime trading location in a pedestrian area within the town. Located on Earl Street, a popular area which attracts an abundance of High Street casual dining restaurants, The Imperial Bar serves everything from Cocktails to Prosecco as well as premium Gins, wines and a range of draught and bottled beers. The business is situated in a road sought after by many food and drink operators and acts one of the prime roads in the town.
The business was established in 2017, the three-storey premises has been recently refurbished to a high standard to accommodate an old-fashioned glamour and sumptuous décor. The property provides a welcoming feel with a homely environment and is neatly presented throughout. Since opening, the business has built a loyal and regular customer base which continues to grow by returning customers, word of mouth and social media advertising.
This is a profitable business and currently operates 100% wet sales, with huge potential to expand with the addition of a food menu and private dining. In addition, the business offers tremendous growth potential with an additional dining/private function room on the top floor which is yet to be opened. The business would therefore ideally suit an energetic and passionate entrepreneur or other small to medium sized business who can maximize the opening times and build upon the excellent reputation and regular customer base.
Sales We have been advised that the business generates approx. £3000 - £3500 per week with high gross profit margins and limited trading hours through choice.
Accounts Current records and accounts can be inspected when viewing.
Trading Hours The business currently operates four days a week:
Wednesday to Thursday: 5pm-11pm. Friday & Saturday: 3pm-1am.
Full trading information will be made available, following a formal viewing.
Staff The business is currently managed and run by1 manager and 5 part-time staff
Building External Operating form a highly visible and deceptively spacious three story mid terraced property which occupies a prominent position, within the pedestrian area of the town centre amongst a host of other food and drink retailers.
The property has a private decked garden area to the rear for c.16 covers, a raised decking area and rattan furniture which provides a pleasant place to sit and relax. It also has a Pavement Licence for c.16 covers to the front of the building.
Building Internal The business offers a welcoming feel when entering from the street, tastefully decorated since its opening in 2017. The property currently caters for up to 120 covers over two levels of trading space, with options to use a further floor and has CCTV throughout.
The ground floor comprises a mix of tables and chairs along with armchair style seating, as well as a large bespoke cocktail bar area which benefits from 3 state of the art cocktail stations to maximize customer service. The area currently caters for c. 40 covers and a large disabled toilet. There are 2 epos tills as well as controls for Alarms and access to the sound system.
The first floor is a more relaxed area with c.40 covers. During opening hours it is used regularly by customers who require a quieter space. There are three front aspect windows, also with round tables of various sizes. The area is also popular for customers with larger groups who require private use for parties. There is also a fully fitted commercial kitchen with a non-slip floor and full extraction facilities, stainless prep tables plus ample refrigeration storage.
The ladies and gentlemen's toilets are located on the second floor, as well as a small staffroom with lockers. There is a large area to the front which is currently not used, which has further space for an additional 30-40 covers or could be used as a private hire facility. The room has been made ready for epos systems, fully powered and requires a small limited expense to furnish and become ready for customers.
The property also benefits from a large cellar area used for storage, supplies and beer cooling units.
Fixtures & Fittings All trade fixtures and fittings will be included in the sale and our clients will provide a trade inventory
Tenure We are advised the property is held on a 10-year lease which commenced in 2017 when the business opened. We have been advised that there is potential to extend the term on change of ownership.
Business Rates The business rateable value is £35,000 and currently benefits from the small business rate tariff.
Regulatory Premises Licence, which is permitted to have the premises in use from 9am to 1am daily.
Summary This is an excellent opportunity to purchase a well-known destination business which has built a good reputation since opening and offers genuine growth potential for any new owner.
A viewing is highly recommended to appreciate the excellent location, internal condition and overall business opportunity which would ideally suit a hands on owner to maximize profit potential.
Situation The business has built up a good reputation in a short space of time with its wide offering to cater for many different people.
There is scope to further increase the trade by extending the opening hours, as well as utilising the second floor area to add additional trading space.
The current owners operate their business as an evening cocktail and prosecco bar, also providing private hire for groups at weekends. The opportunity is there for a fully functioning restaurant as well as a bar.
Property descriptions and related information displayed on this page are marketing materials provided by Kings Business Transfer. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Kings Business Transfer for full details and further information.
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