Business for sale

Business description

LOCATION
This family run destination pub, which was awarded the Greene King pub in 2003, is set in the heart of the Oxfordshire countryside, overlooking green farmlands.

Nearby is Milton Park, which is one of the largest industrial estates in Europe, Milton technology centre and the diamond project employs approximately 1,000 scientists.

Nearby towns include Wantage, Didcot and Abingdon. The area has road links via the A34.

The pub itself has a large car park which can accommodate 70 vehicles; additional on street parking is also available nearby.
THE BUSINESS:
Advent Business Sales are delighted to offer to have been instructed to offer to the market this extremely popular food led public house.

Established over 200 years ago and in the hands of the current vendors for the past 8 years, it is only now being offered for sale due to ill health.

The spacious premises are able to fit 100 covers inside and weather permitting, 100 outside. It has a 30/70 split wet/dry and an excellent very well equipped commercial kitchen which comprises:
• 6 burner gas range with oven under
• 7 commercial microwaves
• 2 twin deep fat fryers
• Salamander
• Dishwasher
• Freezers – 2 chest, 3 upright, 4 under counter, 1 small fish
• Fridges – 3 upright, 2 under counter
• Stainless steel extractor, splash board and work surfaces

The pub which is tied on beers, lagers and ciders only currently achieves outstanding net annual sales of circa £560,000 with no advertising.

We are advised that stock at cost is approximately £10,000.
REF: 9135OX

TRADING HOURS:
Mon-Sat: 12 – 3pm & 6pm – 11pm
Sun: 12noon – 11pm
STAFF DETAILS
The business employs 9 full time and 2 part time who work 10 hours each as well as the 2 vendors full time.

EXPANSION POTENTIAL:
As the business is very much food led with a regular shortage of tables most of the potential is centred around this area.
1. A large conservatory could be added at the side of the existing restaurant with extra tables
2. The kitchen and wash up area could be extended to allow them to cope with more throughout.
FINANCIAL INFORMATION:
We have been advised by the vendor of the following:

Annual sales: £560,000
Gross Profit: 53%

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:
Large well maintained premises with a good ambience. Many original features including beamed ceilings, open fire and part wooden floor.

40 cover restaurant, 120 sitting inside bars, 2 comfy leather sofas around a large coffee table.

A quiz bandit and cigarette machines.

Predominately slate tiled floor around the bar with good quality carpeting in the restaurant, non-slip flooring in the kitchen, disabled, ladies and gents w/c.

Central bar with attractive wooden facia, 3 chillers for wine and soft drinks, glass washer.

First Floor
• 5 staff bedrooms – 3 doubles, 2 singles
• Kitchen
• Corner bath with shower over
• Double bed owners room
• Additional self contained small house with 1 double bedroom, a dining lounge and a shower room

TENURE: Leasehold
Original lease: 15 years
Remaining lease: 10 years
Review every: 3 years
Rent: £65,000 P.A.

We are advised that the annual business rates are currently: £4,000