Thu, 01 Sep 2016 | BUSINESS SALE
The iconic Dry Bar in Manchester's popular Northern Quarter district, has been put up for sale for £4m, according to a report by the Manchester Evening News.
The bar has been popular among Manchester's revellers since it was opened in 1989 and is being sold with permission to turn the upstairs into a 69-room boutique hotel. The sale also includes the main bar and the downstairs Blue Brisk Club cocktail bar.
The bar was founded by Factory Records and the legendary Tony Wilson, who was behind much of Manchester's nightlife scene in the 80s and 90s, with the Dry Bar playing a significant part in attracting people to the Northern Quarter, which is now the centre of Manchester's bar and restaurant scene.
The business has a turnover of around £1.3m and is being listed for sale with Christie and Co. The current owners gained planning permission for the hotel extension in 2015 and decided that this is a good time to sell as they are not hoteliers. The area is, however, an extremely strong location for hotels.
The planning documents claim the upper floors are in disrepair but could provide "good value and distinctive accommodation" if developed correctly.
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