Popular cocktail bar and lounge, South Beats, situated in the heart of Croydon on the bustling High Street, has been brought to the market through Christie & Co, with a leasehold asking price of £85k.
The site, which was previously known as Half & Half, was purchased by the current owners through Christie & Co in 2015 and underwent a full refit and rebrand in late 2015 to become South Beats, a modern bar and live music venue serving an array of specialist cocktails, craft beers and personalised packages.
Set across two floors, the ground floor provides a relaxed lounge area with the main bar while the lower ground floor is arranged to accommodate a dance area and DJ booth, regularly hosting a resident DJ at weekends and private venue hires. Ideally located on Croydon High Street, the venue is ideally located to capture the high levels of passing trade and cater to the demand for quality nightlife destinations in the area.
The well established business has built up a good reputation, providing the perfect base for a new owner to take over, with further opportunities to grow revenue and profits through extending trading hours or introducing a food offering. With a currently unutilised catering kitchen on site, a new operator would be well equipped to capitalise on the day time food and beverage trade too.
Current owner, Darwin Singporewala is now looking to sell the leasehold of the business in order to focus on his growing family and upsize his home. He commented, “South Beats has been an amazing and profitable business that has grown year upon year, I will be sad to part with it however my personal circumstances have changed and need to do what is right and best for my family.”
Stewarts Harkness, Associate Director at Christie & Co, who is handling the sale, commented, “South Beats provides a great opportunity for a new or existing operator to take the reins of an established trade that has further potential to grow, with scope to extend its opening hours and offering, together with utilising unused accommodation on the upper floors.
There have been many changes within the centre of Croydon over the past years with the upcoming development of Westfield Shopping centre and increasing amount of residential properties being built in the area - like ‘Leon House’ opposite the premises accommodating over 250 apartments. This part of the high street remains part of the circuit and is predominantly privately run venues.