3 bedroom residential development for saleCOUNTY DURHAM
REF 7658 FREEHOLD
PROFITABLE COMMUNITY FREEHOLD INN ON THE OUTSKIRTS OF CROOK IN COUNTY DURHAM CLOSE TO BISHOP AUCKLAND, DURHAM AND THE GATEWAY TO THE PENNINES AND WEARDALE.
Prominent location on the main road, 2 minutes from the middle of busy Crook town centre.
Public Bar (circa 30) & Lounge Bar (circa 50).
Beautiful south facing Garden (circa 70).
Immaculate 3 Bedroom Owners Flat.
Potential for conversion to letting rooms, catering
kitchen & self contained studio flat (STPP).
Advised turnover circa £109,419 (inc VAT) y/e
August 2014, with expected increase for y/e 2015
100% wet trade with great potential for catering.
Excellent gross profit and reconstituted profits of
£49,625 and £20,366 respectively in 2014.
A SUPERB OPPORTUNITY TO PURCHASE A PROFITABLE BUSINESS AND AN ENVIABLE LIFESTYLE IN A BEAUTIFUL NORTH EAST SEMI RURAL LOCATION
The business is located on the outskirts of the town of Crook in County Durham. Ideally located on the main A689 road into the centre of town off the busy A68, gateway to the Pennines and Weardale.
Crook has a large rural community, with easy access to Tow Law, Fir Tree and only 5 minutes from the popular Crook Golf Course. Only 20 minutes away are the larger more well know cities of Bishop Auckland and Durham.
The property has been well maintained and is well presented throughout and traditionally furnished to a good standard.
The front entrance takes you into the property giving you the choice of entering the Lounge Bar or the Public Bar to the right.
The Public Bar (circa 30) is cosy with both fixed and loose traditional wood furniture, fully carpeted with a functional central bar servery. A small passage takes you through to the Games Room with a full size pool table, AWP and TV.
The Lounge Bar (circa 50) is the larger of the 2 bars, L shaped with a central bar servery (connected to the Public bar servery) again furnished with loose and fixed furniture.
Well maintained Ladies and Gents Toilets.
Compact Cellar with newly installed dispensing equipment.
Small domestic kitchen completes the facilities on the ground and basement floors.
Situated through a private entrance between the Public Bar and Games Room, located on the first floor and is newly decorated and furnished to a very high modern standard. There are 3 double Bed Rooms with 2 previous single bedrooms tastefully converted to a small but cosy Dining Room and modern Office. Spacious Living Room with a bright and fully fitted Kitchen. 2 modern toilet/shower rooms.
The external area is unique, quirky and offers a good variety of outbuildings and natural landscape. There is a purpose built balcony come smoking area bordered by glassed potting shed, the first of 3 outdoor storage rooms and a standing wooden viewing counter. A raised wooden decking area leads to the large South facing Gardens which has previously played host to a wedding party of 80 people. The second outdoor storage space is a good size room and has potential to be converted into a commercial kitchen with access through to the Lounge Bar (STPP). The third is the most unique and was originally a small stable. This again has the potential for conversion ideally suited for a self contained studio unit
(STPP). Adjacent to this is a private drive with car parking spaces for approx 5 cars leading to off street public parking owned by the council with additional spaces for a further 10 cars.
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
Friday 11am to 1am
Saturday 11am to 2am
Sunday 11am 1am
Current opening hours are:
Mon - Thurs 7pm to midnight
Friday 7pm to 1am
Sunday 12am to 1am
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.
The property and business is being offered for sale freehold (although we have not had sight of the title deeds). All mains services are connected with gas central heating (no services tested). Business rates payable are advised as zero due to the benefits of small business relief.
The current owners purchased the business 17 years ago and have built an excellent reputation as the 'best community pub' in the area with a very loyal and large clientele base. The Inn is home to 2 pool and darts teams that play all year around as well as hosting live music every Saturday night and a 'Rock Night' once every quarter. With the facilities of the large Lounge Bar, it also currently hosts all meetings for the local political party as well as meetings for the pool, darts, football and cricket committees.
There are tremendous opportunities to increase the revenue by introducing food, longer opening hours and to utilise the 2 smaller double bedrooms as letting rooms. The Inn is operated on limited opening hours and facilities to suit the lifestyle of the current owners, party due to health reasons.
We are advised that accounts declare takings of circa £109,419 (inc VAT) to end August 2014 with the forecast for year end 2015 figures to show a small increase. This has been achieved with limited opening hours over a 7 day week, 4 of those days operated by a temporary staff member acting as an assistant manager.
Gross profits are good, reaching 51% based on 100% wet trade with a reconstituted net profit of £20,366 after adding back depreciation and half of the assistant manager's wage. (The current owners work limited hours and are away 4 days in the week). This business would be ideal for a couple willing to work a back of house, front of house operation especially if adding a food offer and savings can be made by working more days and hours to build on the successes of the current business operation. EPC: D
Accounting information will be made available to interested parties after viewing.
The property was viewed by Stewart Marr who would be delighted to discuss further details and can be contacted on 07586 452 898.
Viewing appointments must be made via Guy Simmonds.
Energy Performance Certificates (EPCs)
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