Bowmans Bar, Ipswich

Leasehold for Sale

Leasehold: Upon enquiry

WITHDRAWN

  • IMG_1798.JPG
  • Clipboard02.jpg
  • IMG_1779.JPG
  • IMG_1789.JPG
  • IMG_1781.JPG
  • IMG_1783.JPG
  • IMG_1780.JPG
  • Buttermarket.jpg
  • IMG_1782.JPG

Prominent corner bar adjoining Buttermarket with late licence and established business

Key Points

  • 0 to 185 sq m Gross External Area - (0 to 1,991 sq ft)
  • Established business in central position in County Town
  • Extensively refurbished recently
  • Open plan GF trade area - capacity 220
  • Function room, offices and storage on 1st floor
  • Rooftop open air bar and smoking areas
  • Benefits from extended hours premises licence

Location

The property is located in a prominent corner site at the corner of Falcon and Queen Street in the centre of Ipswich (population circa 130,000+), the County town of Suffolk. The property fronts the Buttermarket centre, Ipswich's largest covered shopping centre with 420 space car park. The car park is now open 24 hours a day driving footfall to this area. Redevelopment of the centre will provide a 12 screen Empire Cinema, which will be at the heart of the £35m redevelopment, which will also include a 20,000 sq ft gym, operated by Pure Gym, plus nine restaurants. New Look will be open a 14,000 sq ft flagship retail store alongside TK Maxx. Restaurants include Byron Burger, Wagamama, Prezzo, Cosy Club, Coast to Coast alongside Revolution Bar.

Property

The prominent corner 2 storey property adjoins Buttermarket in an established position on the leisure circuit. 

The ground floor provides dual entrances into a newly refurbished open plan trade space with flagstone flooring and central contemporary bar servery.  A flexible trading space provides a mixture of loose and fixed seating for around 75 covers with extensive standing space.  WC's and wash up area are located to the rear.  

A substantial cellar with spirit, wine and general storage is located in the basement with drop to the rear patio.

The 1st floor provides a self contained function room with bar servery and sound system as well as well equipped commercial trade kitchen.  The remainaing space provides 2 offices, staff room and WC's, although this could easily be converted back to provide sizeable domestic accommodation, subject to the necessary consents.

Externally there is a 1st floor roof terrace with dedicated bar servery, garage storage and smoking areas. There is also potential for a pavement licence to the front.

The property is presented in excellent condition with the benefit of an established and loyal customer base.

Licensing

The premises benefits from a late license until 3.30am Friday & Saturday and 12.30am Monday - Wednesday with capacity for 220.

There is significant growth potential for an experienced operator with a known brand with the addition of extended trading hours and an extended food offer.

General enquiries can be made at www.ipswich.gov.uk or 01473 433777. The property may be suitable for a variety of uses, subject to the necessary consents.

Tenure

The property is available by way of assingment of the existing lease.  The property is currently held on a tied lease at a rent of £43,000 pax.  A free of tie, Market Rent Option (MRO), rent has been agreed at a rent of £53,000 pax and is in the process of being legally documented.

'Premium Offers Invited' for the leasehold interest, inclusive of the extensive trade inventory, with stock in addition on completion.

 

Rates & Charges

Business Rates
£27,028.00 per annum (based on a Rateable Value of £58,000)
Council Tax
Available on enquiry

1 Falcon Street
Ipswich
Suffolk
IP1 1SH