7 bedroom pub for sale

LONDON

Sold STC £74,950

Property Description

Key features

  • Imposing and substantial community inn situated in the bustling location of Edmonton, North London.
  • Versatile Public Bar (circa 60+) and a welcoming Lounge Bar (circa 80+).
  • Good sized 5/6 bedroomed Letting Accommodation.
  • Self-contained 1 bedroomed owners/managers apartment.
  • Advised current turnover circa 200,000 (incl. VAT).
  • Trade spilt circa 95% wet and 5% food.
  • Immense potential for catering orientated operators.
  • Long Lease - 15 years remaining on old Unique part tied renewable lease.

Full description

Tenure: Leasehold

REF: 7396 LEASEHOLD




AN INCREDIBLE OPPORTUNITY TO PURCHASE A SOLID AND WELL ESTABLISHED BUSINESS SITUATED IN THIS VIBRANT LONDON LOCATION OFFERING IMMENSE GROWTH POTENTIAL

LOCATION

This superb business is situated in the highly desirable and densely populated north London suburb of Edmonton and can be easily reached from junction 25 of the M25 circular near Waltham Cross. Situated within the commuter belt being approximately ONLY 10 miles from the capital city of London and also having excellent road communications providing easy access to the M25, M4, M40, M11, A1(M) and M1 motorways making this superb location an excellent strategic commuter area for the major motorways and the major international airports of Heathrow, Gatwick, Stansted and Luton. The inn draws an excellent level of local trade from Edmonton itself with its first class reputation and customer service that attracts trade from a desirable clientele emanating from the nearby surrounding towns, villages and larger catchment areas that culminate in providing a continuous and consistent flow of repeat trade. A truly compelling business opportunity.

THE PROPERTY

This most impressive and imposing community inn occupies a prominent and easy accessible main road trading position, with high levels of footfall, situated within a highly populated residential and commercial area.
Main entrance at the front leading into the Public Bar.

Public Bar (circa 60+) is a good sized versatile room and is ideal for weddings, private parties and wakes etc and could quite easily be utilised as a restaurant. There is a feature return bar servery and the room is furnished with loose polished tables, polished poseurs, upholstered chairs, fixed upholstered perimeter seating, upholstered stools and bar chairs.

There is also pool table with lighting over, a digital jukebox, a darts throw, a games machine and an AWP. Access to the Lounge Bar.

Lounge Bar (circa 80+) is a good sized room exuding a warm and welcoming ambience having a feature return bar servery with a solid polished counter and a matching mirrored back fitting with trade optics and refrigerated bottle coolers (not tested) which is complemented by a range of loose polished tables, fixed upholstered perimeter seating, upholstered chairs and upholstered bar chairs. There is also a feature brick built open fireplace (currently unused). Access to the W.C's and the Beer Garden.

Lower Ground Floor Cellar with dray drop, pumps, python, post mix and cooler. There is also an office.

Ladies and Gents W.C's

LETTING ACCOMMODATION

Situated on the 1st and 2nd floors, being of a good size and briefly comprises: 5/6 bedrooms, lounge/bedroom, kitchen/diner and utility room, shower room and bathroom.

Agents Note: The letting accommodation can be quite easily be used as owners accommodation if so desired and the kitchen can be utilised as a catering kitchen if re-fitted with commercial appliances.

OWNER'S ACCOMMODATION

To the rear is a mews-style self-contained apartment and briefly comprises: 1 bedroom, lounge, kitchen and shower room (we are advised that the weekly rent for this apartment could be circa 150).

EXTERNAL

There is a covered patio area/smoking solution to the rear elevation (circa 30+) with timber picnic benches.

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:
Monday - Thursday - 11.00am - 11.00pm
Friday & Saturday - 11.00am - 12.30am
Sunday - 11.00am - 10.30pm
The current opening hours are as follows:
Monday - Thursday - Midday - 11.00pm
Friday & Saturday - 11.00am - 01.00am
Sunday - Midday - 11.00pm

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 15 years remaining of the old Unique full repairing and insuring, renewable agreement. We are informed that the rent is currently ONLY 21,000 per annum. We are advised that the lease is part tied' to draught and bottled beers and ciders only. 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 payable are advised as currently being circa 4,500 per annum.

THE BUSINESS

Our vendor operates this excellent business as a 'sole trader' on a full time basis with the assistance of 2 part time members of staff.

Trade is currently derived from circa 95% wet sales and 5% food sales; thereby providing immense scope for a new hands-on owner operator partnership with previous experience of running a catering/functions/lettings orientated operation to take this business to the next level by exploiting the immense potential that is to be found here. There is also massive potential due to the high level of footfall and passing trade emanating from the busy local residents and commercial outlets and businesses to facilitate early opening hours to provide coffee and breakfast etc which would have an incredible positive impact on the turnover and profits. Advised current turnover is circa 200,000 (incl. VAT). This delightful community inn is a well-established and successful business and in our opinion with the above areas of potential we would quite easily expect a fully focussed and fully committed operator to achieve a turnover well in excess of 275,000 (incl. VAT).

Accounting information will be made available to interested parties after viewing.

This business was viewed by Martin McConnell who would be delighted to discuss further details and can be contacted on 07970 213549.

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

  • Edmonton Green (0.2 mi)
  • Silver Street (0.6 mi)
  • Angel Road (1.0 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.

Street View

Nearest stations

  • Edmonton Green (0.2 mi)
  • Silver Street (0.6 mi)
  • Angel Road (1.0 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 7396. 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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