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7 bedroom pub for sale

2384. The Royal Oak, Castle Gate, Newark, NG24

£39,950

Property Description

Commercial information

  • Business for sale
  • Use class orders: A4 Drinking Establishments

Key features

  • Outskirts of Newark-on-Trent town centre, Nottinghamshire
  • Small mainly residential market town on the river Trent
  • T/O: 104,000 GP: 58%
  • Established in 1700
  • 2-bedroom managers' flat
  • 5-bedroom owners'/letting accommodation
  • Could reinstate restaurant

Full description

Tenure: Leasehold

Location
The Royal Oak occupies substantial 2-storey premises ideally located on the outskirts of Newark-on-Trent town centre, Nottinghamshire. The premises are surrounded by a variety of complementary shops and businesses and benefit from private parking for owner and residents at the rear. The business is located directly across from the medieval Newark Castle, which lies on the banks of the River Trent and attracts many tourists and visitors to the area. There are regular bus services and the railway station is within easy walking distance. The business boasts easy access to the A1 and A46, and the town centre shops and facilities are just a few minutes away. Newark-on-Trent is a small market town, which grew up around the castle and market place, and posseses many historic buildings. The area is a popular place in which to live and work due to the excellent transport links across the region. Mansfield is approximately 19 miles west, while Nottingham lies approximately 20 miles away.

Business History
Preferred Commercial is delighted to offer for sale this popular public house, which was established in 1700 and has been in our client's careful hands since 2006. The business is only now offered to the market due to our client's wish to retire. The premises are well-equipped to suit the trade with a lounge bar, main bar, central bar servery, dining/function room and commercial kitchen. The business has an excellent reputation and enjoys a loyal customer base. The premises boast a 2-bedroom manager's flat along with 5-bedroom owners' accommodation with spacious lounge, kitchen and bathroom. The public house benefits from being free of tie and has a wet/dry split of 95% to 5%. The business trades all year round and generates a turnover in the region of 104,000 per annum with a gross profit of 58%. We feel this could be further increased by reinstating food as this is currently not available. The 5 owners' bedrooms have been recently refurbished and are now used for letting, as there are no hotels or guest houses in the immediate area. The letting accommodation could be further improved by providing en-suite facilities if required. This is an ideal opportunity to acquire an already popular public house with 2-bedroom manager's flat and 5-bedroom owners'/letting accommodation and huge scope for future development. Early negotiations with Preferred Commercial must come highly recommended.

Financial Details
T/O: 104,000 approx.
GP: 58%

Opening Hours
Mon - Sat: 11:00am to 11:00pm
Sun: 12:00pm to 10:30pm

Accommodation Details
Substantial 2-storey public house premises with 2-bedroom manager's flat and 5-bedroom owners'/letting accommodation. Briefly comprising:

Ground Floor
Lounge bar with tables and chairs for up to 30 covers
Main bar with tables and chairs for up to 30 covers, flat screen TV and electronic games machine
Central bar servery with 18 points of dispense, 2 x refrigerated units, glass washer, electronic cash register, wash hand basin and optics
Dining/function room with tables and chairs for up to 20 covers and serving hatch through to kitchen
Commercial kitchen with hot cupboard, 10-pot Bain Marie, 6-burner gas hob and oven, 2 x microwave ovens, steakhouse grill, refrigerator, dishwasher, meat slicer, double sink unit and stainless steel worktops
Large storage area
Gents WCs with wash hand basins
Ladies WCs with wash hand basins

First Floor
Manager's flat with lounge/kitchen, bathroom, single and double bedrooms
Lounge
Kitchen
2 x double bedrooms (used for letting)
1 x twin bedroom (used for letting)
2 x single bedrooms (used for letting)
Bathroom

External
Rear courtyard
Beer garden
Smoking area

Tenure
Leasehold:
Original length: 20 years
Remaining: 1 year
Review: 5 years
Rent: 27,000 per annum

Lease is free of tie.
A new 15 year lease is available by negotiation.

Energy Performance Certificates (EPCs)

To view this property or request more details, contact:

Preferred Commercial, Nationwide

Lower House Farm Mansell Way, Horwich, Bolton, BL6 6JL

0844 871 1484 Local call rate

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Property reference 2384. 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 Preferred Commercial, Nationwide. 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.