**WELL-ESTABLISHED - PROFITABLE – BAR & RESTAURANT BUSINESS FOR SALE OR LEASE**

For sale by CPS Property via the iamsold Bidding Platform  Please note this property will be offered by online auction (unless sold prior). For auction date and time please visit iamsoldni.com. Vendors may decide to accept pre-auction bids so please register your interest with us to avoid disappointment.

CPS are delighted to have been appointed to list for Sale or Lease this well-established and reputable Bar and Restaurant business; as well as a four bedroom apartment on the 1st floor; that has been the centre of the Blackwatertown Village for a great number of years.  The business has been trading for a long time and has been with the current owners the last 10+ Years.  The Portmor Bar & Restaurant offers a fantastic opportunity for those within the industry or someone looking to enter the industry to take on this thriving business.

LOCATION

The Portmor Bar & Restaurant is located within the village of Blackwatertown; being centrally located between Armagh, Moy, Benburb, and Dungannon.  Ideally situated the bar and restaurant benefits from ease of access to the local community and further afield. 

DESCRIPTION

The two-story premises is circa 6,349 Sqft and comprises a detached two-storey building of traditional construction with a pitched slate roof.  The building has been further extended to the rear by way of a single storey covered with a mix of pitched corrugated and flat roof.  There is a service yard and outdoor function area to the rear of the building; accessed via Main Street and Blackwatertown Road. 

The property comprises a spacious bar and lounge area to the front fitted with a feature wooden bar and seating booths and tables.  To the rear there is an extensive restaurant floor, feature wooden bar, and toilet facilities; with the main kitchen and an ancillary area accessed off to the side.  The kitchen is fully fitted with ample preparation and storage areas. 

The entire restaurant is fitted out to a very high contemporary standard with various seating provided by way of free-standing chairs and tables and booth style seating.  The flooring is a mix of both fitted carpet and wooden flooring throughout the restaurant, feature lighting, and air conditioning. 

Leading off the ground floor at the far-right hand side either internally or separate access off Main Street is the first floor; circa 1,820 Sqft.  This area was previously a 4-bedroom residential accommodation; however, now currently used for staff, storage and service area.  This area however has the potential to be converted back to residential use; subject to any required statutory planning approval.

NOTE: There is an option to lease the premises and builidng; all enquiries welcome 

GUIDE PRICE

Price On Application (P.O.A)

ACCOUNTS

Accounts available to interested parties following satisfactory review by CPS of proposed buyer’s financial credentials.

INVENTORY

Inventory list available upon request

LICENSING

The property benefits from a 5(1)(e) Restaurant Licence

TUPE

The business is offered for sale as a going concern and the purchaser will be required to comply with the current TUPE legislation and employment transfer

RATES

As per the LPS website:

• Non-Domestic - NAV - £21,400 with Rates Payable for 2024/25 - £12,616
• Domestic - CRV - £95,000 with Rates Payable for 2024/25 - £960

VIEWING INFO

For further information or if you wish to arrange a viewing, please contact our commercial team on 

028 95 622 188  

or email commerials@cps-property.com

 

Auctioneers Comments:

This property is for sale under Traditional Auction terms. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.
With this auction method, an immediate exchange of contracts takes place with completion of the purchase required to take place within 28 days from the date of exchange of contracts.
The buyer is also required to make a payment of a non-refundable, part payment 10% Contract Deposit to a minimum of £6,000.00.
In addition to their Contract Deposit, the Buyer must pay an Administration Fee to the Auctioneer of 1.80% of the final agreed sale price including VAT, subject to a minimum of £2,400.00 including VAT for conducting the auction.
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
Terms and conditions apply to the traditional auction method and you are required to check the Buyer Information Pack for any special terms and conditions associated with this lot.

The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.