3 bedroom pub for sale

Lincolnshire

£89,995

Property Description

Key features

  • Traditional inn in prime village location only 2 miles from the market town of Spalding with Stamford, Bourne & Market Deeping in easy reach.
  • Main Bar (circa 30+) with comfy seating, air conditioning/heating system & feature log burner set in a lovely exposed brick built fireplace.
  • Lounge/Dining (circa 30 covers) with air conditioning/heating system.
  • Restaurant/Function Room (circa 60+) on the 1st floor with exposed wooden ceiling joists & carvery units.
  • 3 bedroom Owners Accommodation.
  • Decked & Grassed Drinking Areas to the rear of
  • Advised turnover circa 500,241 (incl. VAT) for year ending 31st March 2014.
  • Trade 60% Wet 40% Food sales.
  • Totally Free of tie renewable lease with highly attractive rent of only 7% of Net turnover.

Full description

Tenure: Leasehold

REF: 7513 LEASEHOLD




A RARE OPPORTUNITY TO ACQUIRE A THRIVING PROFITABLE BUSINESS OFFERING FURTHER POTENTIAL AVAILABLE FOR THE FIRST TIME IN 23 YEARS.

LOCATION

This business is located in the growing Lincolnshire village of Pinchbeck. The village is situated in the South Holland district of Lincolnshire and is only 2 miles North from the beautiful large 'floral market town' of Spalding. The popular towns of Bourne (10 miles) and Market Deeping (14 miles) are close by and the famous historic town of Stamford is only 20 miles away. Pinchbeck itself has a sought after Primary school, local shops, a church and a village hall. The local road network includes the A15, A16 and A17 providing routes to all other parts of beautiful Lincolnshire.

THE PROPERTY

This popular thriving inn is of brick construction, sitting under a pitched, slate roof, occupying a prominent position in the centre of the village.

Entrances to the front and rear of the property provide access to all the trading areas. These consist of:

Main Bar (circa 30+ plus standing) is a good sized room with loose tables, stools and wooden bench pews sitting on a fully carpeted floor. To one end are 2 comfy leather armchairs and a leather settee set in a bay window area. To the other end is a fabulous recently installed roaring log burner set in an exposed brick built fireplace. The room also has an air conditioning/heating system, a small discreetly positioned wall mounted HDTV and an AWP. There is also a well presented bar server of wood construction with feature Bull and 4 cask ale hand pulls.

Lounge/Dining (30 covers) has loose tables and chairs sitting on a fully carpeted floor. The room also has an air conditioning/heating system, a coffee preparation area to one end and a gas fire.

Restaurant/Function Room (circa 60+ plus standing). Located on the 1st floor this substantial room is multi use and has a majestic warm and welcoming atmosphere. The room has loose tables and chairs sitting on a fully carpeted floor. Exposed wooden ceiling joists look down on a wooden bar server with carvery units to one end. This room can be used either as a Restaurant, Function or meeting room and can be laid out accordingly to suit its needs.

Ladies, Gents W.C.'s.

There is a fully equipped Commercial Catering Kitchen to include 2 Rational ovens with stainless steel appliances and surfaces (appliances not tested). A wash up area, walk in fridge and dry goods store lead off. There is also a ground floor Cellar with cask racking system, python, remote etc.

OWNERS ACCOMMODATION

The owners accommodation is situated on the 1st floor and briefly comprises: 3 double bedrooms, lounge, kitchenette, bathroom and separate WC.

EXTERNAL

To the rear of the property is a spacious gazebo covered decked garden area with wooden picnic benches set amidst colourful planters, troughs and shrubbery. There are 2 small grassed garden areas either side. Also to the rear and front is the patron's spacious car park providing spaces for circa 50+ cars. To the side of the property is a garage and a shed that provide further room for storage.

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 11am to midnight

Current opening hours are:
Mon - Thurs 12noon to 2.30pm
Mon - Thurs 5pm to 11pm
Fri/Sat 12noon to midnight
Sunday 12noon to 11pm

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 19 years remaining of the Wellington Pub Co full repairing and insuring, renewable agreement. We are advised that the inn is totally 'Free of Tie'. We are informed that the highly attractive rent is currently 29,081 per annum (7% of Net turnover) to be reviewed in 2019. 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) with Propane gas used only for a chargrill. Business rates payable are advised as currently being circa 12,600 per annum.

THE BUSINESS

The current owners purchased the business in 1991 and over the past 23+ years have established a solid profitable trading foundation with a loyal and desirable clientele. The business is at the centre of the local community with weekly Steak and Fish & Chip evenings backed up with seasonal food promotions. Currently operated by the owners manager assisted by 4 Full and 8 part time staff our vendor clients have now decided after 23 successful years to move on, take life at a more leisurely pace and look at other business opportunities. We are advised that accounts declare takings of circa 500,241 inclusive of VAT for year ending 31st March 2014 - 60% wet 40% Dry sales. We calculate reconstituted Net profits to be in excess of 72,000 after adding back manager's wages and other one off costs. New owners could continue to operate the business using the same successful formula or they may wish to take the business to the next level by extending the opening hours and attracting additional lunchtime and afternoon trade from the passing clientele and the village centre.

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

  • Spalding (2.0 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.

Map & Street View

Nearest station

  • Spalding (2.0 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 7513. 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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