Business for sale

Business description

A renowned and highly regarded town centre inn located in the heart of the ribble valley opposite the norman castle in the sought after town of clitheroe lancashire.

A substantial town centre inn with untapped potential to introduce food trade as well as letting rooms for which planning permission has been granted offered at a realistic asking price 0f £159,950 lease assignment to include fixtures and fittings, goodwill plus s.a.v.

*Growing sales to £344,243 inc vat from 100% wet sales with a recon net profit of £63,984 year end may 2006.

*Lovely traditional victorian feel throughout roaring open fires, lounge 20, further lounge 25, public bar 20, snug 25 plus versatile function room 60 +

*Spacious well presented owner’s accommodation with period features throughout, lounge, 3 double bed rooms, kitchen & bathroom.
Car park (6) walled beer garden with views towards pendle hill.

*Easily managed operation from central servery – vast scope to introduce dry trade as well as letting bedrooms.

*20 Year landlord & tenant act protected lease commencing 1993 renewable at its end for a further 20 years at no further premium with a business rent payable of £32,000 pa

LOCATION (BB7 2JN)
The new inn is located to the heart of the ribble valley town of clitheroe directly opposite the norman castle for which the town is well known. A particular draw to the town is the open air market that continues to draw visitors from far and wide in to the town.

The town has retained much of its old character and has a wide range of shops and housing and is a highly regarded location in the ever desirable ribble valley. Clitheroe itself is situated in lancashire, on the southern edge of the yorkshire dales, and is well signposted from the a59 and is a popular base for tourists visiting the area of outstanding natural beauty known as the forest of bowland.

Dominated by its norman castle keep, clitheroe is the largest and most important town in the ribble valley. The area has a lengthy history, stretching back beyond the norman conquest. Ribble valley is the largest rural borough in lancashire and covers more than 200 square miles.

The area has a population of 53,960, with 44% over the age of 45. Clitheroe is surrounded by open countryside and resides under the auspicious presence of pendle hill, famous for its part in earlier times in the ‘pendle witches’ scandal and trials. The new inn is superbly positioned to take advantage of the many attractions that clitheroe and the ribble valley offer a fact that is reflected in the current trading information.

PROPERTY DESCRIPTION
A substantial and imposing double fronted two storey public house of part rendered stone elevations beneath a pitched slate covered roof with additional attached barn/out house with current planning permission to convert to 6 en-suite letting rooms.

The barn is not currently covered by the lease to the property placing all responsibilities for the repair and maintenance onto the landlord, the landlord is keen to have the barn written into the lease and to this end has agreed to put the building into good repair to include a new roof and ensuring the building is watertight. Planning permission is in place to convert to 6 en-suite rooms the landlord has in the past agreed to finance said works which if taken up on the offer would obviously be accompanied by a rent increase an option open to a new operator if so desired.

The grade ii listed building was constructed in the victorian era and retains many original and attractive period features throughout. This truly is a wonderful traditional victorian town inn which proves to be ever popular with both visitors and residents alike.

In keeping with the properties age and heritage the venue is arranged as a series of cosy traditional rooms most of which have roaring open fires. There are two lounge areas both with open fires and traditional loose and fixed pub furniture a public bar area with timber flooring and traditional loose pub furniture a further cosy snug area with open fire and a traditional land that time forgot feel.

Of further great benefit and potential to the business is the large function room which has many uses it is often used by a number of local groups, clubs and society’s to hold meetings and as a games area offering electronic games as well as traditional pub games.

There is scope to develop a catering kitchen area adjacent to this room and to use this area as a restaurant/dining area. The venue is serve3d by a timber bar servery with a large range of real ale wickets along with a few illuminated pumps. The venue is well regarded for its range and quality of ales and to this end has featured in the good beer guide for the past 12 consecutive years an achievement that is rarely achieved, this along with its many other listings make this an un-missable opportunity. Further ancillary accommodation is arranged as follows large easily managed trade cellar at basement level, gents wc’s at ground floor level and ladies wc’s at first floor level.

OWNERS ACCOMMODATION
Positioned at first floor level the private accommodation comprises 3 Double bed rooms, lounge, kitchen, bathroom and office. The spacious family sized accommodation offers a wealth of period features throughout and is well presented.

EXTERNALS
Occupying a prominent position opposite the Towns Castle close to the open air market and large public car park there is pull on car parking for around 6 vehicles to the front along with a large walled beer garden with views towards Pendle Hill to the rear. As well as the previously mentioned Barn/Out house area.

PREMISES LICENSES
We are advised that the business trades on opening hours of 11.00 – 12.00 pm Mon –Thurs, 11.00 – 01.00am Fri, and 10.30 – 01.00am Sat & Sun. A Personal License will be required and our training associates can assist with this for you if needed.

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 at its end under no less favourable terms) from ENTERPRISE INNS. The lease commenced Oct 1993 and has a current business rent of £32,000 pa reviewed every three years and being indexed linked.

SERVICES
We are advised that the pub benefits from mains electric, water, sewage & gas connections with central heating fuelled by mains gas. Advised business rates payable to Ribble Valley Borough Council are in the region of £7000 pa.

THE BUSINESS
Being offered for sale for the FIRST TIME IN 19 YEARS this super robust business has come to the market due to the personal circumstances of the current Licensee. CURRENT BARRELAGE IS AROUND 13 PER WEEK which the accounts up to May 2006 show as Turnover £344,243 Inc vat from 100% Wet sales with a Recon NET profit of £63,984 the business has shown strong year on year growth continuously for the past 19 years and has an excellent reputation both locally and throughout the region. There is potential for a new enthusiastic owner to continue to grow the trade by introducing a food offer for which there is undoubted potential along with the possibility of exploiting the current planning permissions and demand for letting accommodation.

The Pub has had only 3 Landlords in the past 70 YEARS which in itself is a remarkable figure and goes to show the true quality of the opportunity on offer. We are informed that current sales are 88% Draught and are giving an unbelievable GP of 78% this is achieved by offering on average 10 CASK ALES and specialising in a NICHE MARKET, the vendor will be very happy to discuss the trading aspects of the business during a formal viewing of the property which must be made by contacting GA-Select.

Accounts information will be made available to interested parties after viewing.

Ref: M4264L