3 bedroom pub for sale

SHROPSHIRE

£95,000

Property Description

Commercial information

  • Business for sale

Key features

  • Prominent main road location surrounded by quality private housing, shops and offices.
  • Traditional Lounge/Public Bar (circa 40-50) with solid wood floors, bar servery & open fireplace.
  • Restaurant (circa 40) - split on two levels and has wood floors, beams & feature exotic fish tank
  • Secluded wooden decked Terrace Area (circa 40), front Seating Area (circa 20) and Large Car Park.
  • Extensive 3 Bedroom Flat.
  • Advised T/O for y/e 03/12 circa £400,000 (inc vat) - split 70% wet; 30% dry.
  • Recon net profit of £50-60,000.
  • 10 yrs left on a renewable lease with a rent of £33k per annum.

Full description

Tenure: Leasehold

REF: 6954.


A THRIVING AND PROFITABLE BUSINESS WITH CONSISTENT TURNOVER AND ESTABLISHED TRADE

LOCATION
This traditional and thriving Inn is located on Abbey Foregate, Shrewsbury. The business sits on one of the main entry roads into the town in an elevated position close to the Abbey. The premises, which are reputed to date back to 1084, are mainly of Tudor origin, being the original hostelry constructed to accommodate the stonemasons who built the nearby Abbey.
Shrewsbury is the county town of Shropshire and is a highly successful market and tourist town standing astride the River Severn at the junction of the A5 and A49 roads which give easy access to the M54 motorway to the Midlands. Birmingham and Wolverhampton are within easy motoring distance as are the centres of Chester, Merseyside and North Wales.

THE PROPERTY
This part Grade I and part Grade II inn is of stone construction, under a pitched, tiled roof, occupying an excellent central position in the heart of this desirable town and surrounded by housing, shops and offices.

The Lounge Bar/Public Bar (circa 40-50) is full of character features including a wonderful open fireplace, substantial bar server, solid wood flooring, wood panelling and beamed ceilings.

The Restaurant (circa 40) is located to the rear of the building and is split on two levels. The area offers wood floors, part panelled walls, beamed ceilings and a feature exotic fish tank.

The Lower Ground Floor Cellar benefits from coolers, python system and beer drop along with a lockable bottle store.

Ladies and Gents W.C.’s.

There is a commercial catering kitchen with stainless steel appliances and work surfaces (appliances not tested).

OWNER’S ACCOMMODATION
The owner’s accommodation is situated on the 1st floor and briefly comprises: 3 Double Bedrooms, Lounge and Bathroom. There are a further 3 Double Rooms on the 2nd floor.

EXTERNAL
To the side of the property is a recently added Wooden Decked Terrace Area offering seating for 40 customers. Furthermore, to the front of the property is seating for 20.
To the rear is a large car park for 25 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:
Sun - Thursday 10am – Midnight
Fri-Sat 10am – 1am

Current opening hours are:
7 days per week 10am – 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 lease assignment with approximately 10 years remaining of the Innspired full repairing and insuring, renewable agreement. We are advised that the business is free of tie for wines, spirits and soft drinks and offers a £99 discount on all barrels.
We are informed that the rent is currently £33k with the next rent review due in 2016. 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. (no services seen or tested). Business rates are advised as currently being circa £13,000 per annum payable.

THE BUSINESS
The current owner has enjoyed a lengthy career in the trade running this profitable establishment for 10 years and another Inn on the same street for a further 10, it is now time for retirement and offers this highly profitable business in good condition. This well established business has been voted ‘Innspired Pub of the Year’ and ‘Northern Foods Establishment of the Year’ since our vendor has acquired the property.
We are advised the turnover for year ending 03/12 is circa £400,000 (inc vat) on a trade split of 70% wet and 30% dry, offering a recon net profit of £50-60,000. The business achieves gross profit margins of 58% on food and 52% on wet.

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: 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.



Nearest station

  • Shrewsbury (0.5 mi)
Distances are straight line measurements from centre of postcode

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

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 station

  • Shrewsbury (0.5 mi)
Distances are straight line measurements from centre of postcode

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

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 6954. 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.

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