Business for sale

Business description

Enviably positioned well favoured countryside canal fronted former lock keepers inn on marina with main “a” road positioning

Enjoy quality of life with a robust business provided by this most delightful canalside pub offered at a realistic asking price of £129,500 lease assignment to include fixtures and fittings, goodwill plus s.a.v. Free of all ties

*Excellent trading foundation to build on of £340,00 inc vat – 55% Dry to 45% Wet – plenty of room to grow business with £ ½ m potential

*Easily run open plan through lounge bar & dining area (65+ vertical drinkers)

*Outstanding external trading areas (300+) inc canal side picnic benches

*Comfortable 2 bedroom owners accommodation over looking canal

*“Birdingbury Wharf” on Banbury – Rugby A426 within the “leafy lanes of Warwickshire”

*20 year Landlord & Tenant Act protected partially tied lease renewable at its end for a further 20 years anon at no further cost and no less favourable terms

LOCATION (CV23 8HQ)
Steeped in the mystery of the leafy lanes, ancient market towns, historic castles and landmark internationally recognised visitor attractions of “sheakspeare country” and the cotswolds, lying just to the east of warwick, stratford upon avon and royal leamington spa on the main a426 banbury to rugby road makes birdingbury wharf an idyllic visitors attraction.

Sitting on the grand union canal with moorings close to stockton top lock and marina the pub commands an un-missable position which also sits on a main cycle route to leamington spa providing a “favoured watering hole” for day visitors to the area and from all over the globe enjoying this most special part of unspoilt olde england. It doesn’t get to much better than this !

PROPERTY DESCRIPTION
Constructed detached of locally fired bricks with some mellow stone under pitched roofs having originally been built as a lockkeepers tavern in the mid 1800’s providing hospitality and sanctuary for the horse drawn barge traffic on the grand union canal which is used today as a leisure based attraction for those who enjoy the best of english countryside and heritage.

Through the main lobbied front door or coaching arch into the main body of the pub. The lounge bar runs through to an area set aside as a dining area (65 + vertical drinkers in total) and has a mixed blend of traditional country pub with a contemporary input mixing old and new.

The dining area is set raised and has large light bearing windows, generous light wood tables and chairs set on a patterned carpet. The main bar has a mix of low lounge seating and furnishings more suited for eating again with carpeting. The central bar servery has a renowned canal map above and a traditional canal style front bar with counter top which holds the beer pumps, coffee machine and general merchandising.

Beer cellar is set deep and is fully chilled. Catering kitchen has a full range of commercial equipment. Toilets are provided to a good standard for ladies & gents.

OWNERS ACCOMMODATION
Located to the first story having a canal side private “front door” (note –canals can’t flood), comprises of 2 Double bedrooms, fitted kitchen, sitting room and bathroom with w/c. A balcony overlooks the canal moorings.

EXTERNALS
The outside trading areas are decidedly mouth watering, both as a pleasing place to live and as an OPPORTUINITY to gain trade and bottom line profits. To the pubs frontage, set on the canal side is a row of picnic benches seating around 60 plus standing, then to the rear of the pub a decked patio area seating 80 which runs onto the main grassed area with family play features which holds above 150 people. Car parking runs to the front of the pub towards the marina and holds around 60 vehicles. Altogether most exceptional

PREMISES LICENSES
We are advised that the business trades on opening hours of Monday 11.30am till 3pm then 6pm till 11pm all week with all day openings Sat & Sun. The Premises license allows opening from 10am till 12 midnight all week with 1am Sat & Sun. There is tremendous opportunity for all day trading, our clients chose to close down to suit their own circumstances. 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 20 year landlord and tenant act protected (fully renewable at no further cost for another 20 year period “anon” at its end under no less favourable terms) commencing 2000 from PUNCH TAVERNS and is partially tied with FEE of TIE for Cider, Wines, Spirits & Minerals + 100% retention of machine money. The fully assignable lease runs from 2004 and has a new business rent of £39,000 pa without index linking.

SERVICES
We are advised that the pub benefits from mains electric, water, sewage by septic tank (renewed summer 07) and Gas central heating. Business rates payable are £7,192 pa.

THE BUSINESS
Our client wishes to assign the lease and possibly acquire a hotel based business which is their background. Current year trading is running at circa £340,750 inc vat (y/e Dec 06 £312,794 inc) on a split of 45% Wet to 55% Dry without any machine income.

Without doubt this business with the focus of a more pub orientated new owner could easily return annual sales of £½M bearing in mind the extra trading opportunities available and a re-focus on market style. Current RNP is circa £31,000 however a comparable business should return 20% on net of vat sales i.e. £53,000 (2006) with £58,000 projected this year and into SIX figures when the optimum sales bench mark of £ ½ M is reached.

Fall in love with this mouthwatering property its location and its robust profit potential – an early viewing is recommended

Ref: G4327L