3 bedroom pub for sale

LINCOLNSHIRE

Sold STC £249,950

Property Description

Full description

Tenure: Freehold

REF:7791 FREEHOLD

Prime roadside location on the southern edge of the Lincolnshire Wolds set back from the main A16 close to Spilsby and the historic market town of Horncastle.

Open plan Lounge/Dining Area (circa 30+ covers) presented in excellent condition with an open coal fire and lovely feature log burner at either end.

Conservatory Restaurant (circa 30 covers) with exposed brickwork and beautiful garden views.

Spacious well-equipped Commercial Catering Kitchen.

Impressive 3 Bedroom Owner's Accommodation with private access and private garden area.

This business re-opened on 7 October 2016 following a tasteful internal refurbishment. Prior to this sales showed an annual turnover of circa 180,000 (incl. VAT) having traded on reduced hours (lifestyle choice) with a trade split 70% Food and 30% Wet sales.

Desirable brand new 'Totally Free of Tie' Private lease or Freehold.



A FABULOUS OPPORTUNITY TO ACQUIRE A NEW 'FREE OF TIE LEASE' OR FREEHOLD INN WITHIN A BEAUTIFUL SOUGHT AFTER VILLAGE LOCATION

LOCATION

This delightful unopposed inn is situated close to the southern edge of the Lincolnshire Wolds in the lovely sought after village of Keal Cotes. The property is set back from the main well used A16 that runs between the market town of Spilsby (5 miles) and the small port town of Boston (12 miles). The inn is highly popular and experiences good levels of repeat trade emanating from the surrounding and affluent catchment areas, passing tourist trade, walkers and ramblers & the nearby East Kirkby Aviation Centre. Other nearby points of interest include the popular and well known East coast holiday resort of Skegness (17 miles) & the bustling market town of Horncastle (11 miles). The historic Cathedral City of Lincoln is within easy reach and is only a pleasant short drive away.

THE PROPERTY

Occupying a prominent main road location this delightful inn is an attractive and very well presented property. A substantial detached 2-storey, fully rendered brick built structure sits under a pitched, slate roof and is double glazed throughout. Entrances to the front and side provide access to the recently refurbished trading areas. These consist of:

Lounge/Dining area (circa 30+ covers plus standing) is a good-sized open plan area with a warm and welcoming atmosphere. The room is fully carpeted with loose tables and comfortable leather and upholstered dining chairs. There is well presented long return bar server of brick construction with a marble top and 2 cask ales on offer. To one end of the room is an open coal fire whilst to the other is an attractive feature log burner. This area leads through to:

Conservatory Restaurant (circa 30 covers) is a spacious, bright and airy room with an attractive exposed rear brick wall. The room is fully carpeted with loose tables & leather upholstered dining chairs able to be laid out as required to suit the occasion. The Conservatory Restaurant overlooks the beautiful lawned garden area to the side of the property with its lovely shrubbery borders and has access leading out to this area. The room has central heating & a rotary ceiling fan above providing temperature control.

Ladies and Gents W.C's.

Catering facilities include a spacious well-equipped commercial catering Kitchen with stainless steel appliances and preparation surfaces (appliances not tested). Access to private enclosed yard.

Ground Floor Cellar with python, remote etc.

OWNER'S ACCOMMODATION

The owner's accommodation is situated on the first floor and briefly comprises: 2 double & 1 single bedroom/office, lounge, bathroom & toilet. The accommodation has private access and a private yard to the rear of the property with further storage areas available.

EXTERNAL

To the side of the property is a lovely enclosed grassed garden area with wooden tables, picnic benches and seating providing a further circa 20+ Al Fresco dining covers in the summer months. To the front of the property is a car park providing circa 20 parking spaces.

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- Thurs 12noon to 11pm
Fri-Sat 12noon to midnight
Sun 12noon to 10.30pm

Current opening hours are:
Mon & Thurs 12 noon to 3pm
6pm to 10pm
Tues/Weds CLOSED
Fri-Sat 12 noon to 3pm
6pm to 11pm
Sun 12 noon to 8pm

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 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 25,000.
2. The initial annual rent will be 16,000
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 2-year period.
6. Free of all brewery and supply ties.
7. Each party responsible for own legal costs relating to the transaction.
8. Option to purchase the freehold within an agreed timescale (normally 3 years) if desired.

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 all available mains services are connected with Calor gas provided for cooking and heating purposes (no services tested). Business rates payable are advised as being circa 1,883 per annum inclusive of all relevant reliefs.

THE BUSINESS

Our vendor clients purchased this Freehold business in 2005 and apart from leasing the property out for a period of time they have operated the inn themselves. Over the past 11 years the business has established itself with a very solid and food led trading foundation to a loyal, repeat and desirable clientele. The business has an excellent reputation as a quality food led venue offering high quality food, drinks & functions in superb comfortable surroundings. After many successful years in the trade our vendor clients have decided to sell this wonderful property and business in order to take life at a more leisurely pace. The property offers new and enthusiastic operator's considerable potential to put their own stamp on it. We are advised that previous annual takings were circa 180,000 (incl. VAT) on a trade split of 70% Food and 30% Wet sales. New owners could take the business to the next level by exploiting the potential of all day opening hours whilst introducing ideas from their business plan.
Due to the property having been leased there is limited accounting information for this business. This 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 station

  • Thorpe Culvert (6.6 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 station

  • Thorpe Culvert (6.6 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 7791F. 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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