Business for sale

Business description

Easy to run friendly 18th century character half timbered market town pub with bags of opportunity to take to next step

This is an ideal opportunity to get onto the pub ladder and enjoy all its benefits offered at £39,000 to include fixtures and fittings, goodwill plus s.a.v.

*Good Trading Foundation to build on of £209,205 inc vat – Virtual all Wet trade – plenty of food opportunity – good business, live free.

*Traditional beamed feature through lounge bar (48+ vertical drinkers) & cosy Snug (12) plus separate self contained function room(70)

*Beer patio (30) and town car parking (10)

*2 bed roomed owners accommodation with private entrance

*Located within popular Market Town close to legal professions + new build residential

*Landlord & Tenant Act protected 21 yr lease from 2006 with beer discounts renewable at its end anon at no further cost

LOCATION (LE10 1RJ)
Hinckley is a thriving market town lying within the district of hinckley & bosworth close to its county boundary with warwickshire and is easily accessed from the m69 & a5. The town is well positioned for the cities of leicester (11mls) and coventry along with favoured villages such as market bosworth (5mls), kirby muxlow, sutton cheney, twycross, ashby de la zouch and nuneaton town.

The area is well serviced with golf courses and sporting centres such as mallory park, the premier motor racing circuit. The pub is located on upper bond street being the continuation of the a447 ashby road close to its junction with the a47, as you travel into the town and is opposite a major building society office and up from the towns law courts.

Parking to the front of the pub is restricted during day time hours however there is off road parking for the pub to its rear from factory street. There are new build residential houses under construction on factory road along with mature victorian style homes along with some light commercial units providing a good market to capture new business.

PROPERTY DESCRIPTION
Believed to be of 18th century construction the property has a half timbered “black and white” frontage with brick shirt under a pitched slate roof. Internally the pub is a treasure of original period features and has a lounge bar broken down into smaller cosy areas with a fitted carpet , surround fitted benches, stools and chairs to polished tables.

Snug (12+) fronts the lounge with leaded windows, exposed reclaimed brick fireplace set into a beamed frame and furnished to the same style as the rest of the pub. A pub piano is a popular feature within the evenings and the pub is well known as a female friendly venue.

Central bar servery has a full range of real ale hand pulls along with bright beer pumps. Beer cellar is chilled at set below ground.

Catering kitchen is equipped with s/s units, has extraction fitted along with non-slip floor and a wash/prep room off. Toilets are available for ladies & gents and are fully tiled for ease of maintenance.

Function room (70) is located to the rear of the property and has its own bar servery.

OWNERS ACCOMMODATION
Located to the first floor comprising of 2 double bedrooms, kitchen, living room and bathroom. There is a private entrance to the owners home from Upper Bond Street.

EXTERNALS
To the rear of the bar areas is a PATIO (30) with timber benches and canopy set on brick paved surfaces. A car park with 10 spaces provides useful off street parking.

PREMISES LICENSES
We are advised that the business trades on opening hours of 4pm till 12 midnight Monday through Thursday with Friday & Saturday 12 noon till 1am and Sunday 12 till 12. The PREMISES LICENSE allows for openings of 10 am through till 1am all week .

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 popular 21 year lease from MARSDON’s commencing March 2006 being fully renewable at its end for a further 21 year period at no further cost and under no less favourable terms which includes discounts on beer purchases. Current rent is £27,000 set until 2012.

SERVICES
We are advised that the pub benefits from mains electric, water, sewage with heating by GAS. Business rates payable are £5,850 p.a

THE BUSINESS
Our client wishes to assign the lease solely due to personal health reasons. We have the clients accounts for year ending 28th February 2007 showing sales of £209.205 inc vat which when reconstructed, allowing for the personal style of operating and one off expenditure, a potential Disposable Net Profit of £26,000 after paying all expenses and living out of the business.

The addition of a food offer and extra openings, the business is well capable of sales circa £300,000 which could result in Disposable Profits of £50,000 for the year i.e. £1,000 per week having lived free. Had our clients not experienced health issues the business would most certainly be on the way to this level of trade and profits.

This is a business opportunity that will undoubtedly attract new entrants to the trade or managers who wish to run their own business

Ref: G4357L