SHROPSHIRE - OUTSTANDING MULTI-FUNCTIONAL VENUE
Park Hall, Oswestry, Shropshire
Ref: 35723
Leasehold | Ingoing Negotiable
Leasehold
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Key Features
Precis
This business provides a premium venue offering multi-functional entertainment. It encompasses a large open plan cafe bar with adjoining children's soft play area. Ten pin bowling alleys with adjoining amusement arcade. Sports studios that could be used for private functions, seating up to 100 comfortably. Outside patio. Excellent catering facilities. Car park 100. Potential for outdoor activities by negotiation. Current sales approximately £630,000 per annum exclusive of VAT. New furnished let available for part or whole of the entertainment and catering facilities to be operated in tandem with the football club. Terms negotiable to suitable and experienced parties.
Location
The Venue is Oswestry’s premier entertainment venue and the home of the New Saints Football Club. The property is a purpose-built sports and entertainment venue of modern construction and appointed to an excellent standard throughout, constructed in 2007 at a cost in the region of £3.5 million. Our clients would like to introduce a successful partner with whom they can form a strong working relationship in running these outstanding premises.
Our client wants to attract an experienced and successful operator within the entertainment and functions sector to take over part of the running of this very successful business. They want the business to be run in tandem with the football club, taking advantage of the constant level of trade this provides, but also developing further the entertainment element. Our client will consider operators taking all, or part of the entertainment and catering facilities and thus interested parties may only want the catering or bowling alley, or all. Each interested party will be assessed on their merits and what they can offer to the future development of the business.
This is an excellent opportunity for suitably experienced and qualified operators to trade from Oswestry’s premiere function venue. Not only are the facilities first-class, but it also has the added benefit of the football club being attached which provides a constant level of trade to the café bar due to the large number of teams, clubs and internal leagues that operate from The Venue throughout the year. Our clients are not specialists in operating this type of venue and therefore see an opportunity for an experienced operator to take advantage of the first-class facilities and drive the business forward under an ‘expert eye’.
The market town of Oswestry sits on the Shropshire and Powys border, holding a strategic location at the junction of the A5, A483 and A495, and is well known as one of the UK's oldest border settlements. It is the administrative headquarters for the Borough of Oswestry, being the third largest town in Shropshire and having a population of approaching 20,000. The venue is a purpose- built premises at the edge of the town.
Our client wants to attract an experienced and successful operator within the entertainment and functions sector to take over part of the running of this very successful business. They want the business to be run in tandem with the football club, taking advantage of the constant level of trade this provides, but also developing further the entertainment element. Our client will consider operators taking all, or part of the entertainment and catering facilities and thus interested parties may only want the catering or bowling alley, or all. Each interested party will be assessed on their merits and what they can offer to the future development of the business.
This is an excellent opportunity for suitably experienced and qualified operators to trade from Oswestry’s premiere function venue. Not only are the facilities first-class, but it also has the added benefit of the football club being attached which provides a constant level of trade to the café bar due to the large number of teams, clubs and internal leagues that operate from The Venue throughout the year. Our clients are not specialists in operating this type of venue and therefore see an opportunity for an experienced operator to take advantage of the first-class facilities and drive the business forward under an ‘expert eye’.
The market town of Oswestry sits on the Shropshire and Powys border, holding a strategic location at the junction of the A5, A483 and A495, and is well known as one of the UK's oldest border settlements. It is the administrative headquarters for the Borough of Oswestry, being the third largest town in Shropshire and having a population of approaching 20,000. The venue is a purpose- built premises at the edge of the town.
Property
GROUND FLOOR
MAIN FRONT ENTRANCE VESTIBULE leading into LARGE OPEN PLAN CAFÉ BAR for 150+ customers with adjoining SOFT PLAY. Reception desk. BAR SERVERY.
BOWLING ALLEYS providing eight ‘state of the art’ bowling alleys with AMUSEMENT ARCADE. LARGE FITNESS STUDIO providing excellent scope for functions, parties and weddings.
Large and well appointed CATERING KITCHEN. LADIES’ AND GENTLEMEN’S TOILETS.
EXTERNAL
Large tarmacadammed CAR PARK for up to 100 vehicles. Large slabbed PATIO AREA with the ability to seat up to 100 (chairs not included).
MAIN FRONT ENTRANCE VESTIBULE leading into LARGE OPEN PLAN CAFÉ BAR for 150+ customers with adjoining SOFT PLAY. Reception desk. BAR SERVERY.
