Business for sale

Business description

“Affluent cheshire” thriving suburban local with substantial yet growing sales, robust net profits and exceptional owners home.

A thriving business in a desirable residential area of the historic city of chester offered at a realistic asking price of £199,999 for this partial tie lease assignment to include superior fixtures & fittings, goodwill plus s.a.v.

*Substantial & growing sales of £600,000 inc vat y/e Oct 05 – 60% Wet 40% Dry

*Recently renovated trading Areas finished to a high standard. Relaxed seating area (15), Bar/Dining area (50+vertical) Games area, Large bar servery area

*Immaculate, totally refurbished owners accommodation, fitted kitchen, bathroom, 2 lounges, 1 office/4th bedroom. Must be seen.

*Large beer garden area, private garden and ample customer car parking (20)

*Positioned on Main road route into the centre of Chester within quality residential area

*20 year partially tied lease with 15 years remaining, fully assignable and renewable at its end for no further premium, Landlord & Tenant act protected

LOCATION (LCH2 1BD)
The business is approx 2 miles from the centre of Chester and can be found by taking the A5116 Liverpool road out of Chester. Alternatively, if approaching from J12 of the M53, take the A41 for approx 2 miles until it meets the junction with A5116, turn left onto A5116 approx ½ mile along on the left you will find this substantial suburban local.

This is a popular sort after mature residential area, that is some 10 mins walk from the Main Chester Hospital & their residential staff buildings. Within months the population is due to expand with the erection of 200 quality homes on the site some 3 or 4 minutes down the road.

Chester is a city growing in reputation and popularity attracting a number of major celebrities, not least ‘Posh & Becks’!

PROPERTY DESCRIPTION
Built in the 60’s as a purpose built venue, this detached property commands a prominent position overlooking a busy arterial routed into Chester with car parking to both front and side of the building.

Entering from the front of the building into the Bar through lounge area with ample dining tables to the left hand side. Totally refurbished recently to a very high specification the whole area gives a warm, welcoming feel to all who enter.

Clever positioning and exposed brick panelling give rise to snug, semi private areas whilst maintaining a feel of being in a significantly larger area enabling a buzz to spread throughout the trading area.

To the right of the main entrance is a small lounging area suitable for relaxing with coffee or liquors following a meal within the dining area, or indeed just for relaxing with friends.

There are quality carpets throughout giving way to toiled areas around the Bar Servery. The Bar Servery runs more or less the full length of the main rooms and is bright and well stocked offering both keg & cask ales.

Progressing along towards the back of the room again to the left is a large arch leading into a games area housing a pool table & gambling machines on a tiled floor.

Ladies & Gents toilets again of a high standard can be found on the left along with the disabled toilet before reaching the door leading to the commercial kitchen which is fully equipped with all the necessary equipment. However, should any new owner wish to extend the kitchen further, planning permission has been obtained and the current licensee would be happy to explain this.

Further tables ate to be found at the end of the bar servery in a light, bright area overlooking the garden.

The co-ordinated furnishings are a mixture of fixed perimeter seating and light oak quality loose chairs, tables and stools.

OWNERS ACCOMMODATION
Located to the first floor a large superbly decorated and most comfortable flat with 3/4 bedrooms, 2 lounges and luxury fitted bathroom and kitchen immaculately presented. There is a separate access and private garden area.

EXTERNALS
Parking can be found to the front and side if the property giving approximately 20 spaces. A garden trading area with benches & brick built BBQ can be found at the rear of the property alongside further private Garden Area.

PREMISES LICENSES
We are advised that the property trades 11am-11pm all week, with food served until 9.30pm. Weekend trade extends to 12am Fri/Sat.

A personal license is required and training associates can assist with this for you.

TENURE
We are instructed to offer the property and business for sale as a leasehold.

assignment of a 20 year landlord & tenant act protected (fully renewable at no further cost for another for another 20 years at its end under no less favourable terms) from Enterprise Inns and is just partially tied, commencing October 2001. Current rent is £74,000, with rent reviews every 5 years.

SERVICES
We are advised that the pub benefits from all mains services with central heating by Gas. Business rates are £18,304.

THE BUSINESS
Our clients have successfully run the business for 5 years and are now moving on & pursuing alternative business ventures . Excellent accounting information will demonstrate their success in building the business during their time at the pub.

The current trading position is £12.500 p/w with y/e Oct 05’ showing a t/o of £600,000 inc vat. The trade is split 60/40 in favour of wet sales, however both areas are still growing with potential, by no means maximised. Our client lives “off site” and we would expect that a re-focused new operator will be able to develop trade through and beyond its existing “glass ceiling” to even greater heights.

It would be reasonable to expect net profits of at least 20% to net of vat sales for a business of this nature ,providing excellent return on capital investment along with return on effort.

Ref: t4209l