Well known Stockport bar put up for sale
A Stockport sports and music bar that has hosted karaoke performances by local stars including Blossoms frontman Tom Ogden, Catherine Fletcher of Sweet Female Attitude and Rory Wynne has been put on the market.
Owner Martin Cassidy has instructed the Bury-based business transfer specialist Blacks Business Brokers to find a new owner to take over Cassidys in Heaton Moor and allow him to retire.
Mr Cassidy intends to retain the freehold on the property after he retires.
He is proposing to grant the new operator a lease at a cost of £68,500 to take over the premises, plus weekly rent of £515.
Cassidys, which is located in a parade of shops on Shaw Road near Heaton Chapel railway station, was first opened by Mr Cassidy in 2004.
It currently employs seven part-time staff and last year generated revenues of £210,000 based on short operating hours.
The bar currently only opens in the evenings on weekdays and during afternoons and evenings at weekends.
It does not serve food, so its turnover is based entirely on drinks sales.
Mr Cassidy said: “Cassidys is a very popular community-based bar that is going from strength to strength.
“However, I want to put my feet up so I’m looking for someone to take over and build on what we have achieved over the past 15 years.
“Anybody who has studied the local area will know we are one of only two bars showing sport all year round, so it really is a ready-made business.
“I would ideally like it to be taken over by someone who would maintain the existing offering and build on it, though I would look carefully at any solid business plan that a prospective buyer was able to show me.”
Cassidys, a free house that has seating for 50 and a large standing area, is fitted with six flat-screen TVs and a projector screen. The bar is equipped with 13 pumps and five display fridges.
Amy Page, account manager at Blacks Business Brokers, said: “This is a great business with even greater potential. Mr Cassidy currently runs the business to fit in with his lifestyle but a new owner could easily increase revenues by increasing the opening hours and introducing food sales.
“Our client plans to retain the freehold so he is looking for a buyer with a strong long-term plan to take the business forward over the years to come.
“It would be well-suited to someone with solid experience in the sector who wants to make their mark and build a business of their own, and I expect strong interest now that the word is out.”