Hoxon Bar and Kitchen appears to be for sale

Georgina has alerted us to a very recent ‘for sale’ advertisement on Facebook:

Following this up, we’ve discovered the following text:

“The business is offered for sale as a lease assignment with approximately 10 years remaining of this private ‘free of tie’ full repairing and insuring agreement. We are informed that the rent is currently £40,000 per annum with the next rent review due in 2023. There is a service charge of £9,360 per annum. We are advised that the restaurant benefits from all mains services with mains gas supplying the gas central heating (no services seen or tested). Business rates are advised as currently being approx. £23,000 payable per annum.

“The current owners have owned the business since 2003 and following a complete refurbishment in June 2017, the business has been rebranded as a stylish Bar & Restaurant. New owner operators will benefit from excellent fixtures and fittings and a growing business since the refurb. This offers an ideal opportunity for enthusiastic owner operators to acquire a unique high street property in an excellent location. We are advised that the turnover for y/e 06/18 is circa £400,000 (inc vat) with a trade split of 50% wet and 50% food trade”

4 thoughts on “Hoxon Bar and Kitchen appears to be for sale

  1. Jeeez! Nearly £85k a year overheads, and that’s before any staff and utility costs! And it’s not exactly in a high footfall area.

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