Business for sale

Business description

Thriving unopposed mellow stone 1700’s village inn located within the romantic backdrop shireland of the cambridge – lincolnshire boarders

This is a most exceptional business and home offered at a seriously realistic asking price of £180,000 lease assignmnet to include fixtures and fittings, goodwill plus s.a.v.

*Robust Trading foundation to build on of £423,488 inc vat – 56% Wet to 44% Dry with undoubted opportunity to develop food trade to greater heights

*Cosy atmosphere beamed Inglenook Lounge & Bar (65+ vertical drinkers) – bright Dining Room (40) with “aircon”

*Owners well presented three double bedroomed accommodation inc private garden & entrance

*Smashing safe family beer garden (100+) with open aspects – heated patio (30) – c/p (40)

*Architectural gem within outstanding wealthy village close to favoured market towns

*Exceptional 20 year Landlord & Tenant Act protected FREE OF TIE lease from “02” renewable at its end for a further 20 years anon at no further cost and
no less favourable terms from private landlord – rent index linked only

LOCATION ( PE6 9HP )
Discover the romance of the South West Lincolnshire and Cambridgeshire Shirelands , a gateway to one of England’s most favoured locations to live, work and visit. There has been a settlement in West Deeping since pre-historic times with the present village being one of the most sought after & picturesque locales in the two counties and lies within a crook of the River Welland.

The 14th Cent St Andrews Church lies across the meadowland from the ancient arched stone bridge over the river while mellowed stone houses of the village line the ½mile of the Old Roman Road known as king street which is the main street of the village with the Inn occupying No 48.

West Deeping lies within the deepings just off the A16 “brown signed” , close to the historic market towns of Grantham (A1), Stamford, Bourne & Market Deeping with “honey pot attractions” such the East of England Showground’s, Belvoir Castle, Belton House, Burghley and Harlaston Manor within closed proximity.

The location has strong demographics favouring families with high disposable incomes and un-mortgaged property ownership with a population within South Kesteven of circa 124,788. www.selectinns.co.uk to view the Inns web site.

PROPERTY DESCRIPTION
Unspoilt by time and improved with loving care and attention the inn dates back to the 1700’s and is the only pub or retail business within the village. The property is detached and primarily of mellowed stone construction under pitched tiled roofs.

Lounge bar follows through to a games room (65 + vertical drinkers) which has a retained inglenook fireplace with living fire, fully carpeted except for hard floor surfaces to the bar curtain.

Low beamed ceilings, exposed stone walls, polished wood tables and low settees provide a high degree of customer comfort and ambiance.

Central bar servery is well positioned with excellent back fittings for merchandising and real ale wickets to its counter top. Dining room (40) is fully air-conditioned with a bright and airy feel to it along with an striking “a” framed ceiling and double doors leading out to the patio.

Beer cellar is located for convenience to the ground floor. Catering kitchen is of high modern specification with commercial equipment. Washroom facilities as to a good standard and up to date.

OWNERS ACCOMMODATION
A private breakfast- day room with fitted quality kitchen is located to the ground floor with a private entrance along with split cottage door to the secluded private garden. To the 1st floor there are three double bedrooms ,spacious lounge and family bathroom. The loft space is used for storage and suitable for conversion ( subject to permissions). These are owners living quarters well above the average.

EXTERNALS
Set to the main entrance of the Inn ,to the rear of the property is a well presented PATIO (30+) with timber picnic tables and LPG space heating. The patio has direct access to the dining room and toilet /lobby areas. A family garden (100+) with sweeping country views and robust children’s timber play equipment provides secure entertainment for youngsters whilst adults can enjoy the fresh air and offerings from the Inns bar & kitchens. Car parking is available for 40+ vehicles

PREMISES LICENSES
We are advised that the business trades on traditional opening hours of 12 noon till 3pm then 6pm till 11m Mon through Fri with Sat 12 noon till 11.30pm and Sun 12 noon till 11pm.The Premises License allows for trading Mon – Thurs 11am till 11pm , Friday & Sat 12 midnight and 11pm closure on Sunday 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) from a private landlord. The lease runs from 2002 (Nov) and has a current business rent of £33,723 pa with only index linked increases. This EXCEPTIONAL LEASE provides a TOTAL FREE of TIE agreement for ALL products and machine incomes.

The business will not be available for assignment until later within the year however our clients will be able to assign pre-Christmas to allow a new operator to gain full benefit from the festive seasons trade but would recommend early exchange of contracts to secure this most exceptional opportunity. It is envisaged a new owner will be experienced and the assignment is subject to satisfactory references and meeting with the freeholder.

SERVICES
We are advised that the pub benefits from mains electric, water, gas, sewage with heating by Gas.. Business rates payable are £1,488 pa.(TRR)

THE BUSINESS
Our client wishes to assign the lease after trading successfully over a 5 year period and intends to “semi retire”. During this time trade has consistently grown to account year ending 30th Nov 2005 , sales off £409,656 inc vat with 06 coming in at £423,488 and 07 showing a further increase on a sales split of 56% Wet to 44% Dry , GP of 52% and Recon Net Disposable Profits (after adding back personal and exceptional expenditures) of above £73,000 having lived out of the business.

With the addition of currently unused opening hours and further attention to “margins” it would be reasonable to expect to grow trade to above the £1/2 million marker with Disposable Net Profits in excess of £100,000 making a “handsome” return on effort and investment.
The business trades as a destination food tavern and friendly village local with 2 darts teams, crib and is popular as a meeting point for Motor Cross events , 20/49 Vintage Touring Rally’s, walkers, etc.

This is an exceptional business opportuity “in waiting” and comfortable family home within a most special locale and should be viewed at the earlest time to appreciate its full potential

Ref: G4295L