6 bedroom pub for sale

Main Street, Egremont, Cumbria, CA22

£219,000

Property Description

Full description

Asking price includes:

Grade II Freehold Property circa 200-240,000
Current turnover circa 225,000 p.a.
Scope to expand into food
Superb high street location
Multiple revenue streams
Significant refurbishment programme during 2015/2016
Existing management/tenant in place to continue if required
Healthy local economy to support demand into the future
Goodwill
Business Profile

A rare opportunity has arisen to acquire this well-established and popular public house with letting accommodation located in the bustling market town of Egremont, Cumbria.

The business was originally established in 1789 and has been in our client s careful ownership since February 2015. The business is only being offered to the market due to our client s unfortunate health problems. The sale comprises the freehold property with estimated market value circa 200-240,000 and the business within it. The business operates 7 days per week and we are advised generates a turnover in the region of 225,000 per annum, with a gross profit of approximately 60%.

The turnover is derived from the free of tie public house, which offers a wide range of beers, lagers, spirits and soft drinks. Our client also offers 6 letting rooms, which are currently occupied on a short term basis by contractors working at Sellafield, which is only approximately 5 miles away.

The property has been maintained to a very high standard and all the letting rooms are decorated to a very high standard throughout. After our client purchased the property it was completely refurbished. The refurbishment programme finished in February 2016.

We are advised that the government recently announced that 2.5 billion will be invested in Sellafield Nuclear Station refurbishment, also a new nuclear power station will be built at the same time in the same area. Copeland Council has already started investing in new housing, a shopping centre and other additional services to the community. The project is estimated to last until the end of 2027. Therefore there has been a significant increase in property prices in the area. It is also expected that the local population will grow substantially during that time.

We have been advised that our client has been granted planning permission to convert the premises into three flats should a new owner wish to redevelop the site. Further details are available.

The business has built up an enviable reputation within the area for the high quality of the beer it serves and the letting rooms offered. This has resulted in a very loyal client base and a high volume of repeat trade and word of mouth recommendations. The pub is currently run by a manager who has a tenancy agreement in place with the vendor, renewed every 12 months. This manager is aware of the sale and is happy to remain should a new owner so require, or leave.

We feel the turnover could be increased by embarking on a modest marketing campaign to highlight the business and the services offered, along with the introduction of a food offering.

This is an excellent opportunity for a new owner with drive and ambition to take this busy business to the next level; therefore early viewing must come highly recommended to avoid disappointment. The property itself is a sound investment with development opportunities for the future.

Nearest stations

  • Nethertown (2.4 mi)
  • St. Bees (2.6 mi)
  • Braystones (3.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Owner Sellers Ltd, Uxbridge

2-4 High Road, Ickenham, Uxbridge, UB10 8LJ

03331 234562 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Nethertown (2.4 mi)
  • St. Bees (2.6 mi)
  • Braystones (3.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Owner Sellers Ltd, Uxbridge

2-4 High Road, Ickenham, Uxbridge, UB10 8LJ

03331 234562 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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