South Beats bar in Croydon on the market at reduced asking price
South Beats, a modern bar and live music venue in Croydon, Greater London, which is currently on the market through specialist business property adviser, Christie & Co, has reduced its asking price, opening up the opportunity for a greater range of buyers to acquire the leasehold interest.
Situated on the bustling High Street and just a stone’s throw from Croydon’s main shopping centre, South Beats is well placed to benefit from high levels of passing trade and also fulfils a need for high quality nightlife destinations in the area.
Current owner, Darwin Singporewala bought the property from Christie & Co back in 2015 when it was previously called Half & Half. During this time, the property has been extensively refurbished and turned into a popular late night bar, which has capacity for 120 guests and is split across two floors. The ground floor comprises a main bar with cocktail servery and relaxed lounge area, which is fitted out with low level tables and soft seating as well as high level tables and chairs, while the basement level club has a low level seating area and DJ booth.
The property has the added benefit of a three bedroom owner’s flat with catering kitchen and bathroom situated on the upper floors.
Mr Singporewala is now looking to sell the leasehold in order to focus on his young family.
Stewart Harkness, Associate Director at Christie & Co is handling the sale and comments, “South Beats provides an exciting opportunity to take on a well established bar in great condition, situated in a fantastic area. The recent price reduction makes this an ideal property for new and experienced owners alike, looking to maximise on the already high trading and profit levels, whilst also further developing the business by increasing trading hours and potentially providing a food offering. A new operator could also look to utilise the upper floors as accommodation, thus further increasing their earning potentials.”
South Beats is being sold off a new leasehold asking price of £35,000.