BOWLING ALLEYS providing eight ‘state of the art’ bowling alleys with AMUSEMENT ARCADE. LARGE FITNESS STUDIO providing excellent scope for functions, parties and weddings.
Large and well appointed CATERING KITCHEN. LADIES’ AND GENTLEMEN’S TOILETS.
EXTERNAL
Large tarmacadammed CAR PARK for up to 100 vehicles. Large slabbed PATIO AREA with the ability to seat up to 100 (chairs not included).
The Business
The business trades as Oswestry’s premiere function venue offering ten pin bowling, soft play, café bar and restaurant and its ability to host functions being private parties, weddings, wakes etc. It also has strong links to the football club which provides a constant level of income throughout the week from the large number of teams and associated parent supporters.
Under the owner’s tenure, the side of the business that will be let is achieving an income of approximately £630,000 exclusive of VAT per annum.
Under the owner’s tenure, the side of the business that will be let is achieving an income of approximately £630,000 exclusive of VAT per annum.
Tenure
NEGOTIABLE INGOING, based on the terms set out below:-
Tenant Profile - Applications are invited from those parties who have sufficient experience in the leisure industry and especially that of entertainment/function type premises. They will also be required to prove they have sufficient finance available to proceed. The client will require a suitable business plan from the interested parties outlining exactly what element of the business they want to operate and what they think it will add to the current operation.
Term - Up to ten years on a part repair and insure basis to be contracted out of Sections 24-28 of the Landlord & Tenant 1954 Act. Therefore negating the right for the tenant to renew the lease at the end of the term. The lease will be on a furnished let basis, the freeholder retaining ownership of the trade furniture, fixtures, fittings and effects. The tenant will have full use of the same and will be expected to enter into a maintenance contract in order to keep the mechanical items to the same standard as that when they begin the agreement. Effectively a ‘keep good’ arrangement.
Repairs & Redecoration - Tenants responsible for the internal services, decoration and condition of the areas included in the lease. The exterior of the property will be maintained by the freeholder.
Deposit - By negotiation.
Rent - By negotiation.
Rent Reviews - To be carried out every three years throughout the term.
Service Charge / Utilities - The tenant to pay a suitable amount to cover the maintenance of the bowling alleys and a fair proportion of the utilities they use to include gas, electricity, water and business rates. The final rates to be agreed by negotiation by both parties.
Assignment - The lease to be assignable subject to a pre-emption clause in favour of the freeholder whereby the lessee must first offer their interest back to the freeholder prior to finding an alternative tenant.
Stock in Trade - All saleable wet and dry stock in trade, returnable containers and bar glassware to be taken over in addition by the purchaser at valuation on completion.
Tenant Profile - Applications are invited from those parties who have sufficient experience in the leisure industry and especially that of entertainment/function type premises. They will also be required to prove they have sufficient finance available to proceed. The client will require a suitable business plan from the interested parties outlining exactly what element of the business they want to operate and what they think it will add to the current operation.
Term - Up to ten years on a part repair and insure basis to be contracted out of Sections 24-28 of the Landlord & Tenant 1954 Act. Therefore negating the right for the tenant to renew the lease at the end of the term. The lease will be on a furnished let basis, the freeholder retaining ownership of the trade furniture, fixtures, fittings and effects. The tenant will have full use of the same and will be expected to enter into a maintenance contract in order to keep the mechanical items to the same standard as that when they begin the agreement. Effectively a ‘keep good’ arrangement.
Repairs & Redecoration - Tenants responsible for the internal services, decoration and condition of the areas included in the lease. The exterior of the property will be maintained by the freeholder.
Deposit - By negotiation.
Rent - By negotiation.
Rent Reviews - To be carried out every three years throughout the term.
Service Charge / Utilities - The tenant to pay a suitable amount to cover the maintenance of the bowling alleys and a fair proportion of the utilities they use to include gas, electricity, water and business rates. The final rates to be agreed by negotiation by both parties.
Assignment - The lease to be assignable subject to a pre-emption clause in favour of the freeholder whereby the lessee must first offer their interest back to the freeholder prior to finding an alternative tenant.
Stock in Trade - All saleable wet and dry stock in trade, returnable containers and bar glassware to be taken over in addition by the purchaser at valuation on completion.
Licence
A Premises Licence is held for the supply of alcohol between the hours of 10:00 - 00:00 Sunday to Wednesday, 10:00 - 01:00 Thursday and 10:00 - 02:00 Friday and Saturday.
Services
All main services are connected.
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Ceiron Griffiths
Midlands
