Business for Sale in Norwich, Norfolk - CITY CENTRE HOTEL & NIGHTCLUB - NORWICH - Freehold: £1,650,000

Key Information

Ref
NC33914E
Type
Pubs Businesses: Nightclubs
Location
England: Norfolk
Tenure
Freehold
Status
For Sale
Accomodation
9 Bedrooms
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EM&F are delighted to present to the market the opportunity to acquire this substantial freehold hotel and nightclub situated in a prime location in Norwich City Centre. This long established and very well regarded business has only now become available due to the pending retirement of the owner who has enjoyed the past 44 years serving the people of Norwich and those that come to visit this fine city. With huge scope for extending the opening hours and offerings of the club or to redevelop the site, particularly given its location, we urge any interested party to contact us as soon as possible to arrange a viewing whilst the property remains available.

THE BUSINESS ITSELF

The business and building are split into two distinct parts with the ground and lower ground floor housing the well regarded ‘Mojos’ nightclub with the first and second floor operating as ‘Hotel Belmonte’ which provides 9 stylish en-suite guest bedrooms offered on a B&B basis.

Enjoying a turnover in the region of £435k with an adjusted net profit of c. £100k, the business provides very well for the owner however there is significant opportunity for a new owner to increase this substantially by developing its catering offering to hotel guests and the general public as well as by extending the opening times of the bar to take advantage of the year round local and tourist trade.

There is a small but dedicated team of staff who are very capable of running the business in the owners absence which may be of appeal to someone looking for an investment which can be manged on a more limited basis.

With two successful revenue streams, a large freehold property, extensive high quality fixtures and fittings and vast potential to increase turnover and profits further this is one which does warrant your closer inspection.

ACCOMMODATION

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

‘Mojos’

Entering the premises on the ground floor level through a large glazed frontage you are welcomed by a spacious reception area providing payment desk, bar and seating area with wall mounted TV’s. This leads through to the main open plan club room with dance floor, a range of seating options including a V.I.P area, a fully fitted out DJ booth which is complimented by a high spec sound and lighting system and two fully stocked bars with bottle and glass display shelving and cabinets together with electronic till points and other associated bar equipment. In addition the ground floor provides a fully equipped kitchen area for food preparation and glass washing.

The lower ground floor provides a further club room with a similar range of stylish fixtures and fittings, DJ booth, dance floor, seating areas and bar. Also at this level is an office, staff room, storage rooms, cellar and toilet facilities.

Externally the club has provision to the front for guests to congregate within a separated area. The club is able to operate with a capacity of 460 guests.

‘Hotel Belmonte’

Access to the hotel is through its own self contained entrance with stairs leading up to the first and second floor accommodation. Providing in total 9 well fitted en-suite bedrooms with a selection of spacious single, twin and double rooms all presented to a very high standard with high ceilings, each with flat screen T.V’s, Wi-Fi internet access and the usual complimentary hotel offerings.

The hotel benefits from double glazing, heating throughout, gas and electric supplies, full intruder and fire alarms and the building as a whole has a number of fire exit points.

This substantial property offering many possibilities must be viewed to appreciate the extent of what is included within the sale and so we look forward to receiving your call to arrange this.

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