Hospitality Facility in NE63

Sports Bar with Events Venue – Freehold Investment Opportunity for sale via auction: Guide Price £110,000

An excellent opportunity to acquire the freehold of a recently refurbished sports bar with a large separate events venue, situated in a town centre location in Northumberland close to train station and local amenities.

The property has undergone extensive refurbishment and has been fitted out to provide a stylish and versatile hospitality venue. The events venue has its own fully fitted bar, a mix of booth, banquette and lounge seating, feature chandeliers and air conditioning, making it well suited to private functions, parties and celebrations alongside the day-to-day sports bar trade.

The property is arranged over ground and first floor levels.

Ground Floor Lounge Bar
A stylish lounge-oriented trading area fitted out to provide a warm and welcoming environment, with curved booth seating, loose tables, occasional chairs, decorative wall mirrors and ambient lighting, creating an intimate and comfortable setting.

Ground Floor Main Bar / Sports Bar
A separate and distinct trading area centred around a fitted bar servery with draught dispense equipment, back-bar display shelving and mixed seating, suitable for casual drinking and sports bar style trade.

First Floor Private Events Space
A luxurious private function suite providing a separate bar area together with a dedicated dance floor, suitable for parties, celebrations and a wide range of private hire uses.

The property is currently let at £14,400 per annum on a 2 year lease with a break clause in Summer 2028, representing a return of circa 11.5% after purchase costs. It offers investors an income-producing freehold asset in an established town centre setting.

In addition to its existing commercial use and investment income, the scale and configuration of the building may offer longer-term potential for alternative or mixed-use development.

We are advised that the business has established and continues to enjoy an excellent reputation locally.

Please email for full details.

Contact us

For more information please contact CommercialNE@pattinsons.co.uk or 0191 7371184

This property is being sold subject to unconditional reservation fee auction terms and conditions.

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase.

Legal Pack

A legal pack is available to download. Special conditions may apply.

We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

Deposit

In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.

The deposit is non-refundable.

Buyer Fees

This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £6,000 + VAT (£7,200 inc VAT) This does not form part of the purchase price.

A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.

More Information

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:

My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.

If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.

Any amount payable at the close of the auction must be paid within 1 hour.

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.

Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.

The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.

It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.

The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.

Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid

Please note this bidding process applies specifically to online auctions.

More Information is available:

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

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