The Long Bar

Leicester, Leicestershire
REF: 01154

Asking Price:
£99,500
Annual Turnover:
£400,000
Annual Net Profit:
£50,000
Recently Sold
REF: 01154
Photo of The Long Bar
Photo of The Long Bar
Photo of The Long Bar

Overview

Tenure:
Leasehold
Established:
TBC
  • Weekly Takings – approx £6,000
  • Situated on a popular street with large footfall
  • Recently refurbished
  • Annual turnover in excess of £300,000

This is a superb and rare opportunity to acquire one of Leicester’s most popular bars. The business is situated in a busy part of Leicester city centre and benefits from the large footfall in the area and the large student community nearby.

The business is entered through a centrally positioned door leading into a small seating area which is transformed into a dance floor in the evenings. Beyond this, the bar is the centre piece of the ground floor with another dance floor on the other side of the bar. There are staff and customer toilets located behind this dance floor.
There is a basement which also has another cocktail bar. To the right hand side of this bar there are a number of luxurious seating areas which are in line with the modern feel throughout the bar. To the other side of the bar there is another dance floor which is complemented by a DJ booth which host’s a modern sound system and lighting equipment.
Out of view to its customers, there are a couple of storage rooms and a security room, which primarily focus is to monitor the CCTV cameras that are in the bar. There is also a large kitchen, equipped with modern equipment that is not currently being used by the current owner.
Above the kitchen there is also a two bed room apartment. This is in need of modernisation but could prove a health revenue source as it is equipped with a bathroom, kitchen and living room.

Intelligent Business Transfer are excited to offer to the market this very rare opportunity to purchase a very successful cocktail bar in Leicester City Centre for a great price.
The Long Bar has been trading for three years, and within this time has gained a superb reputation whilst growing on a month-by-month basis. Since the business opened, every customer who has visited regards it as the best bar in Leicester. The bar accommodates for the different needs of its customers whether it be in the form of their sophisticated cocktail menu, offering a nightclub experience or offering its customers a private function room.
The business has been established for three years and underwent significant renovation to transform in to its current state. The current owners have very skilfully combined a cocktail bar and nightclub environment to accommodate for the different needs of its customer base. The bar has areas which offer a relaxing environment and other areas which appeal to those wanting a livelier atmosphere. This is of huge importance as there is an equal balance of professional clients and a large amount of student who regularly attend the bar.
Despite the impressive financial figures the bar has achieved in recent times, there is further scope to improve these figures. One way in which this could be done is to extend the opening hours, as the business has not been opening during the day. If this were to be done, plus using the kitchen to its full potential to introduce an extended menu to include food, the annual turnover and net profit would be improved significantly. There is also the potential to compete with competitors and introduce an outside seating area, taking advantage of the large footfall during the day and night.
The turnover of this business has generally inflated month upon month up to its current state which is consistently taking over £6000 per week. This has been achieved from relatively modest opening hours. The two reasons for this are the location of the bar and the hugely popular website (included within the sale) which is the perfect advertisement for the bar and its services, the website address is: http://www.thelongbarleicester.co.uk
The current owner has run the business to suit his lifestyle needs over the last couple of years. The new owner would need to apply and obtain a new licence for this business. The business would suit an entrepreneur with the energy and drive to manage this busy bar and implement the changes above, in order for the business to reach its full potential.
We strongly advise early viewings to fully appreciate what is on offer, and the potential that can successfully be utilised.

Location

Property

Annual Rent
TBC
Annual Rates
TBC
Lease Term (Years)
10
Lease Expiry (Years)
TBC
Accommodation Included
TBC
EPC Rating
C 51-75

Financial & More

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Company Accounts
XXXX
Trading Entity
XXXX
Management Structure
XXXX
Number of Employees
XXXX
Current Ownership
XXXX

Refine

Miles
£
£
£
£
Timed popup