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Vetro bar in Billericay - revamped for £550K, on the market for 'bargain' £150K
A BILLERICAY bar which underwent a £550,000 revamp 14 months ago is on the market – for just £150,000.
Dozens of potential buyers are said to have expressed an interest in Vetro bar, in Western Road, since it was offered for sale.
The champagne bar’s November 2012 refit included new tinted windows, designer lighting and fittings imported from Italy.
It closed suddenly earlier this month, with owners Laurence and Julie Holder explaining they could no longer justify spending money on the business. More than 100 would-be buyers have shown an interest in the bar, which includes a VIP bar, a lounge, main bar and an outside dining terrace.
Gerard Biagioni, head of business sales for estate agent Dedman Gray, expects it to be sold within two months and open again by April.
He said: “I don’t foresee our client doing anything to reopen it.
“I don’t think he can justify spending any more time or money changing things around.
“It’s a staggering development, with no expense spared.”
Mr Biagioni added: “People have their own opinions of what it should be used for and they range from the sublime to the ridiculous.
“The underlying idea seems to be to turn it into a Parisian-style brassiere cafe, offering good quality coffee, breakfast and light lunches for shoppers, moving to a bar menu for the night time, when there would be music and entertainment.”
Entrepreneurs who already run similar bars elsewhere in Essex have shown an interest, and Mr Biagioni said he didn’t believe a national chain would take on the site.
He described Vetro as a bargain, since it would normally cost £500,000 to get a bar up to the same standard, and this one was ready to reopen.
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