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Restaurant for sale

Bath Road, RG10

£249,500
468 sq. m.

Property Description

Commercial information

  • Business for sale
  • 5,037 sq ft (468 sq m)

Key features

  • REF 13236
  • LEASEHOLD BUSINESS
  • RESTAURANT
  • BED & BREAKFAST
  • PUBLIC HOUSE

Full description

Tenure: Leasehold

LOCATION
The New Inn occupies substantial two storey premises, ideally located within the quaint village of Knowl Hill. The business is situated on the very busy Bath Road (A4), one of the main roads from Maidenhead to Reading, therefore, the business benefits from a high volume of passing trade. The business further benefits from a large car park to the side of the premises.

Knowl Hill is a village in the civil parish of Hurley in Berkshire. Amenities within the village include a primary school, a café and a tool shop. On the south side of the A4 is Knowl Hill Common, a hill with a view toward Windsor Castle, which can be seen on a clear day.

The area is served by the public transport system, with bus stops being just a short stroll from the premises. The nearest railway station is Twyford, which is approximately 3½ miles away: The area is also well served by the A-roads, with the business being situated on the A4, which links to the A404 and the national A-road and motorway networks. Reading is approximately 8½ miles away and Maidenhead is 6 miles away.

BUSINESS
Hilton Smythe is delighted to welcome to the market this well-established and popular pub, restaurant and bed & breakfast business, which is ideally located within the village of Knowl Hill, Berkshire.

The business was established by our client in 2013 and is only now being offered to the market due to our client's other business commitments. The business operates 7 days per week and generates a turnover in the region of £449,000 per annum, with a gross profit of approximately 54%, as per the 2016 accounts.

The business offers a variety of alcoholic beverages including, beers, lagers, an extensive wine selection and spirits, as well as soft drinks. The restaurant is very popular serving a variety of homemade Italian cuisine, including pasta dishes, fish dishes, meat dishes and tapas, as well as a large selection of homemade desserts.

The New Inn also has 9 guest bedrooms, all of which were completely refurbished in 2013 to a very high standard. There are 6 x double rooms, 2 x single rooms and a superior double room, all of which are en-suite. The guest rooms generate 40% of the current turnover. There is also some staff accommodation, which could be used as owners' accommodation, should a new buyer desire.

Externally our client has created an office space, which has both heating and electricity at a cost of between £4,000 - £5,000, as well as a 20ft.

The business has a Certificate of Excellence 2013 award from the popular travel website Trip Advisor.

The business has built up an excellent reputation within the area and further afield for the very high quality of the fayre and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

We feel there is scope to increase the turnover by extending the opening hours. A new owner could also embark on a modest marketing campaign to promote the excellent food and accommodation offered. The business boasts excellent reviews on the popular travel website Trip Advisor and has an excellent and informative website to advertise the business at www.newinnknowlhill.com.

This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this thriving business to the next level; therefore, early discussions with Hilton Smythe must come highly recommended to avoid disappointment.

PREMISES
Substantial two storey premises in an ideal trading location, briefly comprising:

Lower ground floor:

Large basement used for beer lines, storage etc.

Ground floor:

Main bar area with:

Bespoke brick and timber bar with 4 x points of dispense, spirit display, 3 x bottle refrigerators, coke spray gun, electronic cash register, coffee machine & grinder, stools etc.

Tables, chairs and bench seating to left and right hand side of the main door, approximately 70-75 covers.
Feature fireplace.
Wooden flooring.
Beamed ceiling.

Full commercial kitchen with:

6 x hob cooker.
Stainless steel hot cupboard.
Commercial toaster/grill.
4 x ho cooker.
Glass washer.
Stainless steel sink unit.
Double stainless steel sink uit.
Microwave ovens.
Dish washer.
Refrigerators and freezers.

Laundry with washing machine and dryer.

First floor:

Room 1: Double with en-suite.
Room 2: Double with en-suite.
Room 3: Double with en-suite.
Room 4: Single with en-suite.
Room 5: Single with en-suite.
Room 6: Double with en-suite.
Room 7: Double with en-suite.
Room 8: Double with en-suite.
Room 9: Superior double with en-suite.

All the guest rooms were completely refurbished to a very high standard in 2013.

There is also some accommodation that is currently used by the staff, which could be used as owners' accommodation.

External:

Large car park.
Outdoor beer garden/seating area.
Children's play area.
Office, converted by our client with electricity and heating (cost of between £4,000 - £5,000).
Seating area to front of premises with tables and chairs.

TENURE
We are advised Leasehold:

Original lease length: 15 years
Remaining lease length: 11½ years, as of November 2016
Rent: £50,000 per annum

HOURS
The business is open:

Monday - 3.00pm - 10.00pm
Tuesday - Thursday: 12.00pm - 11.00pm
Friday - Saturday: 12.00pm - 12.00am
Sunday: 12.00pm - 8.00pm

STAFF
The business is owner run and managed with 8 x staff members and 2 x directors.

FINANCIAL PROFILE
The business generates a turnover in the region of £449,000 per annum, with a gross profit of approximately 54%, as per the 2016 accounts.


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