Glitterball and other South Shields landmark nightspots put up for sale
A well-known town centre nightclub has been put up for sale with a price tag of Â£420,000.
Glitterball, in Ocean Road, has been put onto the market by its current owners - an investment company based in North Wales.
It is being marketed by Newcastle-based property agent Christie & Co and also includes the downstairs bar - Beach Bar - which closed in January.
Glitterball, popular with town centre nightclub revellers, continues to remain open.
Accounts for the year to December 31, 2016, showed a combined turnover of £783,998 for both businesses, with a profit and loss statement also available to seriously interested parties.
Meanwhile, less than a few hundred yards away, the venue formerly known as Raffles Wine Bar, which closed some time ago, has also gone onto the market.
The price tag for the property, which includes the ground floor bar, a first floor former nightclub, second floor office and storage space and loft space, is £395,000.
The bar closed due to its former owners wanting to concentrate on other business ventures.
Senior Agent at Christie’s Estate Agent, David Cash said: “Glitterball is very well known in the town and forms an integral part of the long established drinking circuit.
“The business remains profitable, but geographically sits outside of the owners larger portfolio, meaning they have taken the decision to dispose of it.
“The premises are available To Let, on a new free of tie arrangement and our clients will sell the freehold interest.”
Sign up to our daily newsletter
He added both venues would need refurbishment.
The advert for Glitterball reads: “Beach Bar closed in January 2018 due to the business model no longer fitting in with the owners wider portfolio. There is however an opportunity for refurbishment of the ground floor and to re-open a more modern bar. Alternatively the unit could be utilised as retail space.
“Glitterball continues to trade very well and is a very well used venue. The property is tired and in need of some refurbishment, presenting an excellent opportunity, for an experienced operator to re-launch the business under a different guise.”
Those looking to buy the property may also have scope to convert the building into office or retail accommodation subject to planning approval.
Anyone interested in either of the properties can call Christie and Co on 0191 687 0826.