Business for sale

Business description

An absolutely first class, superbly appointed food tavern with excellent local trade in an area fast developing as a prime dormitory for humberside and south yorkshire with excellent turnover and brilliant profitability in the town of barton on humber.

This really is a first rate business located right at the heart of the busy village of barton on humber with the wonderful mix of local and catering trade. Offered for sale by way of a lease assignment at £69,500 to include a very large inventory of fixtures and fittings, goodwill plus s.a.v.

*First-rate turnover of £280,000 inc v.a.t. With reconstituted net operating profits of £35,000 80% wet and 20% dry.

*Complete refurbishment to an extremely high standard only three years ago and in the best of order given the high levels of turnover achieved.

*High level of local trade with 2 darts teams 2 pool teams 1 football, 2 rugby and 1 fishing club.

*Locals bar ((50) seated pool table and gaming machines, restaurant area (40) covers also used a lounge bar. Function suite licensed for 150 with separate entrance and cloakroom facilities.

*Fully equipped catering kitchen with separate wash up area.

*25-Year lease with 24 years left to run fully renewable, landlord and tenant protected with partial tie.

LOCATION (DN18 5QP)
Barton on Humber is a substantial town on the south bank of the river Humber minutes from the magnificent Humber Bridge providing a link to Hull and York. It has major links via the M180, M18 and M62 from Grimsby to Leeds, Sheffield, Doncaster and Rotheram, making this a first class residential location. The Queens is on Queens street leading off from the main street. There has been a considerable influx of workers from the oil and associated industries located along the humber.

PROPERTY DESCRIPTION
The property is of brick construction rendered and painted white originally built as the village liberal club it was converted into a full on licence some years ago. There is a central bar servery linking the Locals bar (50) lounge bar / restaurant (40) and function room (150) there are two sets of toilets one adjacent to the Locals Bar serving the lounge also and the other independent with disabled facilities in the entrance lobby for the function suite.

The function suite has a raised stage area and a parquet floor dance area, all the seating is freestanding allowing for it to be arranged as per the requirement of the function. All the furniture throughout the building is matched and of an extremely high quality.

The decoration is fresh and light; there is a high quality kitchen and separate wash up area, walk in cold room and dry goods store area. The cellar is traditional and fully equipped with modern cooling equipment. The Locals bar has a half carpeted and half tiled floor covering where the pool table is located along with a range of amusement machines.

OWNERS ACCOMMODATION
At present there is no owners accommodation however the landlord has indicated that in the near future they would be prepared to add owners accommodation and planning has been given. This would be a matter for the new lessee to continue with the landlord but the process has begun. In the mean time there are a number of adjacent properties that are available for rental or purchase.

EXTERNALS
There is a canopy attached to the outside wall top provided for the smokers and an area for a few picnic tables, the car park has room for 10 cars and there is ample street parking next to the property.

PREMISES LICENSES
We are advised that the business’s premises license allows for trading Monday through to Sunday 11am until 11.00. 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 25 year partially tied lease from 2006, fully renewable at no further premium with full Landlord & Tenant Act Protection from Enterprise Inns at a business rent of £26,000 p.a.

SERVICES
We are advised that the pub benefits from mains services for electric and sewage and gas Central heating throughout. Rates payable are £8,486 p.a.

THE BUSINESS
Our clients have owned the business for twenty-one years and have developed the business to meet the demands of the local community and the function room has delivered an opportunity to grow the business still further. The last year ending accounts show a turnover of £280,000 inc V.A.T. with reconstituted net operating profits of £35,000 our clients are retiring and have bought a property away from the village.

This is a very vibrant and profitable business as can be clearly demonstrated from the audited accounts. The trade balance between wet and dry is key to its success it is truly the centre of the town community providing for all occasions.

The mere fact that there are 2 darts teams 2 pool teams 2 rugby teams, 1 fishing and 1 football team based at the pub are proof if needed that this is a very popular venue and very well supported. The food offer is strong and growing in reputation with many thank you cards being displayed in the entrance area a testament to the high regard in which the business is held.

It is partially run under management and a strong operation couple could deliver grater bottom line profit together with driving the function facility. We believe that a turnover of £400,000 could be attainable with the result of a net operating profit, what a great opportunity.

This is a chance to become a custodian of a great british traditional pub with strong trade and good operating profits.

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

Ref: S4430L