Business for sale

Business description

Character well presented 1600’s traditional country village coaching inn located unopposed in affluent rural north warwickshire village close to medieval ashby de la zouch & historic market bosworth

This is a truly exceptional rare opportunity to work and live in a most pleasing location offered at a realistic asking price of £139,000 lease assignment to include extensive fixtures and fittings, goodwill plus s.a.v.

*Strong Trading foundation to build on of £404,471 inc vat – 75% Wet to 25% Dry with unbridled opportunity to develop food offer (currently operated under management)

*Character Locals Bar (26+), Beamed Lounge bar with open fire (50+), popular cosy snug (10+), separate airy dining room (20)

*Owners comfortable 3 bed roomed accommodation

*Delightful beer gardens and patio (150), car park 30

*Sought after village with quality housing – close M42 & A444

*21 year Landlord & Tenant Act protected lease from “05” renewable at its end for a further 21 years anon at no further cost and no less favourable terms

LOCATION (CV9 3EG)
The village of austrey lies within north warwickshire adjacent its borders with leicestershire close to such “honey pots” as market bosworth with its historic battlefield , ashby de la zouch and “ivanhoe” castle, twycross with the world famous zoo, and sought after traditional residential villages such as sheepy magna, newton regis, norton juxa anon.

The village has a cross selection of housing ranging through different historic periods of england history up to modern quality new builds. Set under the spire of a 13th century church and with an old cross to its frontage, the inn is the starting place of the “austrey walk”.

This popular and affluent village is well located for the m42/m1/m6/m40 and is just 30 minutes from the international airports of birmingham and nottingham east midlands. The inn is located on main road in front of the church, you cannot miss it.

PROPERTY DESCRIPTION
An imposing property commanding a large “footprint” with a long frontage to the village “cross”. Constructed in the 1600’s of staffordshire brick under a thatched roof which was totally renovated 4 years ago, it is completely detached.

Internally it is a historic delight with all that you would expect from this quality of olde english pubs with many retained original period features to delight customers. Locals bar (26+ vertical drinkers), a fine room with herring bone brick open fire, a popular haunt for the village locals, lounge bar a myriad of period features, sumptuous yet traditional “country pub”, snug (10+) off the main trading area and well used, dining room (20 covers) and bright room with traditional charm.

All heavy beamed with low ceilings and quality furnishings. Catering kitchen, exceptionally well equipped and totally up to date. Beer cellar, to ground floor for ease of use, well presented and fully chilled. Central bar servery, with real ale wickets and excellent merchandising opportunities. Ladies gents & disabled toilets.

OWNERS ACCOMMODATION
Located to the first floor with a private entrance and comprises of 3 good bedrooms, Family Bathroom, Lounge and fully fitted kitchen.

EXTERNALS
The front entrance has a smashing old stone cross and to the pubs front curtilage there are sets of timber picnic benches. Car park to the side with spaces for 30+ vehicles. The beer garden (150+) is a delight being set under the spire of the ancient village church and a further patio with modern furniture available for eating or drinking “al fresco”. Smokers are well catered for. The externals truly are a “jewel in the crown” of this old inn which oozes with character and charm.

PREMISES LICENSES
We are advised that the business trades on actual opening of 12 noon till 3pm then 5pm till 11pm all week except Sunday which sees a 10.30pm closure. The Premises license allows for 11am till 11pm all week with Friday & Saturday 12 midnight.

This allows plenty of scope to develop trade well beyond its existing levels if so 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 a leasehold assignment of a 21 year landlord and tenant act protected (fully renewable at no further cost for another 21year period “anon” at its end under no less favourable terms) from UNION PUB COMPANY (now MARSTONS). The fully assignable lease runs from 2005 and has a current business rent of £46,000 pa.

SERVICES
We are advised that the pub benefits from mains electric, water, sewage and GAS Central Heating. Business rates payable are £5,000pa.

THE BUSINESS
Trading accounts to November 2006 show sales of £404,471 inc vat on a split of 75% Wet to 35% Dry showing a GP of circa 46%, operated under management. With further focus on buying and margins it would be reasonable to expect above 58% GP from this style of operation which would cascade down to the bottom line along with management salary “add back” to profits of around £70,000 having lived free in a most special pub and within a most desirable village locale.

The development of the food opportunity should also add a further £50,000 to the sales line and £25,000 to the net profit making this an outstanding business with a 6 figure potential profit line.

The options and potential of this business are practically limitless and should be viewed at an early opportunity to gauge its full strengh

Ref: G4323L