4 bedroom pub for sale

LINCOLNSHIRE

£98,500

Property Description

Full description

Tenure: Leasehold

Ref 7825 LEASEHOLD

THRIVING AND HIGHLY PROFITABLE TRADITIONAL ALEHOUSE INN LOCATED IN THE IDYLLIC AND HISTORIC LINCOLNSHIRE MARKET TOWN OF STAMFORD CLOSE TO RUTLAND WATER


Historic conservation market town sitting between Oakham and Peterborough, close to the A1 and only a short picturesque drive from Rutland water.

Main Bar (circa 30+) with exposed brick built fireplace and 7 cask ales on offer.

Snug (circa 16+) with exposed stone walling.

Pool area (circa 20+) with games facilities and 2 wall mounted HDTV's.

Long galley commercial catering kitchen.

Hard standing Patio drinking area to the front (circa 70+) : Patrons' car park.

4 double bedroom (1 en-suite) owners' accommodation ; Opportunity for B&B (STPP).

Advised turnover circa 538,400 (incl. VAT) to March 2016 with excellent net profits.

Trade - Wet 90% : Dry 10%.

Partially tied renewable lease with highly attractive rent (only 5.3% of net turnover) and off invoice discounts.

AN EXCELLENT OPPORTUNITY TO ACQUIRE A THRIVING & PROFITABLE ESTABLISHED BUSINESS OFFERING FURTHER UNTAPPED OPPORTUNITIES


LOCATION
This thriving profitable business is located in the mature historic Lincolnshire town of Stamford sitting close to the border of Rutland, the smallest county in the UK. Stamford is a popular highly regarded picturesque market town within the South Kesteven district of the county and has an outstanding reputation as being an excellent catchment area for schools. Situated on the east side of the A1 and located on the picturesque River Welland Stamford has been voted the best preserved town in the UK and is known to have been visited by fugitive King Charles I in the 17th Century. The town has a population of circa 21,800 and is best known for its medieval core of 17th-18th century stone buildings, older timber framed buildings and five medieval parish churches. Local places of interest include Burghley House where the famous horse trials are held, the 13th Century All Saints church, Stamford arts center and museum and the beautiful, popular and famous Rutland water nature reserve is only a short drive away. The property is situated only a few miles from the A1 with the A43 and A47 close by providing easy access to Peterborough, Market Harborough, Melton Mowbray & Grantham.

THE PROPERTY
This popular 3-storey alehouse inn is of stone and brick construction sitting under a pitched slate roof occupying a prominent position in the town. Entrances to the front and side of the property provide access to the open plan trading areas. These consist of:

Main Bar area (circa 30+ plus standing) is a welcoming room with a laminate wood floor and loose tables, chairs, stools and leather upholstered perimeter bench seating. There is a well-stocked return bar server of wood construction with 7 cask ales on offer. This area also has a darts throw, a wall mounted HDTV and an exposed brick built fireplace to one end.
Snug (circa 16+ plus standing) leads off from the main bar and is fully carpeted with loose tables and chairs. An area of exposed stone walling is complimented by an exposed stone built fireplace and there is a wall mounted HDTV.
Pool area (circa 20+ plus standing). This area leads off from the other end of the bar and has loose tables and stools with minimal leather upholstered perimeter bench seating and a fully carpeted floor. There is a highly popular central pool table, 2 HDTV's, an AWP, and an eye catching array of cask ale pump clips.

Ladies, Gents W.C.'s

Below ground floor beer cellar with python, remote, pumps and cask racking system.

There is a fully equipped galley style Commercial Catering Kitchen with stainless steel appliances and surfaces (appliances not tested). Prep, wash up, dry goods and fridge/freezer storage areas lead off.

OWNER'S ACCOMMODATION
The owner's accommodation is situated on the 1st and 2nd floors. This briefly consists of: 4 double bedrooms (1 en-suite), Lounge, Dining Room, kitchen. Office and 2 bathrooms. There is private access and a small private yard area, The size and layout of the accommodation make it suitable for the introduction of a B&B offer (STPP) of which PP was previously granted but not pursued.

EXTERNAL
To the front of the property is a hard standing patio area with wooden picnic benches (circa 70+) sitting under a large garden parasol and is a highly popular place to sit and watch the world go by. To either side of the property is the patron's car park providing space for circa 12+ cars however plenty of on street parking is readily available in the surrounding areas.

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 11am to midnight
Sunday 12noon to 10.30pm

Current opening hours are:

Mon- Sat 11am to midnight
Sunday 12noon to 10.30pm

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 9 years remaining
of the Admiral Taverns full repairing and insuring, renewable agreement. We are advised that the inn is free of tie for wines, spirits and minerals and also attracts off invoice discounts. We are informed that the highly attractive rent is currently 24,168 per annum (only 5.3% of net turnover) and is not to be reviewed until 2020. 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 mains services (no services seen or tested) and has a solar powered electricity system installed. Business rates payable are advised as currently being circa 5,500 per annum.

THE BUSINESS
The current owners have run the business since 2006 and have since established a thriving highly profitable business offering a rotating selection of quality cask ales, drinks and food to a loyal, repeat and desirable clientele. They are now looking to sell the business on in order to concentrate on their other business interests. Currently operated by the owners themselves assisted by 1 Full time and circa 13-part time/casual members of staff this business really is at the centre of the local community. There are 13 separate teams that include darts, pool, crib, dominoes, push penny and squash. The business also plays host to a fortnightly quiz. We are advised that accounts declare takings of circa 538,400 inclusive of VAT to the end of March 2016 - 90% Wet sales & 10% Food. We calculate reconstituted net profits after adding back director's salaries and depreciation to be in excess of 80,000. New owners could continue to run the business using the same highly successful formula or may wish to take the business to the next level by exploring the B&B opportunity (STPP), introducing live entertainment or driving the food offer.
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.

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

  • Stamford (0.4 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

  • Stamford (0.4 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 7825. 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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