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Kings Banqueting Suite

Blackberry Lane, Coventry, West Midlands, CV2 3JW
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COMMUNITY SITE

Facilities

Beer Garden
Catering Kitchen
Function Room
Free of Tie
Letting Rooms
Pool Area
Live Entertainment
Car Park
Live Sports
  • Beer Garden
  • Catering Kitchen
  • Function Room
  • Free of Tie
  • Letting Rooms
  • Pool Area
  • Live Entertainment
  • Car Park
  • Live Sports

Location

Great opportunity to run this multiple income stream site

Ingoing Cost: £40,000.00
Rent: £52,000.00
Agreement Type: Lease
Reference Number: N58SZQ / 0309019

The stated ingoing figures are correct at point of advertising. Please be aware there may be additional costs.

Property Features:

Kings Banqueting Suite is based in a suburban area of Coventry with secondary school opposite to the venue. The site has great links to the city centre by various transport routes. There are two bus stops outside the venue along with regular traffic, meaning the site has high footfall potential. The area has a new development of 300 houses that have been built on the same road.

Kings Banqueting Suite benefits from having four areas of income; the function room which has the capacity for 200 people, a sports bar which has 60 seats, catering kitchen with a 40-cover dining area and takeaway license and first-floor accommodation with seven letting rooms. The site also benefits from having a beer garden, large on-site car park with 30+ capacity, pool table and jukebox. The site had a refurbishment completed in 2008 with £350,000 spent.

Trading Style:

Currently, the function room and sports bar are in operation, with the catering kitchen in occasional use when required for functions. With the right strategy and investment in place, this property has a huge opportunity to increase turnover in the four areas mentioned.

There are very few if any properties in the area with this amount of scope for different revenue sources. With the successful implementation of a food offering, be it outside catering, internal dining or takeaway based, this site can become very successful with the right operator.

The landlords are looking for an individual, a set of partners or even a team with a good level of experience and track record in catering, restaurant and bar operations. Key drivers of the site are increasing the turnover of current function room and bar operations, along with starting a food operation and renting upstairs accommodation. With a sound strategy and investment, this can definitely be achieved.

Private Accommodation:

There are seven rooms available to use or rent on the first floor of the property, with two bathrooms (one shower and toilet, one bath and toilet) and a shared kitchen. One of the main bedrooms also has an en-suite bathroom with a shower and toilet. The upstairs accommodation is currently in a good state and does not require investment for the short term.

Key Financial Information

Please note that the energy performance certificate is available from the landlord.

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