Business for sale

Business description

Unique fully renovated substantial quality village inn with a fairy tail 13th century castle to its gardens

This is a well known destination inn enjoying a strong position within an affluent historic locale offered at £149,000 to include fixtures and fittings, goodwill plus s.a.v.

*High Trading Foundation to further build on of £505,068 inc vat – 40% Wet to 60% Dry -massive profit potential – recently fully renovated

*Stripped light Oak beams, exposed stone & brickworks within quality Lounge Bar ,Locals Bar ,Dining Rooms & Settee lounge (112+ vertical drinkers)

*Exceptional externals inc lawn gardens (200+) edging “moat” – car park (30)

*Spacious 3 bed roomed owners accommodation ideal for family

*Located close to medieval Shrewsbury & Welsh borderlands(A5) at Oswestry

*Partially Tied Landlord & Tenant Act protected 15 yr lease renewable at its end anon at no further cost

LOCATION (SY11 4DF)
Hard to begin with the description of the setting and location of this unique village inn but here goes anyway. Imagine a “fairytale” 13th century castle with moat and all, set on 12 acres, owned by the local community which was constructed to keep out welsh raiders and was stormed and took by force by oliver cromwell in 1643 and has recently undergone a £1.5m restoration programme, then think of it as at the bottom of your beer garden, inspiring to say the least, a magnet “honey pot” attraction to put it into perspective.

To top this you are 1 mile from babbinswood (babes in the woods) and as folk law would decree be the birthplace of dick whittington, oh and also linked with the holy grail. The great english landscape artist william turner sketched the castle amongst others of lesser notary. This amazing locale is to be found on the a459, known as castle street at the centre of whittington just off the a5 to the outlying area of oswestry, shropshire.

PROPERTY DESCRIPTION
The property commands a main road semi-corner position under the shadows of whittington castle and with there curtlidges adjoining can be honestly proclaimed as the closest pub to the castles grounds.

Built around 200 years ago there is believed to have been some sort of hostelry on this site since the legends of robin hood (believed to have a local connection) and the building is detached and of stone and brick construction under pitched roofs.

Internally there are no disappointments with all the trading areas having been renovated over the past couple of years to a high trading standard. This includes a lounge bar(20+ vertical drinkers), locals bar(20+), settee lounge (12) , main dining room cum conservatory(40) (over looking the castle) and smaller dining room(20) also used for private parties.

Furnishings are of quality light oak with a mixture of soft and hard floor surfaces, deep set windows, exposed stone and brick works and subdued wall lighting providing additional ambiance to the total experience.

The central bar servery is of medium oak construction with real ale wickets set into its polished counter top. Beer cellar is below ground and fully chilled. Washrooms are to a high standard including ladies, gents & disabled.

Catering kitchen is fully equipped with commercial units including walk in fridge, s/s tables and under counter refrigeration, combi-steamer and cooking range on oven along with fryers, microwaves etc. With full professionally fitted s/s extraction.

OWNERS ACCOMMODATION
Located to the first floor with 3 double bedrooms one of which is en-suite, large beamed living room, family bathroom with Jacuzzi bath, fitted kitchen and spacious office.

EXTERNALS
The lawn gardens have timber picnic benches set down to the “moat side” of the Castle with the ancient property providing a romantic backdrop, almost surreal in atmosphere, with ducks bobbing in and out of the water playing with the birds and other wild life that enjoys this special site. Hard surface car parking is provided for approx 30 vehicles

PREMISES LICENSES
We are advised that the business trades on opening hours of 11 – 11 all week except Sunday which sees 12-11pm (food not available during afternoon periods).

The Premises License allows for 8am till 12 midnight all week except Saturday which has 1am closure. 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 15 year lease from PUNCH commencing 2004 being fully renewable at its end for a further 15 year period at no further cost and under no less favourable terms which include NO TIES for Wines, Spirits & Minerals Currant business rent is £53,000 p.a.

SERVICES
We are advised that the pub benefits from mains electric, water, sewage with heating by GAS. Business rates payable are £6,821 inc water .

THE BUSINESS
Our client wishes to assign the lease to focus on moving to the West Country. Sales currently run to £505,068 inc vat on a split of 40% Wet to 60% Dry with a GP of 56% overall. (Sales trading year to 31/03/06 show £433,315 inc vat).

It would be necessary to see past the accounts to reconstitute the Net Profits using your own applied expenses and would expect this to achieve a Disposable Net Profit of around 20% of Net Sales i.e. £86,000. With further focus on developing sales for the business it would be within expectations to suggest that sales could grow beyond £600,000 with a Net profit above £100,000. This after paying all expenses, rent and living out of the business.

An opportunity to enjoy the enviable positioning of this unique business and take it beyond the existing robust trading foundation and provide a robust profitable and enjoyable business and homE.

Ref: G4375L