Pub/bar for sale in Burscough Street, Ormskirk L39

£94,995
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Property description

Ref 6535 – Leasehold Bar
Blacks Brokers are pleased to bring to the market this leasehold bar located in a busy and much sought-after area of Ormskirk, Lancashire.


Introduction


Mylo & Co has been trading on Burscough Street since 2017. Our client established the business after noticing a lack of licensed premises in this area of Ormskirk. The business has soon become a well known, busy bar with a good base of regular customers. Our client invested heavily in the refurbishment of the premises in 2017 to create a modern, quirky and well equipped bar offering cocktails, craft ales, draught beers and a large spirits selection – gin proving to be particularly popular in this area. The bar features a popular comedy club on Sunday evenings and offers live music on Fridays. Mylo & Co has a good online presence and social media following with excellent reviews on Google, Facebook and Trip Advisor.


Location


The business occupies a prominent trading position within Ormskirk’s town centre. The area is well linked by the M58 and excellent public transport links are nearby including Ormskirk Train Station. Parking is available in the immediate vicinity. Ormskirk is a growing and bustling town filled with a range of shops from small independents to large multiples including McDonalds and M&S Food.


Reason for sale


The business is suited to a hands-on owner-operator but is offered for sale due to the demands of our client's other business interests being higher than anticipated. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.


Lease


The building is available on a competitive rent on a Full Repair and Insure lease (Fri lease). This is the most common form of commercial property lease. The current lease is fifteen years with rent reviews every five. The current lease began in 2017 at a cost of £307 plus VAT per week. Please note, the rent increases by £500 per year.


Staff


The business is currently operating with two members of staff employed on a full time basis supporting our two clients working on a full time basis. Staff are reliable and experienced and can offer a smooth transition for clients and the new owner - giving reassurance that the momentum of success can be continued under new ownership.


Financial details


Mylo & Co has made a solid start to trade and has had a profitable first year. We are advised that the business currently has annual turnover of £158,655 with gross profit of £85,320. Full financial details are available upon viewing.


Business rates


The rateable value is £3,500. Purchasers should enquire with relevant local authorities to confirm the rates payable.


Summary


This leasehold business is newly refurbished and trading well within the first year. There is plenty of scope to develop the business further with the introduction of food, more themed nights and sports coverage. There is also potential for private event hire and additional use of the first floor and cellar. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised and are welcomed by appointment only. Business: £94,995.

Please quote ref: 6535

Nearby transport

  • Ormskirk (0.1 miles)
  • Aughton Park (1.1 miles)
  • Town Green (1.9 miles)
  • Blackpool International Airport (15.2 miles)
  • Liverpool John Lennon Airport (16.3 miles)
  • Manchester International Airport (29.2 miles)
  • Liverpool Belfast Ferry Terminal Bootle (10.0 miles)
  • Liverpool Isle of Man & Dublin Terminal (12.2 miles)
  • Liverpool Pier Head Ferry Terminal (12.2 miles)

Nearby schools

View all schools in West Lancashire
  • Ormskirk Church of England Primary School (0.4 miles)
  • Ormskirk St Anne's Catholic Primary School (0.4 miles)
  • Ormskirk West End School (0.5 miles)
  • Wood Edge Independent School (SEN) (0.8 miles)
  • Everton Free School (9.4 miles)
  • Progress Schools - Wigan (10.2 miles)
  • St Bede's Catholic High School (0.5 miles)
  • Ormskirk School (0.6 miles)
  • Pontville School (SEN) (0.7 miles)
Note: Distance is shown as a straight line measurement

Local info for West Lancashire

About the neighbours in L39

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For more information about this property, please contact
Blacks Business Brokers, BL9 on +44 161 937 5978 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blacks Business Brokers, and do not constitute property particulars. Please contact Blacks Business Brokers for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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