Business for sale

Business description

A popular community pub with huge further potential on main “circuit” of bustling township of ilkeston derbyshire

Take advantage of this superb business proposition offering excellent potential for committed entreprenuerialhands-on partnership offered at a realistic asking price of £39,000 leasehold to include fixtures and fittings, goodwill plus s.a.v

Sales y/e NOV 04 circa £156k Inc VAT-100% Wet sales – Unbridled potential to develop food offer and functions

*Prominently positioned within good spending working town centre

*Traditional Public Bar (60), Snug Bar (40), Function Room (150)

*Fully equipped commercial catering kitchen

*Substantial 5 bed family owner’s accommodation

*14 years remaining on protected and renewable lease with rent set till 2011

LOCATION (DE1 8AP)
This is a working PUB located on the main drinking circuit of the bustling township of ILKESTON within DERBYSHIRE with all its splendour and magnificence. Being located in the heart of Ilkeston, this busy popular traditional community PUB can easily be reached from J26 of the M1. Situated Twix Nottingham & Derby; the town of Ilkeston is a growing residential & commercial location with new housing and businesses increasing places of interest and spectacular countryside.

PROPERTY DESCRIPTION
This “hard working” community PUB is an impressive & substantial 2-storey property of brick construction under a pitched, tiled roof occupying a superb prominent position.

Main entrance at the front leading to the lobby with access to the public bar.

Public Bar (60+ ) is a good sized open plan room having a feature return bar servery with a back fitting and a range of trade optics and refrigerated bottle coolers which is complimented by the fixed upholstered perimeter seating with loose polished tables and upholstered stools. There is also a pool table with lighting over, a darts throw, and AWP & a juke box, and access to the Lounge Bar & Function room.

SNUG BAR (40 +) is a cosy & inviting room with a return bar servery & fixed upholstered seating with loose tables & upholstered stools. Adding to the relaxing ambience is the beamed ceiling & walls.

Function room (circa 150) is a good sized room with brick built return bar servery with polished counter. There is a mix of loose tables & chairs & has a wooden dance floor area and a brick built DJ booth. Ladies & Gents toilets are to a high standard.

Lower ground floor cellar with delivery access and is fully chilled. Catering facilities include a compact commercial kitchen with stainless steal appliances & preparation surfaces (not tested).

OWNERS ACCOMMODATION
Situated on the 1st floor, this spacious arrangement comprises of 5 bed rooms, lounge, office & bathroom

EXTERNALS
At the rear there is an enclosed private garden & private parking facilities. Patrons car parking for circa 6 cars to the pubs frontage along with timber benches.

PREMISES LICENSES
We are advised that the business has a Premises License from Mon-Thurs 9am to 1 am, Fri & Sat m9am -3am, and Sunday 9am – 1am. The current trading hours are: Mon-Thurs 2pm – 11.30pm, Fri & Sat midday-3am and Sunday-midday-midnight.

Leaving plenty of scope for further development of the business. A Personal License will be required and our training associates can assist with this.

TENURE
We are instructed to offer the business as a lease assignment with full Landlord & Tenant Act Protection being fully renewable at no further cost at its end with approx 14 years remaining, from Punch Taverns with a current business rent of £27,000 not reviewed until 2011

SERVICES
We are advised that the business benefits from all mains services with central heating by gas. Business rates payable are advised as being £3,500 p.a.

THE BUSINESS
Our client, in situ for the past 16 years & has been in the trade for many successful trading years & solely due to health problems has decided to retire from the trade. Our client operates this well established community PUB with the assistance of 1 full time & 3 part time member’s of staff.

This popular & well established PUB is a successful well patronised business, the current owner having established a strong trading foundation yet still offers new enthusiastic owner operators plenty of scope upon the sales.

Y/e Nov 04 circa £156k Inc Vat-current sales are consistent with these figures.

In our opinion, there is massive potential to increase the sales by simple increasing the trading hours with the introduction of food, taking it to even greater levels of trading and would expect new, fully focused enthusiastic full time owner operators to achieve a t/o in excess of £250k.

There are plans currently being considered for a complete refurbishment by Punch & should be available for perusal in the near future (sale not subject to this).

Ref: G4412L