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2 bedroom pub for sale

POTTERHANWORTH LINCOLNSHIRE REF: 6872 FREEHOLD

£549,950

Property Description

Commercial information

  • Business for sale

Key features

  • Lovely affluent highly sought after Lincolnshire location situated in the village of Potterhanworth.
  • Characterful Restaurant (circa 26) with central open exposed brick fireplace & beamed ceiling.
  • Lounge Bar (circa 60) refurbished & extended to an exceptionally high standard.
  • Newly built Function Room (100 occupancy) with separate entrance & fully acoustically sound.
  • 2 double bedroom living accommodation.
  • Wonderful patio/terrace area with further seating for 'al-fresco' dining.
  • Advised turnover for y/e December 2011 circa £300,000 (incl. VAT).
  • Trade split of 54% food & 46% wet. Currently closed due to ill health.
  • Desirable 'Free of Tie lease' or Freehold.

Full description

Tenure: Freehold

LOCATION
This wonderfully presented unopposed village Inn and Restaurant is located in the affluent & highly sought after Lincolnshire village of Potterhanworth, approximately 6 miles South East of Lincoln. Potterhanworth has a primary school situated in the centre of the village and St Andrew’s Church and the Memorial Hall. It benefits from good sporting and recreational facilities by having a large Parish Council maintained playing field and a modern sports pavilion. A refurbished and modern play park and a small skateboard park are very popular. Potterhanworth has two small village greens. On one there proudly stands a brilliantly coloured village sign and on the other the war memorial. Local to the area is Tattershall Castle (11 miles), Lincoln Cathedral (6 miles) & Market Rasen racecourse is only 14 miles away.

THE PROPERTY
This beautifully presented freehold village inn is of brick construction, under a pitched, slate roof, occupying an excellent village location in Potterhanworth but only 20 minutes from Lincoln city centre.

A small entrance porch to the front leads to the restaurant and lounge/bar areas.

The Restaurant (circa 26 covers) is a stunning room full of character and offers a lovely dining experience with a warm and friendly feel. The room benefits from a large central open exposed brick fireplace, beamed ceilings, wooden bar server, loose tables & chairs & is fully carpeted.

The Lounge Bar (circa 60) is a wonderful fully refurbished & extended open plan room that leads out onto the rear slabbed patio area. Loose tables & chairs, high leather stools & leather armchairs are complimented by beamed ceilings, a feature exposed brick fireplace & wall and ceiling chandeliers. This room is fully carpeted and there is a bar server of wooden construction with 3 cask ale hand pulls.

The newly built Function Room (100 occupancy) has its own private entrance and is fully acoustically sound. This room is fully carpeted & has a wooden dance floor. There is a bar of wooden construction with 3 cask ale hand pulls & a purpose built wooden DJ/Entertainment booth. Loose tables & chairs enable this room to be set out for functions, meetings & events.

Ladies, Gents & disabled (with baby change facilities) W.C.’s.

There is a very well equipped commercial catering kitchen with stainless steel appliances (not tested) and work surfaces along with a push through wash up area & walk in fridge.

The Ground Floor Beer Cellar has coolers and a python system.

CCTV both inside & outside.

OWNER’S ACCOMMODATION
The owner’s accommodation is situated on the 1st floor and briefly comprises: 2 double bedrooms, new utility room, lounge, kitchenette and bathroom. On the 2nd floor there is an attic room/office.

EXTERNAL
To the rear of the property is a recently refurbished slabbed patio area with disabled ramp access. This area can be used for ‘al fresco’ drinking or dining. There is a lined floodlit car park for circa 16 cars.

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:
Mon- Sat 10am to midnight
Sunday 11am to midnight
Current opening hours are:

This business is currently closed

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

GENERAL REMARKS
The property and business is being offered for sale freehold (although we have not had sight of the title deeds) or as a new highly favourable 10 year Private FRI Lease Agreement as follows:
1. The asking premium will be £64,950.
2. The initial annual rent will be £40,000
3. The annual rental is simply RPI linked to inflation every 3 years, hence no rent reviews
4. Rent payable quarterly in advance.
5. Lease re-assignable after initial 3 year period.
6. Free of all brewery and supply ties.
7. Each party responsible for own legal costs relating to the transaction.

We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium – subject to the provision of the Landlord & Tenant Act 1954.
We are advised that the inn benefits from all mains services including new 3 phase electrics & uses calor gas throughout (services not tested).
Business rates payable are advised as being circa £6500 per annum.

THE BUSINESS
The current owners purchased the business in 2007 as a family concern and are offering the property in immaculate refurbished and extended condition. The property has been totally refurbished to an excellent standard with the total trading area doubling in size. This created a new function room, restaurant, an extension to the lounge/bar & a new commercial catering kitchen. We are advised that 3 phase electrics (not tested) & double glazed windows were included in the scheme. Due to ill health the owners reluctantly had to close the business in January 2012. This property offers an excellent opportunity for either a freeholder or leaseholder to re-build the business back to its former glory.
We are advised that historical turnover figures show annual takings in excess of circa £400,000. Declared annualised turnover for y/e December 2011 was approx £300,000 (inc vat) with a trade split of 54% food & 46% Wet sales.
Accounting information will be made available to interested parties after viewing.

This business was viewed by Richard Fletcher who would be delighted to discuss further details and can be contacted on 07527 718400.

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.


Energy Performance Certificates (EPCs)

To view this property or request more details, contact:

Guy Simmonds, National Licensed Property Agents

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448091 Local call rate

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Disclaimer

Property reference 6872F. 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.