Free of Tie- Bar & Restaurant Lichfield

Sold £185,000 - General Retail

City Business Brokers are delighted to welcome to the market this well-established Free of Tie  popular public house and restaurant business located in the Tourist City of Lichfield

The business was established in 2006 and has been in our clients` careful ownership since 2010. Only now is the business being offered to the market due to our clients` other business commitments. The business operates 7 days per week and generates a turnover in the region of £394,000 plus per annum, with good gross profit The turnover includes VAT and is generated from 50/50 wet/dry split. Our clients` offer a wide range of beers, lagers, wines , spirits and has a great reputation for cask ale as well as a terrific menu being served in the bar/ restaurant area. Food is served Mon-Thurs 10.30am – 9 pm Friday /Saturday 10.30am-10 pm   Sunday 11am-6pm

The public house is well-supported within the local community with regular entertainment nights and functions , Presently hosts events for Camra and other Art s groups within the City plus all the usual live TV sporting events

The business has built up an enviable reputation within the area for the high quality of the beverages ( Camra), Homemade food and services (Best Pub Fish & Chips in City ) offered, which has resulted in a very loyal client base, with a vast amount of repeat trade and word of mouth referrals.

The premises boast a spacious bar area and a 70 cover restaurant, as well as spacious lower ground floor for storage , offices and a under utilised function room

A new owner could also launch a small marketing campaign to advertise the business and fayre offered. The business has an excellent website in place to advertise the business and the services offered. This is an excellent opportunity for a new owner to take this already thriving business to the next level; therefore early viewing must come highly recommended to avoid disappointment.

Trading Hours:  Monday to Thursday – 10.30am-11pm Friday & Saturday – 10.30am-midnight Sunday – 10.30am-10.pm #New owners could benefit from later opening times in line with either venues 2am #

Number of Employees: 8 Including owner

Tenure: Leasehold  19 years remain

Location Details: The  Pub  and restaurant occupies a substantial two-storey premises, close to the Garrick Theatre . T
The Bar is adjacent to new Lichfield Friarsgate Development and the premises boasts a prominent trading location and benefits from a high volume of passing trade.

.Leasehold Term:  19 years Remaining lease length: 25 years  – Review every: 5 years Rent: £3500 per month

#Cost base per month amounts to circa £25000 against a turnover of circa £34000 #

 

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