8 bedroom pub for sale

KENT

£749,950

Property Description

Commercial information

  • Business for sale

Key features

  • Delightful seafront location within a stone's throw of the popular Folkestone harbour area
  • Well presented open plan bar area with a capacity of 150 with lovely bar servery
  • Paved area with sea views and seating for 25, along with an awning for a smoking area
  • 1st floor function room (circa 60) currently used as a high class 3 bed apartment with lovely views
  • 2 further 2/3 bedroom apartments occupying the 2nd and 3rd floors in superb decorative order
  • Current sales are an excellent £550,000 (incl. VAT) - 100% wet, offering a recon net profit of £125k
  • Superb reputation with an already well established trading foundation

Full description

Tenure: Freehold

REF: 5860.

LOCATION
This delightful regency style property lies on Harbour Street, Folkestone within 50 yards of the operational harbour.
Folkestone is an historic coastal town in the Shepway district of Kent. A resort with sandy beaches, colourful gardens and a population of 50,000. Elegance and tradition, wide leafy avenues and cinnamon brick buildings, period architecture, cobbled high street, working harbour, a wide sweeping promenade with outstanding views are just a few benefits of this lovely town.
Folkestone harbour will become the focal point for a major redevelopment of the seafront in the next few years giving this already thriving area a huge boost.
The travel links are very good with the M2 motorway offering good access to London and the Eurotunnel offering an opportunity to get to Calais in 35 minutes.

THE PROPERTY
This substantial regency style 4 storey harbour front property sits under a pitched, tiled roof occupying a prominent and enviable corner location on the seafront.

1 Main entrance at the front of the property leads into the main open plan bar area. There is also a separate entrance for the 3 apartments.

Open Plan ‘L’ shaped Lounge Bar (capacity 150) is a very good sized room offering seating for approximately 60. This bar area benefits from a large bar servery area along with carpeted flooring, leather sofas, plasma TV’s, large projector screen, various games machines and access to the W.C’s.

1st floor function room (circa 60) is currently being used as a large lounge for the 1st floor apartment, yet could be easily utilised as a further trading area with wonderful views over the harbour.


Ladies and Gents W.C’s.

Huge Lower Ground Floor Cellar with barrel drop, barrel racks, pumps and cooler. Dry Bottle Store.

OWNER’S/LETTING ACCOMMODATION
Situated on the first, second and third floors and briefly comprises: 1st floor – 3 bed apartment with fitted kitchen, large lounge and bathroom.
2nd floor – 3 bed apartment with fitted kitchen, large lounge and bathroom.
3rd floor – 2 bed apartment with fitted kitchen/diner, large lounge, roof terrace and bathroom.
All 3 apartments have recently been refurbished to a very high standard and offer stunning sea views over the harbour.

EXTERNAL
Seating for approximately 20 and an awning offering an area for smoking.

TRADING & LICENSING
We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:

Sun – Thurs 10am – Midnight
Fri – Sat 10am – 2am

Current opening hours are:

Sun – Thurs Midday – Midnight
Fri – Sat Midday – 2am

N.B. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the NCPLH Qualification in readiness for their intended operation of the Public House. Guy Simmonds hold this 1-day NCPLH Course every 2 weeks. Please telephone us to reserve your place or book on-line at www.guysimmonds.co.uk

GENERAL REMARKS
The business and property is being offered for sale freehold (although we have not seen sight of the title deeds).
We are advised that the inn benefits from all mains services and uses gas central heating (services not tested). Business rates are advised as currently being £5,500 per annum.

THE BUSINESS
Our client took over the business in 1998 and have developed a very strong trading foundation over the last 9 years.
This very successful business is being offered as a highly profitable concern and also benefitting from rising yearly figures. This business has become an integral part of the towns nightlife and is an extremely popular venue.
This is a successful and profitable business and already having a solid trading foundation still offers new enthusiastic owner operators considerable potential to increase the sales. Current sales are circa £485,000 (incl.) with reconstituted net profits (after adding back finance, bank charges, depreciation and managers wages) of £125,000.
In our opinion there is still further potential to increase the bar sales and would expect new fully focussed enthusiastic full time owner operators to achieve an annual turnover in excess of 500,000. Our vendor client has established an excellent reputation which can be fully emulated by new enthusiastic operators. The asking price reflects the location and quality of fixtures and fittings.

