|Address||Oldtown Inn, 12 Oldtown Street Cookstown, BT80 8EF|
CPSJORDAN is delighted to present to the market the Oldtown Inn Bar and Restaurant, a highly renowned bar and restaurant business with over 22 years of trading history.
This property is now being offered for sale due to our client’s desire to retire.
The bar attracts a very loyal customer base and has a ‘clean’ licence. The restaurant, just out of lease, was trading as District 80 for 6 years and had built up a high reputation for food and a loyal customer base.
The bar and restaurant are fully fitted out to a very high standard and would allow any new buyer the ability to walk straight in and continue trading.
Although not within this sale, the property benefits from the use of a large adjoining carpark which bar and restaurant customers can use.
Our client admits they run the bar to suit their needs and there are several areas any new buyer would be beneficial to add to increase the current turnover –
Extend the current opening hours
Add a new website, more social media presence
Expand pool and darts’ teams
Very rarely do businesses of this standard in this area come onto the open market and we therefore strongly advise early viewing.
The Oldtown Inn occupies a highly prominent trading position on Oldtown Street at the northern end of the market town.
The business sits in a street comprising many independent retail stores, takeaways, AirBnBs, and service businesses.
Cookstown is in the heart of Mid Ulster and benefits from catchments from all parts of the province with easy access to both the M1 and M2 motorways.
Premises in brief:
Chill room/keg store
A fully equipped restaurant which would sit 80 covers.
Private dining room.
Fully equipped kitchen and preparation area to include ovens, sinks, fridges, freezers and cold room store.
496m2 as internal measurements of the whole bar, including toilets.
Bar 20m long by 11 m wide, 160m2 plus toilets, plus yard incl. cold room.
Restaurant 18.7 m long by 12.3 m wide plus kitchen (70m2), 236.2m2 plus toilets plus kitchen.
The business is run part-time by our client with the help of two x part-time members of the team.
We understand the property is Freehold.
FIXTURES & FITTINGS
All fixtures and fittings are to be included in the sale.
All prices are exclusive of VAT.
The bar licence is 5(1)(a) and includes off-sales. The restaurant licence can be transferred into the buyer’s name.
We are advised that the annual rates payable for the property in 2021/2022 were
NAV Bar £5000 (£1927)
NAV Restaurant £14400 (£5640)