A rare opportunity to take over a fully fitted bar and restaurant on a turnkey basis.
A purpose built, lock up bar or restaurant unit located within the ground floor of a purpose built Unite student complex. The premises have a significant glazed frontage to Wellington Street and return frontage with by folding doors to Eldon Street.
Within the last few years, the premises have been subject to a substantial capital investment having been significantly refurbished. The premises are extremely well presented with a range of modern and well specified fixtures and fittings.
Recently closed due to the coronavirus, the premises are turnkey ready with the successful applicant capable of trading from day one.
The subject premises are prominently located on the corner of Wellington Street and Eldon Street in the heart of Sheffield City Centre within the Devonshire Quarter.
The unit is close to Devonshire Green and the City Centre’s principle licensed and leisure circuit being just off Division Street.
The property is within a mixed urban area being set amongst a number of purpose built student accommodation blocks. There is also significant ongoing residential development taking place in the immediate environment including the proposed Kangeroo Works development which is a 364 apartment scheme located almost directly opposite.
The trade accommodation extends to approximately 302 sq. m. (3,250 sq.ft.) which is based around a central bar servery. There is seating for over 150 patrons including lounge and bar stool seating, fixed framed booths and informal dining.
There are attractive customer toilet facilities as well as a disabled WC. Set off the trading area is a fully fitted commercial catering kitchen with ancillary stores.
In addition, the premises have an extensive basement with beer cellars and service areas with a goods lift.
The property benefits from all mains services. Brownill Vickers have not undertaken any testing of the service installations.
Energy Performance Certificate
An EPC has been prepared for the building showing an Energy performance Asset Rating of 133 with band F. This is dated 27th November 2012.
This opportunity is available by way of an assignment of the existing lease which is dated 22nd January 2001 for a term of 35 years at a passing rental of £55,000 per annum. Therefore, there are around 16 years remaining. A copy of the lease will be made available to seriously interested parties.
The premises may be available on a new lease for a longer term, subject to
The business dates from 2001 although was bought by Abbeydale Brewery in 2013. The Devonshire Cat established itself as one of the very first beer bars in Sheffield and over recent years has acted to showcase Abbeydale’s core beers including modern craft and sour beers, while also pouring the best of the UK’s beer scene. The food menu has also developed to include a fresh, homemade and locally sourced offering.
Prior to closing the doors, due to coronavirus, the business was generating a net maintainable income of circa £15,000 per week. We believe that there is significant potential for an energetic operator to develop and enhance the trade or alternatively change the direction of the offer. The premises would also be suitable for outright restaurant use.
We recommend that interested parties satisfy themselves as to the trading potential.
The business is available by way of an assignment of the existing lease at a NIL premium. The trade fixtures and fittings are available by negotiation. Subject to financial vetting and obtaining the Landlord’s consent.
For viewing arrangements and further information please contact the sole selling agents Brownill Vickers on 0114 290 3306 or email firstname.lastname@example.org