Business for sale

Business description

One of few remaining ‘jewels’ a proper community real ale pub with substantial trade and high beer volumes. Located on the famous waterside in colne.
This is truly a most remarkable pub with growing beer volumes an eclectic trade base (not an alcopop in sight).

Truly the centre of the community and with a huge redevelopment of waterside imminent. Offered for sale as a freehold at £385,000 inc fixtures & fittings plus s.a.v.


*Sales £200,000 Inc V.A.T. with good G.P. and reconstituted net operating profit of circa £42,000.

*Catering currently franchised great opportunity to take in house and develop – currently circa £30/40k.

*Six real ales with total barrelage of 494 composite draught barrels.

*Large owner’s accommodation with room to expand.

*Imminent multi million pound redevelopment scheme of the immediate area for residential & leisure use.

*A fabulous thriving pub with traditional values and great bohemian trade base.

LOCATION (HG4 3RY)
The property is located on Waterside a famous area of Colne in Lancashire nestled in the much visited Pennine hills reminiscent of more famous areas such as Holme Firth and Hebden Bridge, real last of the summer wine country. The area is immersed in history with the pub playing a central part in the pageant that continues to attract visitors to this little old mill town.

The area is undergoing a renaissance with huge capital investment regeneration programs. Waterside is to have the first of large capital schemes in the area focusing on leisure with the river and the pub at the centre of the scheme. Already attracting a bohemian mix the pub is known in the Camera guides walking and music festivals and is used as one of on 4 roadhouses in the Colne blues festival.

Also exhibitions of artwork from local artists can be regularly seen adorning the walls of the pub, from the gifted amateur to a famous Pennine artist.

There are many famous walks in the surrounding hills and walking parties regularly use the pub as a drop in refreshment point or as a start and finish meeting place with the promise of a refreshing pint of real ale.

PROPERTY DESCRIPTION
The property was rebuilt from the original in the 1900’s from stone under a slate roof. It is classic Victorian architecture with many of the main features surviving including wonderful glazed wall tiles and a mosaic floor said to have been laid by Italian prisoners of war.

There are high ceilings with elaborate cornicing and large sash windows. From the entrance there is the MAIN BAR to the right carpeted with a bar servery and fixed seating, tables and chairs. (20).

To the left an open plan room again with fixed seating and loose tables and chairs (20) set up as a dining area until 9pm, Weds to Sun. Directly facing the entrance and to the rear is a small SNUG AREA WITH DART BOARD and carriage style seats (10) and next to the stair case is a POOL ROOM (10) with the CATERING KITCHEN leading off to the rear.

The Kitchen is in two areas one slightly raised from the other; it is well equipped and capable of meeting the needs of a busy pub food operation. THE CELLAR is underground and large, as one would expect from this period, comprising of a bottle store with stone shelving and two further areas for cellarage and storage. There is modern recently fitted cellar cooling.

OWNERS ACCOMMODATION
The owners accommodation is substantial made up of a main sitting room with two period cast iron fire places, it is said this used to be a snooker room and before that a function or dining room. There are two large double bedrooms and 2 bathrooms (1 en-suite), kitchen and numerous storerooms. There are also attic rooms, which offer further development potential.

EXTERNALS
The pub has an area to the front overlooking the river where picnic tables are placed with seating for (20) to the side is parking for the owner’s vehicle and a bin and store area to the rear. There is ample parking in the immediate area.

PREMISES LICENSES
We are advised that the premises benefit from licensing 9am until 2am Monday through to Saturday and 9am until 1am Sunday. Currently the hours being operated are Monday and Tuesday 12 noon until 11pm Wednesday until Saturday 12 noon until 12 midnight and Sunday 12 noon until 11 pm. A personal licence will be required and our associate training company would be only too pleased to assist.

TENURE
We are instructed to offer the business for sale by way of a freehold to include goodwill, fixtures and fittings and S.A.V.

SERVICES
We are advised that the pub benefits from mains Services with GAS central heating throughout. Rates payable are circa £840.00 p.a.

THE BUSINESS
This business is thriving currently operating under a lease it is being offered freehold (VP) with vacant possession. The turnover we have been told is going to be £200,000 Inc V.A.T. for this financial year and the lessee is willing to discuss the accounts with interested parties through G.A-Select.

The reconstituted net operating profit has been indicated at circa £42,000. The pub is best described as a destination alehouse with a strong local following.

Catering is currently franchised but there is no formal arrangement. Food is offered lunchtime and evening and is growing with an extremely high standard of appropriate pub grub being offered.

There are six real ales on offer and this attracts a huge following via word of mouth and of course camera that support the pub well holding regular meetings at the Admiral. There are numerous events held in the pub, regular blues nights and the Colne blues festival for which the Admiral is a road house, The trade is eclectic, bohemian with professional people musicians, artists trades people and every walk of life who enjoy a real pub with real people conversation and a good pint, it really is a revelation and can only benefit from the forthcoming development of waterside which will change the setting for the pub but not destroy the character.

I truly believe that with the food in house and a good enthusiastic couple this business can provide a good living, a substantial investment or investment opportunity and is certainly capable of turning over in excess of £300,000 per annum adding in food sales.

Ref: S4402F