3 bedroom pub for sale

NOTTINGHAMSHIRE

Sold STC £56,000

Property Description

Full description

Tenure: Leasehold

REF:7889 LEASEHOLD



TRADITIONAL ICONIC 'FREE OF TIE' INN AVAILABLE FOR THE FIRST TIME IN OVER 28 YEARS LOCATED IN THE HIGHLY AFFLUENT PICTURESQUE NOTTINGHAMSHIRE CONSERVATION VILLAGE OF LAMBLEY



Idyllic picturesque conservation village close to Woodthorpe, Burton Joyce & the river Trent & surrounded by other affluent and desirable villages.

Bar (circa 34+) with exposed wooden ceiling beams, exposed brickwork and an open coal fire.

Lounge/Dining (30 covers) with exposed wooden ceiling beams, exposed brickwork & coal fire.

Below Ground floor 'former Steak Bar' (c30 covers) with equipped kitchen area (currently unused).

Attractive block paved Al Fresco patio area with heaters and a retractable awning : Patron's car park.

Well-equipped commercial catering kitchen.

3 Bedroom owner's accommodation.

Advised current 'Wet' sales circa 313,252 (incl. Vat) to year end April 2016. Additional Food takings (currently franchised out) estimated at circa 65,000 (inc Vat). Total sales 83% Wet : 17% Food sales.

New highly desirable 'Privately owned' 10 year 'totally Free of Tie' renewable Lease.



A VERY RARE OPPORTUNITY FOR A NEW OPERATOR TO PURCHASE A BRAND NEW TOTALLY 'FREE OF TIE' PRIVATELY OWNED LEASE.




LOCATION

This thriving business is located in the highly affluent picturesque Nottinghamshire village of Lambley. The village is surrounded by green belt countryside, garden centres, popular golf courses and other highly affluent villages to include Burton Joyce, Lowdham, Woodthorpe and Oxton. Lambley itself sits in a conservation area and has a sought after Primary school with an excellent academic record, a garage and a church however local shops and facilities are all within only a few minutes' drive. The famous city of Nottingham is only 6 miles away and other nearby points of interest include the ancient market town of Newark, Centre Parcs holiday village and the minster town of Southwell all close by. The local motorway networks are excellent with the M1 and A1 both within easy reach.

THE PROPERTY

Occupying a landmark position within the village this well presented characterful property is of brick built construction sitting under a pitched slate roof.
An attractive quarry tiled entrance porch to the front of the property with the old 'off sales' window still visible provides access to all the trading areas. These consist of:
Bar (circa 34+ plus standing) is an attractive room full of warmth and character and has a lovely welcoming atmosphere. Loose tables and stools are complimented by upholstered perimeter bench seating all sitting on a laminate wood effect floor. Wooden ceiling beams look down on exposed brick walls with historic village photographs and a lovely exposed brick built open coal fire. There is a well-presented bar server of wooden construction offering 4 cask ales and a darts throw to one end.
Lounge/Dining (circa 30 covers) is a highly attractive room that is full of rustic charm and has a calm and relaxing atmosphere. Historic village photographs adorn the walls and loose tables, chairs and upholstered perimeter bench seating all sit on a fully carpeted floor. Exposed brickwork, a central exposed brick built pillar and wooden ceiling beams add to the character of this room and there is also an exposed brick built fireplace with built in coal effect gas fire. To one end is a further well-presented bar server of wooden construction offering 4 cask ales and a coffee station sits to one side.
Former Steak Bar (circa 30 covers) is located below ground and was up until recently a highly popular venue for many years past. The room is fully carpeted with minimal quarry tiled floor and exposed brick walls. This room is currently used as a photography studio however with a small partially equipped kitchen area and canopy still in place could quite easily be converted back and used for dining if desired.
Ladies and Gents W. C's.
There is a well-equipped commercial catering Kitchen with stainless steel appliances and preparation surfaces (appliances not tested) and 5* EHO rating.
Spacious below Ground Floor Cellar with python, remote and pumps etc and several storage room areas.

OWNER'S ACCOMMODATION

The owner's accommodation is situated on the 1st floor and briefly consists of: 3 Bedrooms (2 Double / 1 Single), lounge, kitchen and bathroom with separate WC.

EXTERNAL

To the side of the property is a lovely part elevated block paved al fresco patio area (circa 30 covers) with wooden picnic benches and tables and chairs. There is also a retractable awning for those more than hot days. For the cooler climate, there are wall heaters to the side wall and the area is set amongst colourful planters, troughs and baskets. Also to the side is the patron's lined car park with parking for circa 10 cars however parking is readily available throughout the village. CCTV.

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 - Sun 12noon to 1am

Current opening hours are:
Mon - Sun 12noon to midnight

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.

GENERAL REMARKS

The business is offered for sale as a new highly favourable 10 year privately owned FRI Lease Agreement.
1. The asking premium will be 56,000.
2. The initial annual rent will be 33,000.
3. The annual rental is simply RPI linked to inflation every 3 years, hence no market rent reviews.
4. Rent payable quarterly in advance.
5. Lease re-assignable after initial 2-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 (services not tested). Business rates payable are advised as currently being circa 14,000 per annum.

THE BUSINESS

The current owners purchased the freehold business back in 1989 and have since established a highly popular, solid trading foundation offering quality drinks and home cooked food to a loyal, repeat and desirable clientele. The business is currently operated by the owners assisted by circa 5-part time members of staff. Our vendor clients are now looking to lease the property on a totally 'free of tie' basis in order to finally be able to take life at a more leisurely pace. The business sits at the centre of the local community and is an iconic well-known popular haunt in the village. The business plays host to a weekly quiz, meat raffle, themed food events and provides occasional live entertainment. We are advised that 'wet' turnover was circa 313,252 (incl. vat) to April 2016. Additional Food takings are estimated at circa 65,000 per annum (inc VAT). The food offer is currently franchised out by our vendor clients with a returning rental income of 12,000 per annum on this basis. Total income if the food were not franchised would be 378,252 (inc VAT) with a trade split is 83% Wet & 17% Dry sales. New operators could continue to run the business using the same successful formula or may wish to take the business to the next level by resurrecting the former steak bar restaurant running alongside other ideas from their business plan. This business would ideally suit an enthusiastic operator with experience in a similar hospitality environment.

Accounting information for this business 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.

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.
(IX) All prices quoted are excluding stock at valuation.




Energy Performance Certificates (EPCs)

Nearest stations

  • Burton Joyce (1.6 mi)
  • Lowdham (2.6 mi)
  • Carlton (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds Business Transfers Limited , National Licensed Property

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448136 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Burton Joyce (1.6 mi)
  • Lowdham (2.6 mi)
  • Carlton (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds Business Transfers Limited , National Licensed Property

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448136 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 7889. 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 Business Transfers Limited , National Licensed Property. 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.

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