Business for sale

Business description

Idylic well presented popular 1798 village pub with restaurant located in sought after affluent triangle of leicester-coventry-rugby

This is a most lovely pub with obvious opportunities of further growth offered at a realistic asking price of £72,000 lease assignment to include fixtures and fittings, goodwill plus s.a.v.

*Strong Trading foundation to build on of £240,499 inc vat – 70% Wet / 30% Dry split – unbridled further potential to develop – low hours

*Character exposed beams and period features with a modern influence- Through Bar (22+)-Formal Dining(22)-Private Dining (10)

*Owners well appointed apartment – flat

*2 decked patios inc canopy – car parking (20)

*Sought after historic village with quality housing – ideal location to live & work

*10 year Landlord & Tenant Act protected partially tied lease with beer discounts from “03” renewable at its end for a further 10 years anon at no further cost and no less favourable terms

LOCATION (LE17 5BT)
This is a most splendid and popular village located within the ever popular sought after and affluent triangle of leicester – coventry – rugby just of the busy a5 close to the m69 at j1 and m1, junctions 20& 19 and m6 j1 yet set into some of the most delightful traditional english countryside with golf courses, equestrian centres, well healed villages such as leire, sharnforth, ashby parva, dunton basset and with hinkley, rugby, & coventry near by.

The village of ullesthorpe lies just off the a5 through claybrooke magna towards lutterworth with the pub sitting on a corner position on main street amidst traditional quality residential homes.

PROPERTY DESCRIPTION
Constructed detached and of leicestershire brick with some stone under pitched roofs in 1798 the property holds an un-missable corner position within the heart of the village. Enter from the properties rear through a vestibule into the main trading areas and be impressed by its quality and style which has been achieved with a blend of traditional finishes with retained old oak beams and a more modern contemporary influence to its décor and furnishings.

The bar (22+ vertical drinkers) has a mixed hard floor surface finish with reclaimed timbers and tiles. Furniture is robust and of light wood with chairs and perimeter seating ideal for eating or drinking.

Main dining area (22 covers) is on a raised carpet area with similar matching furniture. Private dining (10) also used for pubic & family groups etc has a matching décor and finish with all areas having period feels to them.

Central bar servery of light oak construction with polished counter top having real ale wickets and bright ale pumps and a useful back fitting for merchandising. Ladies & gents toilets are to a high standard. Catering kitchen is located to the 1st floor and is fully equipped to a high professional standard, spacious and is serviced to the trading areas by way of a large “dumb waiter” lift.

OWNERS ACCOMMODATION
Located to the first story and comprises of a Double bedroom, Lounge, Fitted kitchen, Shower/wc and has its own private entrance to the rear of the property or from the pub. Our clients live “off site” and let the flat out however VP-(vacant possession) will be guaranteed.

EXTERNALS
From the double rear doors there are 2 decked patios with timber benches and one with an awning which are popular with all customers. Car parking is available for 20 vehicles.

PREMISES LICENSES
We are advised that the business trades on opening hours of Monday closed am then 5pm till 11pm.T-W-T-F 12 noon till 2pm then 5pm till 11pm.Saturday 12noon till2pm Then 6pm till 11pm with Sunday 12noon till 3pm then 7pm till 10.30pm.

The Premises license allows for 11am-11pm Mon-Weds with 11am till 12pm Thurs, Fri & Sat and Sunday 12noon till 10.30pmThere is tremendous opportunity for all day trading, our clients live off premises so chose to close 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 partially tied leasehold assignment of a 10 year landlord and tenant act protected ( fully renewable at no further cost for another 10 years anon) being Free of Tie for Wines Spirits & Minerals and with beer discounts. Current rent payable is £40,019 pa. and the lease is a PUNCH GROWTH LEASE commencing June 2003.

SERVICES
We are advised that the pub benefits from all mains connected . Business rates payable are £5,555 pa.

THE BUSINESS
Our client wishes to assign the lease for truly personal reasons which they will reveal at viewings. Having owned the business for 4 years they have developed a strong well balanced business providing a good food offer but without neglecting the wet side of the business however it is obvious that with a new owner living on site the business will thrive further in both directions. Sales to April 06 show £219,138 inc vat and 07 £240,499 inc vat on 70% Wet / 30% Dry split.

The potential of this business has yet to be realised but in our experience would expect to see sales grow to £300,000 with a new focused owner. Current R N Profit (after adding back exceptional and one off or personal expenses) show circa £30,000 but once more can identify well in excess of £50,000 available to a new owner after paying all bills and of course living free.

This exceptional pub needs to be considered and viewed early to take advantage of all it has to offeer to a new focused owner – its all there to be taken.

Ref: G4325L