Business for sale

Business description

Quintessential english country drovers inn freehouse with “myriad” period features set within an inspiring locale close to peterborough

An exceptional opportunity to live in an adorable locale and run a rewarding business offered at a realistic asking price of £650,000 (plus vat) freehold to include fixtures and fittings, goodwill plus s.a.v. Free of all ties

*Sound Trading foundation to build on of £400,000 inc vat – 70% Dry to 30% Wet with potential of £ ½ M – £85,000 Recon Net Profits

*Character low beamed cosy Lounge (60+ vertical drinkers) – Restaurant (50) – Terrace Dining (30)

*Comfortable owners apartment

*Special well appointed patio (60) – car parking (40)

*Well established rural location popular with day trippers and countryside enthusiasts

*‘Non Smoking since May 2006’- currently run as a leasehold – with VP (vacant possession )

LOCATION (PE6 0HJ)
This adorable 300 plus year old drovers inn can be described as “quintessentially ye ole england” and is situated in the popular lincolnshire district of south holland which itself is well known for those with an interest in the english countryside and “country pursuits”.

Follow the a47 ne of peterborough or from the a16 onto the a1072 then b1166 and the pub is to be found on the common drove as it meets gravel causeway and welland bank with the river welland running to the far side of the road and dyke (no chance of flooding).

The area is predominantly agricultural with well established old business’s supported by new comers wishing to reside in an exceptional “life style” locale. The area is popular with walkers, birdwatchers, nature enthusiasts, water sport and country pursuits followers making this old in a “magnet” for those seeking good food, drink and a warm welcome in traditional surroundings.

PROPERTY DESCRIPTION
Constructed detached of brick and stone under pitched roofs the property commands an un-missable high profile location at a cross roads set slightly back from the road. Originally built as a drovers inn some 300 years ago it retains its charm and significance within the local community.

Lounge bar (60+ vertical drinkers) has a myriad of interesting features, bric a brac, with a low oak beamed ceiling and is broken down into cosy areas for intimate comfort.

Your eyes will feast on the many items of local interest which have been collected over the decades and centuries.

Restaurant (50) is an airy room with half timber walls and low beams. Terrace dining (30) provides an excellent facility for eating in an informal semi open atmosphere.

Catering kitchen is fitted to a high spec with commercial equipment inc full s/s extraction and s/s units. Beer cellar is to the ground floor and fully chilled.

Toilets, ladies & gents to a good standard are provided within the property.

OWNERS ACCOMMODATION
Located to the first story and comprises of a Double bedroom, generous kitchen cum diner, large Lounge, Bathroom, then on the ground floor an office which could be used as a private lounge or further bedroom. Very flexible.

EXTERNALS
Leading from the Terrace room you will be impressed with the large patio which holds circa 60 on wooden benches providing a most special experience and benefiting from country aspects. Car parking for 40 vehicles is provided off road.

PREMISES LICENSES
We are advised that the business trades on opening hours of Monday 12 noon till 2.30pm then 5pm till 10pm with Tues/Weds/Thurs/Fri/Sat Lunch sessions plus 5pm till 11pm and Sunday All Day. The Premises License allows for trading Mon-Weds 11am till 12 midnight with 2.30am close on Thurs and Fri/Sat 1am close, Sunday sees 11am till midnight.

The tenants live off premises so chose to close to suit their own circumstances and there is tremendous opportunity to increase opening hours if desired. 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 TOTALLY FREEHOLD with VP (vacant possession)

SERVICES
We are advised that the pub benefits from water , electric being connected and with sewage by septic tank and cooking and heating by LPG. Business rates payable are £4,000 pa.

THE BUSINESS
Our client wishes to sell the freehold of the property which is currently operated under a 20 year lease agreement with the “goodwill” of the currant lessees and full vacant possession (VP).

Sales in the lessees accounts to period y/e 30th June 2006 show a robust circa £400,000 inc vat which is a sound foundation to build upon. Sales split is advised as 70% Dry to 30% Wet and returns a Recon Net Profit (after personal and one off expenses also adding back £30,000 rent and retained margin) of £90,000.

The tenants placed the business under management for a period and experienced a certain amount of “slippage” of sales since the last year end but now appreciate that this style of operation is best run by a “hands on” couple and have taken the rains once again.

Without doubt this is a £½ M sales opportunity waiting to happen which would cascade down to a six figure disposable profit return with a new focused and enthusiastic owner.

This is a rare opportunity offering a robust growing business within a special locale – a must for a viewing early

Ref: G4367F