10 bedroom pub for sale

SOMERSET

£50,000

Property Description

Key features

  • Extensive, 3-level property centrally sited. Sherborne 9 miles, Shaftesbury 10 miles, Wells 18 miles.
  • Main bar, games and pool areas, skittle alley and function room. Car park, shelter, decked area and private garden.
  • 7 nicely presented guest rooms. Additional large meeting/letting room.
  • Exceptional and extensive all-new top floor owners accommodation. 3-4 bedrooms.
  • Advised annual sales to 30 Nov 2015 340,540 (inc VAT). Split 85% wet, 15% dry.
  • New 25 year lease with commencing annual rental of 27,000 RPI - inflation linked only.
  • Immense scope to increase food, function and letting income.

Full description

Tenure: Leasehold

REF: 7765 LEASEHOLD

RARE OPPORTUNITY TO PURCHASE A NEW 'FREE OF TIE' LEASE ON THIS HIGHLY DESIRABLE FREEHOUSE

LOCATION
The pleasant, small town of Wincanton (pop. 5,300) lies just off the arterial A303 which links London and the Home Counties to the West Country.
Mainly residential, it has some light industrial and dairy units and is noted for its popular racecourse (17 annual meetings) and its unusual twinning with Ankh-Morpork the fictional city state of Sir Terry Pratchett's Disc World. Fans of the world famous author descend on the town to celebrate twice a year. The town, set on the northern edge of the glorious Blackmore Vale, is close to nearby attractions at Stourhead and Longleat. With Wells, Sherborne, Shaftesbury and Salisbury all just a short drive away, it is an easily accessed base from which to explore the charm of Somerset and neighbouring Dorset and Wiltshire. The inn itself is in Market Place which runs into the High Street. You will note the impressive archway through to the car park.

THE PROPERTY
Dating from 1720, this grade 2 front listed former coaching inn is of 3-level stone and brick construction with painted and rendered elevations under pitched, slate roofing. It has been newly rewired alongside chimney renovation and relining. All new and extensive owner's accommodation is nearing completion.
At ground level, the main, porched entrance leads into the attractive, characterful single bar area. Highlighted by an impressive, crafted servery and fireplace with wood-burning stove, it is carpeted and traditionally furnished with polished wooden tables and chairs (circa 20 covers). Access off to Ladies & Gents w/c's .To the side are two sizeable pool, AWP machine and darts areas which have been used for dining in earlier times. (Potential 40 - 50 covers), if required. Beyond, and to the rear, is a further servery which supports the large skittle alley/function room which boasts stage, disco sound and lighting etc. (100+ covers) in this room which also has direct access from the car park.
A passageway from the bar leads to the Ladies' and Gents' toilets (also staff w/c). A fully equipped commercial kitchen (appliances not tested) together with ground level beer cellar, bottle store and storage room. We are advised that the premises are covered by a HD CCTV system.

OWNER'S ACCOMMODATION
This is hugely impressive! Following a freak chimney fire last year, the entire owner's accommodation, which extends across the whole of the top floor, was renovated. With new kitchen and bathroom, this top level has been redesigned to also provide 3 bedrooms, an office (or bedroom) and lounge. Ideal for extended family/partnership arrangements.

GUEST ACCOMMODATION
This is at first floor level and consists of 7 nicely presented guest rooms each with TV and beverage-making facilities. 3 are en-suite and a separate bathroom is available for the others. It is possible that at least two rooms could be converted into en-suites. This is popular tourist/racing/events and commercial region and this upgrade would provide a lucrative return.

EXTERNAL
Through the splendid archway to the side and rear of the inn is a smoking shelter, a decked area with tables, a small, private garden with adjoining car space and a good-sized customer car park.

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 10.00am to 12 midnight
Fri - Sat 10.00am to 2.00am
Sun 10.00am to 1.00am

Current opening hours are:

Monday 4.00pm to 11.00pm
Tues - Thurs 11.00am to 11.00pm
Fri - Sat 11.00am to 1.30am
Sunday 12 noon to 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 property and business is being offered for sale as a new highly favourable 25 year Private FRI Lease Agreement as follows:
1. The asking premium will be 50,000
2. The initial annual rent will be 27,000
3. The annual rental is simply RPI linked to inflation every 3 years, hence no rent reviews.
4. Rent payable quarterly in advance.
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.

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 mains gas for cooking and central heating (services not tested).
Business rates payable are advised as being TBC.

THE BUSINESS
The inn is arguably the town's premier hostelry. A pub for all seasons and all ages, it projects a civilised, relaxed and welcoming ambience. Popular with visitors, it also enjoys strong community support and hosts pool, skittles, darts and quiz teams plus monthly karaoke evenings.
We are advised annual sales to 30 Nov 2015 340,540 (inc VAT) Split 85% wet 15% Dry.
The vendors have opted for mainly wet trading but is evident that a stronger focus on a higher margin catering and guest accommodation would significantly expand sales and profits.
In their near 20 years here, the owners have created a consistently solid trading foundation giving newcomers a reassuring business platform upon which to expand. This is a compelling investment opportunity:
A private, long lease, a fair rent, immense scope and top class, new accommodation to boot!
The business will attract trade newcomers and veterans alike and we recommend early viewing.

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

This business was viewed by Frank Mackwood who would be delighted to discuss further details and can be contacted on: 07803 049291.

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.


Nearest stations

  • Templecombe (3.8 mi)
  • Bruton (4.1 mi)
  • Castle Cary (5.7 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

  • Templecombe (3.8 mi)
  • Bruton (4.1 mi)
  • Castle Cary (5.7 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 7765. 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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