What is their overall condition?
All the assets in the pub and gambling areas are used but still in a good condition. The kitchen equipment have been used before but the current owner has not used the kitchen equipment at all.
Do any require repairing?
Nothing needs repairing, regular maintenance is done as and when necessary.
How have they been valued ?
Although the assets are in good used condition it was not valued but rather estimated at fair market value.
Which assets are on lease/HP and with whom?
The Point of Sale System - GAAP - is on lease which should be taken over by the buyer.
Will Seller settle or Buyer to take over?
The purchaser will take over the Lease for the POS system.
Are they presently insured?
General Insurance for this type of business in place - fire, business, all risk, public liability etc