4 bedroom pub for sale

NORTH LINCOLNSHIRE

£420,000

Property Description

Key features

  • Lovely village location at the foot of the Lincolnshire Wolds with stunning views of the Ancholme Valley situated between Brigg & Barton upon Humber.
  • Steak House Restaurant (72+ covers) with quality furnishings in a fabulous relaxing environment.
  • Waiting Area (circa 24+) with comfortable leather chairs & bar servery.
  • Spacious fully equipped commercial catering kitchen with 5* EHO rating.
  • Slabbed Patio area : Patron's Car Park.
  • 4 double bedroom owner's living accommodation.
  • Advised annual turnover to 31/03/15 was circa 302,425 (incl. VAT) split 80% Food : 20% Wet sales. Turnover to 03/16 forecast to be similar or higher.
  • Desirable new 'Totally Free of Tie' Private lease or Freehold.

Full description

Tenure: Freehold

REF: 7742F/L FREEHOLD


AN EXCELLENT OPPORTUNITY TO ACQUIRE A NEW 'FREE OF TIE' LEASE OR FREEHOLD DESIRABLE PROPERTY



LOCATION

This lovely Steak House is located in the North Lincolnshire village of Bonby. The village sits at the foot of the Lincolnshire Wolds with stunning views of the Ancholme valley in an area of natural beauty. This attracts walkers, ramblers and equestrian enthusiasts to the area all year round. Bonby village has a post office, village shop, a church and a village hall however is surrounded by many other affluent and friendly villages. Nearby places of interest include the famous Humber Bridge and the bustling towns of Brigg and Barton upon Humber are an equidistant 6 miles away. Elsham Hall gardens and country park, a highly sought after golf club and a caravan and camping site with popular fishing lakes are only a stones' throw away. The local motorway network is excellent with the M180, M18 and A15 providing easy access to other areas.

THE PROPERTY

This freehold property is of rendered brick construction sitting on a large plot under a pitched tiled roof. An accessible entrance porch to the side of the property leads from the car park providing access to the trading areas. These consist of:

Steak House Restaurant (72+ covers) a spacious characterful area that has recently been refurbished. The room is full of charm and loose tables and leather dining chairs sit on an attractive laminate floor. This is complimented by a quirky and attractive stone effect wall covering. There is a coffee prep area and a host/waitress station positioned to one side.

Steak House Waiting Area (circa 24+ plus standing) has loose tables and comfortable leather chairs sitting upon an attractive laminate floor. There is a very well presented bar server of wood construction with a slate tiled perimeter and achievement photographs of members of the steak loyalty club adorn a side wall.

Ladies and Gents W.C.s

Spacious and fully equipped commercial catering kitchen with 5* EHO rating and stainless steel appliances (not tested) and work surfaces. There is also a good sized dessert, wash up, prep area, dry goods and fridge/freezer storage area leading off.

Ground Floor Beer Cellar with python & remote.

OWNER'S ACCOMMODATION

The owner's accommodation is situated on the ground and 1st floors. This briefly consists of: 4 double bedrooms, bathroom with separate shower, fitted kitchen and lounge. The accommodation also has private access & private parking spaces.

EXTERNAL

To the rear of the property is an L-shaped slabbed patio area whilst to the side is the patron's car park with spaces for circa 30+ cars. Additional parking is also readily available throughout the village.

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 11am to midnight
Fri-Sat 11am to 1am
Sunday 11am to midnight
Current opening hours are:
Mon - Sat 5pm to 11pm
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 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 75,000.
2. The initial annual rent will be 33,000
3. The annual rental is simply RPI linked to inflation every 3 years, hence no rent reviews.
4. Rent payable 3 months in advance and then monthly thereafter.
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.

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 and uses gas central heating (services not tested).

THE BUSINESS

The current owners purchased the property 9 years ago and have established a thriving Steak House business serving quality food and drink to a loyal & repeat clientele. The owners currently run the business assisted by 4 full and 2-part time members of staff. The business is well established within the Lincolnshire area & thrives on repeat business from its offer of popular steaks and a highly desired dessert take away offer. It also acts as a venue for parties when requested and offers an excellent opportunity for a new operator to continue to build on the existing business. We are advised that accounts declare takings of circa 302,425 inclusive of VAT for year ending 31st March 2015 with 80% Food and 20% Wet sales. Annual takings for year ending 31st March 2016 are forecast to be similar if not higher than 2015. We calculate reconstituted Net profits to be in excess of 67,000 after adding back director's remuneration, depreciation 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, introducing dinner and dance nights/wedding parties or even exploring the opportunity of creating a B&B offer. This business would suit an operator couple who have experience of working in a similar catering and hospitality environment. Please see: www.thehaymaker.net

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 stations

  • Barton-on-Humber (4.7 mi)
  • Barnetby (4.8 mi)
  • Barrow Haven (6.3 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 stations

  • Barton-on-Humber (4.7 mi)
  • Barnetby (4.8 mi)
  • Barrow Haven (6.3 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 7742F. 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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