3 bedroom pub for saleKENT
REF: 7834 LEASEHOLD
A MOST DELIGHTFUL AND DISTINCTIVE 19th CENTURY 100% WET LED INN OFFERED EITHER FREEHOLD OR ON A NEW 10 YEAR 'FREE OF TIE' LEASE, LOCATED WITHIN THE HISTORIC COUNTY TOWN OF MAIDSTONE, KENT
Substantial property situated in the highly sought after location of Maidstone.
Welcoming and relaxing main Lounge Bar (circa 35+) and a versatile Function Room (circa 30+).
Impressive 3 Bedroom Family Accommodation.
Enclosed Beer Garden.
Advised turnover for Y/E December 2015 circa £166,000 (incl. VAT). Current sales consistent with 2015.
Trade derived from 100% wet sales.
Offered on NEW PRIVATE FREE-OF-TIE 10 YEAR LEASE or FREEHOLD OPTION.
Available for the 1st time in 11 years.
IDEAL FIRST TIME BUY OR INVESTMENT PROPOSITION.
AN OUTSTANDING OPPORTUNITY TO PROCURE A SOLID BUSINESS AND FAMILY HOME WITH AN EXTREMELY WELL ESTABLISHED TRADING FOUNDATION OFFERING TREMENDOUS GROWTH POTENTIAL
This outstanding business is situated in the highly sought after town of Maidstone in the beautiful county of Kent and can be easily reached from junction 6 of the M20 and having excellent road communications providing easy access to the M25, M2, M20 and M23 motorways making this superb location an extremely popular commuter area for the major motorways and the major international airports of Gatwick and Heathrow. Maidstone is within close proximity to the Eurotunnel at Folkestone and the Dover Ferry terminal, bringing an abundance of visitors and tourists from France and beyond all year round. Maidstone is also situated close to Ashford and Royal Tunbridge Wells plus many other coastal resorts nearby; making this delightful inn ideally situated to draw trade from the nearby surrounding towns and villages and has an excellent level of repeat trade and is also well serviced by local schools, shops and amenities. A compelling trade opportunity.
This impressive property built circa 1850 occupies an easy accessible trading position.
Main entrance at the front leading into the Lounge Bar (circa 35+) being horseshoe shaped is a lovely traditional room exuding an inviting ambience. There is a feature central return bar servery with a solid polished counter and a matching back fitting with trade optics and glass shelving. The room is furnished with a range of loose polished tables, chairs, upholstered mini stools and upholstered bar stools. There is also a pool table with lighting over, a digital jukebox, a darts throw and AWP's x2. There is also an open fireplace (currently unused. Access to the Beer Garden.
Function Room (circa 30+) is a versatile room ideal for a variety of events including wakes and private parties etc and is furnished with loose tables and chairs. There is also a raised stage area and a projector and screen. Access to the Beer Garden.
Catering facilities include a domestic equipped Kitchen with appliances and work surfaces (appliances not tested). There is also a dry goods store room.
Lower Ground Floor Cellar with dray drop, pumps, python, post mix, tilt racks and cooler.
Ladies and Gents W.C.s
Situated on the 1st floor, being well presented and offering good sized rooms briefly comprises: 3 bedrooms, lounge and shower room.
There is an enclosed paved Beer Garden at the rear with timber picnic benches, a covered designated smoking area and a timber storage unit. There is a drinking/seating area at the front with timber picnic benches.
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:
Monday - Saturday - 11.00am - 01.00am
Sunday - Midday - Midnight
The current opening hours are as follows:
Monday - Thursday - 3.00pm - 11.00pm
Friday & Saturday - Midday - 11.00pm
Sunday - Midday - 10.30pm
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 £40,000.
2. The initial annual rent will be £20,000
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 main services and uses gas fired central heating (services not tested). Business rates payable are advised as being approximately ONLY £1,400 per annum.
Our vendor clients operate this successful business as a 'husband and wife' team on a full time basis with the assistance of 1 part time member of staff. Trade is currently derived from circa 100% wet sales, thereby providing immense scope for a new hands-on owner operator partnership with previous experience of running a catering/events orientated operation to introduce a decent food offering. This is an extremely rare and outstanding opportunity for those seeking a lifestyle change or an alternative career from the stress and strife of the City or even as an additional income stream whilst commuting. Advised turnover for Y/E December 2015 circa £166,000 (incl. VAT).
This is an excellent opportunity for either a freeholder to increase upon their existing portfolio or a leaseholder to continue to build upon the already well established trading foundations.
The business premises can be run extremely cost effectively on relatively low overheads resulting in higher profitability.
The asking price reflects the current trading foundation, the location and quality of fixtures and fittings.
Accounting information will be made available to interested parties after viewing.
This business was viewed by Martin McConnell who would be delighted to discuss further details and can be contacted on 07970 213549.
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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