Downtown Penticton's social house, Tug's Taphouse is located in the heart of the entertainment district. The business has a loyal local customer base that has been developed over its history. Located just two blocks from the Okanagan lake, it's a busy hub of activity year round.
Prior to the COVID pandemic the business had significant revenue and excellent income. The location is surrounded by the key consumer amenities with great access for pedestrians, cyclists and ample parking. The business has been closed for renovations and the owner is looking for a buyer to restart the business in this excellent location.
The sale includes all equipment, furniture and fixtures, newly renovated and ready to open. There is also a liquor primary license in place and included in the sale. It is versatile and has a huge advantage over neighbouring businesses. The owner is also prepared to assist in transition.
The business is ideal for an owner/operator or partnership who are looking for a great opportunity to continue the successful track record of Tug's Taphouse. Take advantage of a retiring seller.
The business is located in a well maintained building in the entertainment district in the city of Penticton's official community plan. Located within a couple blocks there is a 7 theatre Landmark Cinema, a Distillery, Winery, 5 Breweries and a soon to be completed outdoor ice rink. The city is also in the final stages of completing an 8 million dollar investment in a lake to lake bicycle lane that passes right in front of the business.
A renovation was just completed which updated the washrooms, kitchen and flooring in the main part of the building, along with other cosmetic improvements. The liquor license is a Liquor Primary, which has advantages over other business in the district.
The building is located on 2 lots, approximately 60' x 100'. The building itself has 4,800 sq ft of space. The business is offered for sale at $475,000. The building and property together can be purchased for $1,320,000, which is a great investment on its own.