Vertigo, St Marys Street, Truro, Cornwall, TR1 2AF
SOLD
::: Truro
::: Leading City Centre Bar Opportunity
::: Guide Price £500,000
::: Goodwill and F&F included
::: Freehold
Substantial multi room bar venue with highly sought after exterior garden seating approximately 100 covers
Consistent levels of turnover and profits maintained throughout covid pandemic
2nd floor manager’s flat
Location
The property is situated in the cathedral city of Truro, the commercial and administrative centre of Cornwall with a resident population in the order of 25,000 persons. The city is the hub of retail and leisure activity in the region enhanced by the recent re-opening of the Hall for Cornwall, following a £25million refurbishment.
Vertigo Bar has traded from this property for over 10 years and is an institution for local people having established itself as arguably the city centre’s most popular late night venue. This substantial and imposing freehold property is positioned on St Marys Street, in the heart of the city centre, in close proximity to the Cathedral as well as being within the heart of the city’s leisure offering.
The Business
The business has traded for a number of years and is a multi visited venue providing a daytime food and beverage offering and often transforming in the evenings to a busy evening and late night venue.
The business is currently open 6 days per week trading from 11am until late.
In recent years, the business has been largely run under management and will be sold with the benefit of an experienced and highly skilled team. The property and business are being offered to the market following the vendor’s decision to retire.
Detailed accounting information will be provided to any seriously interested purchaser, following an initial inspection of the property.
Accommodation
| Ground Floor | ||
|---|---|---|
| Bar Sales | 80.20 sq m | (865 sq ft) |
| First Floor | ||
| Bar Area | 57.20 sq m | (616 sq ft) |
| Office/stock room | 13.30 sq m | (143 sq ft) |
| Second Floor | ||
| One bedroom apartment | ||
| Garden | Approx 100 covers | |
Price
Freehold guide price - £500,000
Business Rates
Rateable Value – £15,500
NB: There are currently various Government schemes and periods of rate relief announced in the recent budget, any potential purchaser is advised to seek further confirmation of rates and liability from Cornwall Council.
VAT
TBC.
