THE MAGNET BAR

45 HARDMAN STREET
LIVERPOOL
L1 9AS

INTRODUCTION

Anybody who is involved in the live music business in the UK has probably appeared or visited the Magnet Bar, Liverpool. Established for over 30 years the Magnet has attracted the likes of Q ueen, Oasis, Purple Harlem and many other live music legends from across the world. Today it is as popular as ever and still enjoys continual financial success by attracting top bands and artists who are enjoyed by existing customers and a growing number of new customers.

LOCATION

The Magnet Bar is located on Hardman Street, Liverpool City Centre; this part of the City has undergone a multimillion pound development over the last 3 years resulting of the opening of numerous bars, restaurants and hotel accommodation. (See location map below).

PROPERTY DESCRIPTION

Ground Floor BAR

The entrance into The Magnet is from Hardman Street and leads into the main bar area which is furnished with 3 seating booths, high bar stools and tables and fixed wall seating. The bar servery is well equipped with bottle beer cabinets, an ice maker, a glass washer, a coffee machine and EPOS tills. The bar is equipped with a sound-to-light system operated from a DJ unit located at the rear of the bar.

Ladies and gents toilet facilities are located within this area.

Lower Ground Floor - Entertainment Area

Accessed via an internal staircase this area comprises of a large fixed stage equipped with a sound-to-light system; all the sound and lighting effects for live music shows are operated from a fixed DJ unit.

The entertainment area is furnished with a number of fixed booth seating, loose tables and chairs. There are 3 bar serveries equipped with bottle beer cabinets, beer dispense pumps and EPOS tills.

Ladies and gents toilet facilities are located within this area.

General

The Magnet Bar has the benefit of internal and external CCTV, air conditioning and a security alarm system.

TRADING HOURS

The Magnet has the benefit of a 24 Hour Premises Licence Monday to Sunday.

Licensed Trade Associates has not examined any licence documentation and any future buyer must arrange with their solicitors to verify this information.

ENERGY PERFORMANCE CERTIFICATE

An Energy Performance Certificate is being prepared by our client and will be made available to prospective purchasers in due course.

TENURE

The bar has a new 10-year renewable lease without any personal guarantees the present rent is £36k per annum reviewed every 5 years. Business rates payable for 2016/17 are £9k.

ACCOUNTS

There are certified and management accounts available to seriously interested parties following a formal internal viewing.

REASON FOR SALE

The present owner is planning other business opportunities outside of the licence trade.

Price including all business fixtures and fittings and goodwill but excluding all stock £130,000

VIEWING AND CONFIDENTIALITY

All arrangements to view are strictly by appointment through Mr Bob Collins and no approaches whatsoever must be made to the owner or the business. For an appointment to view please telephone Bob Collins on 07721 329999.

AGENTS NOTES

Prospective purchasers should make their own enquiries as to the adequacy and present condition of all service installations and related equipment at the property, whether or not referred to in these particulars. Licensed Trade Associates for themselves, and the vendors or lessors of this property, whose agents they are give notice that- (1.) The particulars are set out as a general outline only, for guidance to intending purchasers or lessees, and do not constitute either in whole or part of an offer or contract. (11.) All descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given without responsibility and intending Purchasers or Tenants should not rely on them as statements or representation of fact but must satisfy themselves by inspection or otherwise as to the correctness of same. (111.) No persons in the employment of Licensed Trade Associates has any authority to make or give any representation or warranty whatsoever in relation to this property. All prices are quoted exclusive of VAT unless otherwise indicated.

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