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6 bedroom pub for sale

NORFOLK

£110,000

Property Description

Full description

Tenure: Leasehold

Ref 7833 LEASEHOLD


POPULAR AND THRIVING TRADITIONAL INN WITH LETTING ACCOMMODATION IN AN ENVIABLE LOCATION IN THE HISTORIC AND CHARMING NORFOLK VILLAGE OF WALSINGHAM


Excellent central position in the highly sought after village of Walsingham, Norfolk.

Main bar (circa 24) full of character with brick feature fireplace, Separate small Bar/Dining Room (circa 14), Cosy snug (circa 12) with exposed brickwork and wooden panelling.

Characterful Breakfast Room (circa 14) with exposed beams and brick feature fireplace.

5 Letting Bedrooms - 3 en-suite.

Fully equipped Commercial Kitchen.

Separate 1 Bedroom Owner's Accommodation.

Large enclosed Patio Area with marquee. Welcoming Courtyard with picnic benches and parasols.

Excellent outdoor Games Room.

Advised turnover circa 342,442 (incl. VAT) for y/e March 2016 - Trade split 75% wet, 10% food, 15% accommodation (food trade currently franchised).

Partially tied renewable lease (9 years remaining).

A RARE OPPORTUNITY TO ACQUIRE THIS WELL ESTABLISHED AND THRIVING BUSINESS IN A HIGHLY DESIRABLE LOCATION WITH FURTHER GROWTH POTENTIAL


LOCATION

This outstanding and long established business is in a truly enviable central location in the historic Norfolk village of Walsingham on the B1105 between Fakenham and Wells next the Sea. Walsingham is not only a charming picturesque Norfolk village but is also world famous for its religious shrines in the honour of the Virgin Mary and is a major pilgrimage centre attracting thousands of visitors and tourists from all over the world all year round. The most famous shrine is the Anglican Shrine (Shrine of Our Lady of Walsingham) and offers accommodation of over 200 rooms. Walsingham is also home to the impressive 12th century abbey ruins which host the spectacular Snowdrop Walk every February. There are also other attractions such as the Light Railway which is the longest narrow gauge railway in the world, and the Walsingham Museum. There are also local amenities such as shops, doctors, schools etc., making Walsingham one of the most enviable places to reside in the UK.

THE PROPERTY

Eye catching two storey building of brick construction under a pitched tiled roof believed to be over 600 years old and is in a superb central position next to the Museum

Main Bar (Circa 24) has a welcoming atmosphere full of 'olde worlde' charm with exposed beams, brick feature fireplace, part carpet and part wooden floor, flat screen TV and fully equipped wooden bar servery with bottle fridge and optics etc.

Small Bar (Circa 14) is separate to the main bar with wooden bar servery and could be used as a dining room.

Snug (Circa 12) has a cosy atmosphere (ideal for small gatherings) with exposed brickwork and wooden panelling.

Breakfast Room (Circa 14) located on the first floor and has an inviting appeal with a wealth of exposed beams, feature fireplace and wooden floor and also has an excellent view over the village centre. All public areas are furnished with matching wood tables, chairs and pew seating.

Ladies & Gents W/C all in good order.

Catering Facilities

There is a fully equipped commercial kitchen with stainless steel surfaces, extractor system, ovens, hot plate, fryers etc. (equipment not tested), also separate washing up area and fridge and freezer storage.

LETTING ACCOMMODATION

Is located on the first floor and comprises of 2 double and 1 twin en-suite bedrooms, 1 twin and 1 single bedroom with shared bathroom and W/C which could be turned into a family room.

OWNERS ACCOMMODATION

Also located on the first floor comprises of 1 double en-suite bedroom and a large lounge

EXTERNAL

To the front of the property is a superb welcoming courtyard area with trees, shrubs and plants, picnic benches and parasols. To the rear is an enclosed patio with marquee and an excellent outdoor games room. There is also an outside bar (ideal for beer festivals).

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-Wed & Sun 11.00am to 01.00am
Thurs-Sat 11.00am to 02.00am

Current opening hours are:
Mon-Sun Midday to 01.00am

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 business is offered for sale as a lease assignment with approximately 9 years remaining
of the Punch Taverns full repairing and insuring renewable agreement. We are advised that the Inn is free of tie for wines, spirits, and soft drinks. We are informed that the rent is currently 27295.81 per annum to be reviewed August 2020. 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 mains services with the exception of gas (no services seen or tested).

Business rates payable are advised as currently being circa 7381.00 per annum.

THE BUSINESS

Our vendor clients took over the business 14 years ago and in which time they have built up a thriving and successful wet trade and a good reputation for quality home cooked food not only from the local community and surrounding area but due to its truly excellent location also from the many tourists, visitors and pilgrimages to the village all year round. With its welcoming atmosphere and with the added benefit of the letting rooms and outdoor facilities this business has become a very popular venue.
The business is currently being run by the owners part-time, a full-time manager and 5 part-time staff. It should be noted that the food operation is currently franchised.

Our vendors have decided they wish to sell the business as they intend to retire.

We are advised that accounts declare takings of circa 342,442 (incl.. VAT) for year ending March 2016.

There is an excellent opportunity for new owner operators to take this already successful business to its next level by introducing a more efficient booking procedure to maximise on the 5 well maintained and good quality letting rooms, also by utilising the excellent outdoor facilities for beer/music festivals and by introducing regular entertainments such as live music, folk nights, buskers nights, quizzes etc.

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

This business was viewed by Geoff Bryan who would be delighted to discuss further details and can be contacted on 07887 571720.

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.



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