Business for sale

Business description

location, location, location! a rare opportunity to acquire an historic inn located in the market square of this busy affluent shopping town

This is a busy pub with sound trading foundation & opportunities of further growth building food and coffee sales throughout the day, this site enjoys a prime location and is offered at a realistic asking price of £79,950 for this partially tied lease assignment to include most fixtures and fittings (some fixtures and fittings to be negotiated), goodwill plus s.a.v.

-Robustly trading at £271,000 p.a.(£5,200 p/w) generating a weekly profit after rent and all expenditures of £500+

-Presently only 3% of turnover is from food, with a large commercial kitchen there is a huge potential to grow the food trade throughout the day, as the pub benefits from this fantastic town centre location in the heart of the shopping centre.

-Prime location for selling coffee and snacks throughout the day.

-A spacious three bedroom owners flat with a roof terrace.

-Full of ‘olde worlde’ charm with oak beams & nooks and crannies in excellent repair throughout.

-Secluded beer patio at the back of the pub.

-10yr landlord & tenant act protected lease partially tied.

Location (mk2 3hu)
This site enjoys one of the best locations in leighton buzzard which is an affluent and expanding market town with a growing population of over 120,000. The site is located in the market square which is a wide picturesque street which is always full of shoppers and business people in the day and is the centre of the night live in the evening. The pub is located opposite the old historic fire station building which has now reopened as an ask pizza restaurant (part of the ask national chain).

One of the towns largest car parks is located behind the pub and on entering the square this pub is the first pub that is passed or the last one on your way out of the square. Leighton Buzzard is a growing prosperous town with an expanding residential side as the town is less than an hour from London via car or train; it is 10 minutes from the m1 and is located close to the prosperous towns of Milton Keynes, Hemel Hempstead, St.Albans, Aylesbury and Luton.

Property description
An historic old inn which is at home in this historic market square, externally the pub has a rendered frontage with a bay window and a slated roof, the paint work and frontage is in good repair.

The pub trades from one long room which is full of old world charm including beams and is enhanced with a wooden floor and traditional bar and a feature bay window which looks over the market square. the pub is divided into two distinctive areas the front of the pub has a pool table to the right and to the left poser tables for drinking, as you go further down the pub the bar is on the right and this leads into a tabled area that can seat over 35.

Throughout the pub there are plasma televisions on the wall. this long room has plenty of atmosphere and through the day makes an excellent relaxed & informal place to drink and has the potential to be an excellent place for snacks and coffee throughout the day. at night the room increases its tempo and becomes a great circuit venue and is ideal for karaoke, disco’s or live music.

There are well maintained ladies and gents toilets on this floor. behind the bar there is a large cellar with the ice machine and coolers, there is a separate spirit cupboard and the pubs office is downstairs. upstairs there is a large fitted commercial kitchen with commercial extraction and a hoist lift for food to be sent down to the bar.

Owners accommodation
A spacious and light apartment on the first floor comprising of 3 double bedrooms, living room with a modern gas fire place and wooden floor, fitted bathroom & sep w.c. the flat enjoys views over the historic market square and also has a roof terrace. the flat is well decorated and carpeted and in good repair throughout.

Externals
At the back of the pub is a secluded wooden decked area which has 4 large benches, canopies and a heat lamp. this area is walled and is a popular area throughout the year. in this garden is the smoking area which again has easy access from the bar.

Premises licenses
We are advised that the premises license allows trading monday- thursday 11am till 12 midnight, friday and saturday 11am till 1am and sunday from 12 midday till 12 midnight. the license allows for the performing of live music, dancing and disco’s. A personal license will be required and our training associates can assist with this for you along with other licensed retail training inc bii courses.

Tenure
We are instructed to offer the property and business for sale as a leasehold assignment of a 10 year landlord and tenant act protected (fully renewable at no further cost for another 10 year period “anon” at its end under no less favourable terms) from enterprise inns.

The lease started in september 2006 and the next rent review is in september 2011.the fully assignable lease has a current business rent of £26,000 pa. the business is partially tied with the ability to purchase wines/spirits & minerals from any source and has a 50% share of machine income.

Services
We are advised that the pub benefits from mains electric, water, gas, sewage with heating by gas. business rates are advised as £7,116 payable.

The business
The business has a consistent weekly turnover of over £5,000+ (turnover of £271,000 for 2007) and produces a weekly profit of over £500 after rent and expenses are taken out.

The business enjoys a strong wet trade but going forward has huge potential for the day trade for coffees and snacks to be fully exploited as just 3% of the business sales are resultant on food related opportunities for which a viewing of the pub will confirm a new owner of the outstanding “supply and demand” possibilities of this location.

It would be reasonable for a new food focused operator to add above £1,500 net per week to the sales income with additional gp of 60% i.e. £900 (£46,800 pa) resulting in an operation with a disposable net profit achievable of above £1,400 per week. its all there to be had……..

This is a “cash cow” business with plenty of further potential to grow sales & profits – an early viewing is recommended.this site has one of the best locations in this affluent town and has constant foot fall pasts its door throughout the day and night.

ref: b4438l