Accounting information will be made available to interested parties after viewing.

This business was viewed by Marc Blackford who would be delighted to discuss further details and can be contacted on 07812 753014.
Viewing appointments must be made by contacting Guy Simmonds .

VIEWING: All appointments must be made through Guy Simmonds. Please note that these Sales Particulars are issued on the strict basis that all negotiations, viewings and contacts in connection with this business are conducted through Guy Simmonds who are appointed by the vendor to act under a Sole Selling Rights agreement with total confidentiality. Any breach of these terms may make you liable in law to litigation and damages. Under no circumstances must you approach the owner direct without a formal appointment or disclose to other customers and staff that the Premises are for sale.

TRAINING: For a brochure and dates of our award-winning training courses leading to the relevant B.I.I, qualifications (and APLH). Telephone (01332) 865112 or view on www.guysimmonds.co.uk Courses are monthly.

FINANCE FOR PURCHASING A LICENSED PROPERTY: We are in constant touch with a leading finance broker who specialises in arranging Business Finance for Licensed Properties. Whether you are purchasing a Licensed Property through ourselves, or another agent, we will be pleased to contact on your behalf our specialist who can arrange the necessary Finance Package for you at preferential rates. Please telephone for free and no obligation advice with regards to financing a Business.

Guy Simmonds for themselves and for the vendors or lessors of this property and/or business whose agents they are give notice that:-
(I) These particulars are a general outline for the guidance of intending purchasers (or lessees) and do not constitute an offer or contract, nor any part of an offer or contract.
(II) All descriptions, dimensions, distances, maps/plans, references to condition, trading figures and other items in these particulars are given as a guide and no responsibility is assumed by Guy Simmonds for the accuracy of individual items. Intending purchasers (or lessees) should not rely on them as statements of representations of fact and should satisfy themselves as to the correctness of each item by making independent enquiries.
(III) Intending purchasers (or lessees) should make their own independent enquiries regarding the use of the property, necessary permissions for use and occupations, potential uses and any other matters affecting the property prior to purchase.
(IV) Guy Simmonds do not make or give whether in these particulars, during negotiations or otherwise, any representation or warranty in relation to this property. No responsibility is taken by Guy Simmonds for any error, omission or mis-statement in these particulars. Guy Simmonds do not warrant the accuracy of any accountancy information supplied and purchasers are advised to take independent advice in order to satisfy themselves.
(V) Guy Simmonds are unable to give any warranty as to the working order of any apparatus, equipment, fittings or services associated with the premises and therefore, cannot verify they are in full working order. Purchasers are strongly advised to obtain specialist reports prior to exchange of contracts in order to satisfy themselves.
(VI) All statements and descriptions are made without responsibility or warranty by Guy Simmonds, the vendors or lessees. Neither do Guy Simmonds nor the vendors/lessees hold ourselves responsible for any expenses whatsoever incurred by applicants inspecting Businesses which may be sold or withdrawn, to include travelling, valuation/survey, legal fees etc.
(VII) No person in the employment of Guy Simmonds has any authority to make or give any representation or warranty whatever in relation to this property.
(VIII) It should not be assumed that the contents of any photographs are included in the sale.


Nearest stations

  • Folkestone Central (0.7 mi)
  • Folkestone West (1.4 mi)
  • Channel Tunnel Terminal (2.7 mi)
Distances are straight line measurements

To view this property or request more details, contact:

Guy Simmonds, National Licensed Property Agents

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 903061 Local call rate

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Disclaimer

Property reference 5860. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Guy Simmonds, National Licensed Property Agents. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.