Business for sale

Business description

Advent Business Sales is delighted to have been instructed to offer to the market this exceptionally well established public house with excellent future potential.

The public house, which in part dates back to 1390 has been in the hands of our client for 1½ years and is only now being reluctantly offered for sale to enable the owner to move nearer to his family on the South coast.

The business is restaurant based with a strong 75% dry and 25% wet sales split and is tied on beers, lagers and ciders with Enterprise Inns. The owner however, offers one guest ale at any one time.

The restaurant specialises in home prepared food and has an excellent mouth watering menu selection.

The restaurant, which has approximately 70, covers, opens 7 days a week and enjoys a very healthy trade at lunchtimes and in the evenings. The whole premise has an excellent ambience helped in part by the exposed beams and open fire place.

The business employs 1 full time member of staff, 3 part timers who work on average 16 hours per week and our client full time.

Our client has an excellent commercial kitchen which reflects its importance to the business, it includes:
• 8 ring gas cooker with double oven under
• 4 ring electric cooker with oven under
• 2 microwaves
• Meat slicer
• Water boiler
• Hot cupboard
• Grill
• Large walk in fridge
• 2 large upright fridges
• 1 freezer
• Dishwasher
• 2 sinks
• Range of stainless steel work surfaces
All walls are fully stainless steel clad.

We are advised that stock at cost is approximately £2,500.

Our client is prepared to assist a new purchaser for a hand over period to effect the necessary introductions to staff and regular customers.

TRADING HOURS
Mon – Sat 12 – 3pm
6pm – 11pm
(Fri & Sat 12pm)
Sun: 12 – 3pm

EXPANSION POTENTIAL
Our client has achieved excellent growth during the last 18 months and believes this should continue into the future as more and more customers are made aware of the excellent food and dining experience he has to offer.

This upmarket area is prepared to pay a premium price for a quality product. There is however, excellent scope to increase both sales and profits further by:
1. Opening the restaurant on Sunday evenings
2. Having bbq’s on Saturday lunchtimes
3. Having occasional live music
4. Advertising more as very little is done presently
5. Letting out some of the 6 bedrooms that come with the pub
FINANCIAL INFORMATION
We have been advised by the vendor of the following:
Annual sales: £180,000
Gross Profit: 63%
Accounts will be made available to interested parties after a viewing has taken place.

Please let us know if you require finance for the purchase of a business.

BUSINESS PREMISES
The premises are fully alarmed and have CCTV with 2 cameras, briefly comprises of the following:
. Exposed beams throughout, 2 separate entrances, 1 directly into the bar/lounge area with approximately 22 covers and an open fireplace.
. Through to the bar with 8 waiting seats/extra dining seats with open fireplace
. Main restaurant with approximately 40 covers depending on table configuration
. Ladies wc
. Commercial kitchen to rear of bar, side shelved storage area
. Gent w/c by other entrance lobby
.
First Floor
. private accommodation (over 2 floors) with 6 bedrooms (4 double, 2 single)
. Large lounge, 2 bathroom/shower rooms with w/c.
External
. Separate kitchen outside – 9 garden benches, smoking area
. Large detached dry stores building
. Large car park with approximately 40 spaces
TENURE: Leasehold
Original lease: 20 years
Remaining lease: 3 years
Review every: 3 years
Rent: £47,000

We are advised that the annual business rates are currently: £5,500