Business for sale

Business description

A stunningly located destination food tavern with positive turnover and profitability, in a canal side setting beside the village of burscough.

This large destination food tavern sitting alongside a picturesque canal demonstrates strong trade levels and profitability, offered by way of a leasehold assignment at offers on £218,000 to include extensive fixtures and fittings goodwill and s.a.v.

Extremely positive turnover for the year ending 2007 of £500,000 Inc V.A.T. with indicated reconstituted net operating profit of £85,000 50% wet and 50% dry.

*Extensive trading area with canal side location.
*Locals bar, restaurant, library.
*Large private accommodation.
*Minutes from the coast and Southport, Ormskirk, Skelmersdale and Wigan.
*15 year with 13 years remaining on a fully renewable tied lease, landlord and tenant protected.

LOCATION (L40 8JA)
Situated on the outskirts of the village of Burscough north of Liverpool and just inland from Southport one of he North west’s premier seaside attractions the property sits alongside one of the Leeds Liverpool canal tributary’s at the point of a road crossing so this forms a natural stopping point for the many canal boat owners and tourists alike.

With kind permission from the waterways authority the drinkers and dinners can sit alongside and watch this timeless sight. The business attracts from a large area Liverpool, Wigan and Skelmersdale and the many attractive villages in between. Approached via the A59 or A5029 it is a wonderful destination food tavern.

PROPERTY DESCRIPTION
Of brick construction under a slate roof this is a large property, the main entrance facing the canal leads too the Main bar, restaurant, covers, library, a single bar servery serving all the rooms. The premises are decorated in a rustic cottage style with leaded windows all very much in keeping with a canal side hostelry.

The restaurant is to the left on entering the premises and is split on two levels with two pillars breaking up the room into smaller intimate areas. The area immediately surrounding the bar has a large table in the bay window and other scattered tables and chairs through to the lounge bar giving extra locals drinking facilities or of course expansion for the dinning when required.

There is also a small library which is very intimate with three tables and chairs and of course book cases full of books for those who like a good read with their lunch and a pint.

There is a large catering kitchen with a rear yard area with walk in cold room and numerous other store areas in a compound to the side of the premises. A wash up area is separate and provides for the high volume of crockery put through at busy times. The beer cellar is on ground level and is large and modern with the latest cellar cooling equipment. A further store in the restaurant acts as a wine cellar.

OWNERS ACCOMMODATION
There is a generous apartment with an office, one double, one single a bathroom large dinning kitchen and separate storeroom. The office could be located into the storeroom and a third bedroom achieved if required.

EXTERNALS
What a great location, perfect for a film set with canal barges moored up alongside the pub picnic tables along side the water by kind permission of the waterways department. There is a generous car park for circa 30 cars.

PREMISES LICENSES
We are advised that the business’s premises license allows for trading Monday through to Saturday 11am until 12 midnight then 12 noon until 11.30 pm on Sunday. A personal license will be required and our associates would be delighted to offer assistance in this respect.

TENURE
We are instructed to offer the business for sale by way of lease assignment of a 15 year tied lease from 2006, fully renewable at no further premium with full Landlord & Tenant Act Protection from Punch Taverns at a business rent of £56,000 p.a. with the next rent review in three years time.

SERVICES
We are advised that the pub benefits from mains services for electric and sewage and gas Central heating throughout. Rates payable are £10,000 p.a.

THE BUSINESS
A good solid business with strong accounts, turnover for the year ended 2007 at £500,000 inc V.A.T. with reported reconstituted net operating profit of circa £85,000 50% wet and 50% dry with beer barrels for the year at circa 220. With such a diverse trading base the business has a good feel to it and has strong trade all year round, especially with tourists and local people in the summer months not only attracted by the pub and it’s great food offer but also that location with canal boats passing all the time, next to the pub is a swing bridge operated by the barge, which of course acts in stopping all canal traffic and makes a perfect stop off point for refreshment both lunch time and evening.

We are finding that this type of business is trading strongly as it can offer good margins on a business mix with the wet element being supported with food and the diverse segmentation of clientele. We also believe that a further growth in trade is achievable taking the turnover to the region of £650,000 with resultant operating profits.

A classic destination food tavern showing bullish turnover and profitability offering a good return on investment along with a great lifstyle.

Accounts information will be made available to interested parties after viewing.

Ref: S4434L