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£0 £1000000

Immaculately Presented Cocktail Bar in Tourist Location

Margate, Kent

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£79,995 +SAV

Ref: 13907 J

Leasehold

Overview

Hilton Smythe are delighted to offer to the market the Glass Jar Cocktail Bar. Established by our client in 2012 and offers now due to our clients’ other business commitments. A sophisticated Manhattan style bar with friendly trained cocktail staff and chilled out ambience. Our clients bar offers a wide range of cocktails from a Tom Collins, Moscow Mule, Harvey Wallbanger, Singapore sling, Negroni, Old fashioned, White Russian, Bloody Mary’s and many more. There is also large range of mocktails, white and red wines, spirits, sparkling wines, 4 beers and 1 x draught cider. This bar enjoys one of the most enviable trading positions and a bar with a licence until 2 am, making this business a prime investment for any purchaser looking for a thriving licenced premise of this kind. Customer feedback includes “the place is amazing, only place of its kind in Margate, great staff, great music and electric atmosphere “. The business is rated 4.8 with 95 views on Facebook and around 1.900 followers.4.5 out 5 from 68 reviews on Trip Advisor. With an user friendly website www.theglassjarmargate.co.uk giving further information about the business. All staff are fully trained in the art of cocktail making. Currently the position of the bar takes up a large central area to the left of the premises however it was to be re located to the rear, this would allow for more seating. We encourage early viewing of this lifestyle business opportunity.

Turnover
According to the March 2017 accounts turnover is reported at £263,369, with a gross profit at circa 30%.

3 full-time, 3-part time, including some managerial time from our client.

SummerMonday to Thursday 12.00 -12.00pm, Friday and Saturday 12.00-2.00am, Sunday 12.00-12.00pm. Winter Monday to Thursday 5.00pm -10:30pm, Friday and Saturday 12.00-2.00pm, Sunday 12.00 -12.00pm.

The Glass Jar is located on Marine Drive, Margate, Kent. Centrally located on the seafront, next to the Sands Hotel, the bar enjoys full views of the large sandy beach and recently renovated Dreamland. Less than 2 mins from the Turner Gallery, the historic piazza and vintage vibe of Margate old town. Margate is a famous seaside destination on Kent’s south east coast and it lies 38 miles north east of Maidstone. Recent investment including the opening of the Turner Contemporary Art Gallery 5 years ago, has seen the resorts’ popularity grow. The business location is accessed from the Canterbury Road which links to the A299 and M2 motorway which leads commuters and visitors to both the M25 and London. Margate railway station is located nearby to Dreamland and there is lots of pay and display including a large multi storey for tourist parking.

Circa 122sq m.(licensed to hold over 100 however our client operates on an 80 capacity). Main bar - An eclectic range of local artist artwork covers the bare brick walls of this trendy bar with a full solid wood bar servery to the left and vintage red leather sofas and chairs to the front left. A rear sitting area includes wooden chairs and tables and further leather sofas. Bar servery - 1 x triple glass fronted chiller, 1 x tall glass fronted wine chiller, large under counter glass washer, music system with pa and mixer, cctv with 8 x camera s, till system (leased), post mix and chilling system, rear shelving for spirits, drinks blenders, 10 x points of dispense. Toilets - 1 x single men's cubicle, separate 2 x urinal toilets, 2 x ladies’ cubicles and mirrors. Same level cellar - newly installed chiller and keg points installed by Shepherd Neame with 4 x beers and 1 x cider point, large 20kg crushed ice machine, 45kg normal ice machine, chest freezers, large upright fridge, drinks blender and staff microwave and food preparation area. Separate lockable spirits room - fully shelved with cctv. Fire exit to front.

Tenure
We are advised leasehold. Original 7 year lease.2 years remain as of January 2018.Rent is £16,000 per annum. The business currently does not pay business rates.

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