What is claimed to be Coventry’s longest-running nightclub – Scholars in Far Gosford Street – is on the market.
The fully fitted-out club, bar and music venue has been a popular location on Coventry’s social circuit since it opened in 1995.
Scholars shut-up shop at the start of the lockdown in March and its owners have now decided to sell-up and retire.
The agents selling it say the venue is in a great location and could be used for a variety of purposes – including as a restaurant.
The leasehold of the property is for sale for £49,950 – which includes all furniture and fixtures.
The particulars say the rent is £32,000 per annum and that there are no business rates.
There are nine months remaining on the lease, although a new lease is available.
The agents say Scholars has an outside bar, is free of tie, has a 24-hour drinks licence and an A5 hot food takeaway licence.
Scholars is being sold by Veritas Business Sales who say: “We are delighted to offer for sale this well fitted bar and music venue which is located in Coventry.
“The business was established by my clients back in 1995 and is Coventry’s longest running nightclub.
“They closed the doors back in March 2020 due to Covid and have decided to now offer the venue for sale so that they can enjoy a well deserved retirement.”
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Outlining its features the agents say: “What’s on offer is a fully fitted bar which has the benefit of an A5 hot food takeaway licence along with a 24-hour drinks licence and is licenced for 340 people internally and 140 externally.
“Three years ago they refurbished and invested in new equipment along with fixtures and fittings at a cost of circa £180,000 which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time.
“We believe that this would easily convert into an amazing restaurant and late bar which is a great base to build upon and as such early viewing is highly recommended as this is not to be missed.”
The particulars add: “Situated within a prominent and highly visible corner position on Far Gosford Street where it meets Vecqueray Street.
“ FarGo Village shopping centre is just yards away which has benefited from significant investment and offers an abundance of retail shops, bars and restaurants, all of which bring high levels of footfall to the area.
“ Scholars is adjacent to Sainsbury’s local supermarket and is a short stroll from Coventry University and Coventry City Centre.”
To find out more about the sale of the Scholars leasehold click here.