3 bedroom pub for saleLEICESTERSHIRE
PROFITABLE 18TH CENTURY COUNTRY PUB/RESTAURANT BEING OFFERED EITHER FREEHOLD OR 'FREE OF TIE' LEASE IN THE AFFLUENT VILLAGE OF COLEORTON, LEICESTERSHIRE IN THE HEART OF THE NATIONAL FOREST
Immaculately presented, characterful, destination pub/restaurant, situated on the A512 close to the historic market town of Ashby de la Zouch, East Midlands airport & M42 motorway. M1 in easy reach.
Currently 80 covers in atmospheric surroundings - Beams, exposed brickwork & log burning stoves - scope to increase!
This 18th Century Inn stands on a substantial plot with country views - large garden, underused barns (B&B/garden room potential) and ample car parking.
Fully equipped commercial catering kitchen, disabled toilet.
3 bedroomed, 2 en-suite owner's accommodation with rooftop conservatory & patio area with views of Coleorton Hall & surrounding countryside, Lounge and fully fitted kitchen.
We are advised that accounts year end 31st October 2016 show a turnover of £635,130 (inc VAT). Trade split is approx. 70% Food, 30% Wet. 13 years of accounts available and show year on year increases.
A FANTASTIC OPPORTUNITY TO ACQUIRE A THRIVING BUSINESS WHICH STILL HAS FURTHER POTENTIAL FOR NEW OWNERS
This business is located on the A512 in the affluent sought after North West Leicestershire village of Coleorton in the heart of the national Forest. Coleorton has a highly popular primary school, a post office and several garages and is only 2 miles away from the historic bustling market town of Ashby de la Zouch. Nearby points of interest include Conkers discovery centre (6 miles), Twycross zoo (9 miles) and the famous Bosworth battlefield is 10 miles away. The popular university town of Loughborough is within easy reach (10 miles) and the cities of Leicester (15 miles) and Nottingham (20 miles) are also accessible. The local motorway networks are excellent with the A42/M42 1.5 miles away and the M1, A50, A38, M69 and M6 all close by.
The property is immaculate throughout and has been refurbished and furnished to an exceptionally high standard in early 2016.
This highly profitable inn is of fully rendered brick construction and sits under a pitched, tiled apex roof. Entrances to the front and side of the property provide access to the trading areas. These are corridor linked and consist of:
Bar (circa 30 covers plus standing) has a lovely comfortable and welcoming atmosphere. Loose assorted tables and chairs and minimal upholstered perimeter bench seating all sit on a fully carpeted floor. Exposed wooden ceiling and wall beams are complimented by an exposed brick built fireplace to one end with an 'open through' built in log burner. To the other end of the room is a quirky snug area with an open ceiling feature and an attractive wall display of wooden wine boxes. There is a well-presented central bar server of wood construction with 5 cask ales on offer.
Lounge (circa 50 covers plus standing) is a spacious characterful area with a warm relaxing atmosphere and cosy tucked away snug areas. Loose tables, chairs and wooden bench pews all sit on a carpeted floor with exposed wooden beams to the walls and ceiling. Areas of exposed brick wall are complimented by several built-in log burners positioned throughout the trading area. To one end are double doors that lead out onto a block paved patio area that overlooks the rear grassed garden. There is also a brick built bar server offering 4 cask ales and a coffee prep area behind.
Ground floor Beer Cellar with python system, remote, pumps etc. Cold Store, Dry goods and fridge/freezer storage.
There is a fully equipped commercial Catering Kitchen with a 5* EHO rating and stainless steel appliances and surfaces (equipment not tested). A separate prep area leads off.
Ladies, Gents and accessible WC's.
Like the trading areas, the immaculate owner's accommodation is of a high standard and is located on the 1st floor. This briefly comprises of: 2 double bedrooms (both en-suite), 1 single bedroom/office, Lounge, Kitchen, bathroom and a first-floor conservatory area with magnificent picturesque rolling countryside views. There is also a private rooftop terrace, private grassed garden, private access, yard area and outbuilding storage.
To the rear of the property is a delightful spacious grassed garden area with wooden picnic benches (circa 70+ Covers) and fabulous countryside views. There is also children's play equipment and a relaxing decked pergola covered Al Fresco area with further wooden benches. To the front of the property are further benches (circa 16 covers) set amidst attractive and colourful planters, baskets and troughs. To the front and side of the property is the patrons lined car park with spaces for circa 50+ 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 - Sun 11am to 11pm
Current opening hours are:
Tues - Fri 12noon to 3pm
Tues - Fri 5.30pm to 11pm
Saturday 12noon to 11pm
Sunday 12noon to 8.30pm
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) or as a new highly favourable 10-year Private FRI Lease Agreement as follows:
1. The asking premium will be £100,000.
2. The initial annual rent will be £50,000
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 all available mains services are connected (no services tested). Business rates payable are advised as being circa £12,872 per annum.
The current owners purchased the business in 2003 and have since built an excellent reputation as a popular venue offering a relaxed dining experience with honest quality locally sourced food, quality ales and a popular array of wines. These are served to a loyal, repeat and desirable clientele. The business is currently operated by the owners assisted by 3 full time chefs and circa 12-part time/casual members of staff. Our vendor clients are now looking to sell this highly attractive freehold property in order to take life at a more leisurely pace.
We are advised that accounts declare takings of circa £635,130 (incl. vat) to October 2016 with a trade split of 70% Food and 30% Wet sales. We calculate reconstituted net profits after adding back depreciation and excessive one off costs to be in excess of c£110,000. This has increased tremendously following refurbishment in early in 2016 and extending of the opening hours thereafter. New operators could continue to operate the business using the same successful formula or may wish to take the business to the next level by extending the opening hours even further, looking at introducing some type of entertainment or quiz or exploring use of the rear barns to introduce a bed & breakfast/letting accommodation offer.
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)
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