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.

WELL ESTABLISHED - PROFITABLE – BAR & RESTAURANT BUSINESS FOR SALE

We are delighted to welcome to the market 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.

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

Energy Rating D83

TO VIEW OR MAKE A BID Contact CPS Property or iamsold, www.iamsoldni.com

Starting Bid and Reserve Price

*Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change. Terms and conditions apply to the Unconditional Method of Auction, which is powered by IAM Sold.

Auctioneer's 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, the buyer and seller must Exchange immediately, and Complete 28 days thereafter.

The buyer is required to make payment of a non-refundable Contract Deposit of 10% to a minimum of £6,000.00.

The buyer is also required to make a payment of a non-refundable, Buyer Administration Fee of 1.80% of the purchase 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.

Referral Arrangements

The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.

Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.

Energy Performance Certificate (EPCs)

Energy Performance Certificates (EPCs) give information on how to make your home more energy efficient and reduce your energy costs. All homes bought, sold or rented require an EPC. EPCs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your home could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All homes are measured using the same calculations, so you can compare the energy efficiency of different properties.

Property Particulars

Please contact us for more information about this property.