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7 bedroom pub for sale

High Street,Downham Market,PE38

367 sq. m. | £89,995

Property Description

Commercial information

  • Business for sale
  • 3,950 sq ft (367 sq m)

Key features

  • 7 LETTING ROOMS
  • LEASEHOLD
  • REF 2995

Full description

Tenure: Leasehold

LOCATION
The Swan Hotel is located in the town centre of Downham Market, Norfolk.

The business is situated in the busy town centre amongst a plethora of retail outlets. In the area is a shoe shop, restaurant, clothing store, electrical store, DIY store, key cutters and much more. The town square has a beautiful historical town clock, this is a very charming town with many outstanding features.

The business is located on the main high street in Downham Market and therefore benefits from the mass amounts of footfall. The area has brilliant public transport links with a bus stop just a short walk away from the property. Downham Market train station is approximately 0.6 miles away. The A10 which is a main A-road that runs from Kings Lynn to Cambridgeshire is just a short drive away which is fantastic for commuters and tourists.

BUSINESS
Hilton Smythe is delighted to welcome to the market The Swan Hotel. The premise was originally established as a hotel and was transformed into a pub in the last few years. Our client took over the pub and guest house in 2013.

Our client is now looking to sell the business due to the desire to relocate. This is a close community and this is a well-known community pub. The pub currently hosts sports nights and provides live entertainment. Turnover is based on the sale of drinks and letting out rooms.

According to the 2015 accounts, the current turnover for the business is approximately 239,700 per annum, with a gross profit of 50%. We believe this figure could be massively increased if the new owner was to look at providing food sales. On the first floor is a domestic kitchen but could easily by transformed into a full commercial kitchen. Providing hot meals would boost weekly trade, we highly advise the sale of Sunday roasts which is always a great seller.

This is a very historic building and it is said that King John in 1216 and King Charles in 1646 stayed in the former hotel. This has always been a hot spot in the town but has recently been picked up by our client who boosted its reputation. The pub benefits massively from loyal repeat trade from the friendly locals.

There is a fantastic income generated from the 7 letting rooms that are within the premise. The rooms are fully fitted with little or no work needed. We are advised that there is an online booking system which has been great for boosting the business. This can be found on the businesses website www.swandownhammarket.co.uk The websites is complete to a high standard and provides information on the pub and letting rooms. The website is used to promote up and coming events and also special offers that are being held.

The buyer should also look into advertising the letting rooms on websites such as Booking.com and other well-known travel sites.

With the property is also a private 2 bed owners accommodation, and so would be a perfect opportunity for a purchaser looking for a change in lifestyle.

Early viewing of this long established and outstanding business in this most desirable location is highly recommended. This is an opportunity not to be missed.

PREMISES
The business boasts a substantial sized grade II listed premise. This is a fantastic traditional pub with many characteristic features such as a traditional fireplace and the beautiful archway at the front of the property. The archway leads through to a private carpark.

Front entrance leads to:
Pool room with table and games machines.

Which heads through to:

Main bar with-
Seating & tables for circa 30+ people this excludes bar stools. Equipment includes three flat screen tv's, juke box, dart board on raised area also used for the live entertainers.
The bar is fully fitted with 12 x pumps, optics, 2 double door bottle chillers, till and a sink unit.

Ladies and Gents w/c's (ladies disabled friendly)

Rear door with access ramp for wheel chairs

First floor-
Kitchen (domestic fixture and fittings)
Good size with central work area - could easily be upgraded to a commercial kitchen. Equipment includes 1 x tall fridge, 4 x ring cooker, fridge freezer, 2 x microwaves, slow cookers, sink unit, wall and base units.
Family bathroom with shower over bath.
Separate w/c
Office
2 x double bedrooms

Second floor-
7 x letting rooms, all with tea & coffee facilities and flat screen tv's:
1st is a family room - with a double and a single. There is also a wash hand basin
2nd 3rd & 4th - Twin rooms, with hand basins
5th & 6th - Single rooms with basins
7th letting room- Single room with own shower

2 x shower rooms with w/c's.
Currently installing a kitchen for use by all above. New boiler has also been fitted.

External-
Archway entrance to rear car park (up to 12 cars)
Rear courtyard beer garden - paved area with bench seating and smoking shelter.
Outbuilding with external bar and storage area.

TENURE
We are advised the business is Leasehold.

Original lease length: 20 years
Remaining lease length: 18 years
Review every: 10 years
Rent: 25,000 per annum

HOURS
The business is open-

Monday - Wednesday: 10am - 1am
Thursday - Saturday: 10am - 2am
Sunday: 10am - 12:30am

STAFF
The business is run and managed by our client with the help of 5 part time members of staff.

FINANCIAL PROFILE
According to the 2015 accounts, the current turnover for the business is approximately 239,700 per annum, with a gross profit of 50%.


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