11 bedroom pub for sale

HERTFORDSHIRE

Sold STC £225,000

Property Description

Full description

Tenure: Leasehold

Ref 7983 LEASEHOLD

A HIGHLY IMPRESSIVE 19th CENTURY TRADITIONAL INN WITH 8 ENSUITE LETTING BEDROOMS SITUATED IN THE HIGHLY DESIRABLE AND AFFLUENT TOWN OF HEMEL HEMPSTEAD, HERTFORDSHIRE



Imposing and substantial inn situated in the prime location of Hemel Hempstead

Welcoming Lounge Bar (circa 40+), Multi-Functional Conservatory Restaurant (circa 30+ covers) and a Versatile Dining Room/Bar (circa 40 covers).

8 highly impressive ensuite Letting Bedrooms.

Good sized 3 Bedroomed Owner's Accommodation.

Equipped Commercial Catering Kitchen.

Advised turnover for March 2017 circa £530,000 (incl. VAT) with Reconstituted Net Profit of circa £100,000.

Trade split circa 90% wet sales and 10% accommodation sales. Franchised Kitchen on a verbal agreement. Undoubted potential for catering/functions orientated operators.

Greene King 'part tied' renewable lease.

AVAILABLE FOR THE 1st TIME IN 11 YEARS

A GOLDEN AND EXTREMELY RARE OPPORTUNITY TO PROCURE AN ESTABLISHED AND SUCCESSFUL LIFESTYLE BUSINESS OFFERING TREMENDOUS GROWTH POTENTIAL



LOCATION
This outstanding business is situated in the beautiful and unspoilt county of Hertfordshire, in the affluent and highly desirable location of Hemel Hempstead and can be easily reached from junction 8 of the M1 motorway. Being situated North West of London makes this beautiful location an excellent commuter area with easy access to the M4, M1, the M25 London Orbital, the M11 and A1(M) motorways and the major international airports of Luton, Stanstead, Heathrow and Gatwick. This charming and characterful inn is a well-used and popular venue with the area having mixed demographics offering solid local, destination, and commercial trade emanating from the surrounding and affluent catchment areas, and also having an excellent level of passing and repeat trade.
An enviable place to reside and a compelling trade opportunity.

THE PROPERTY
This substantial and impressive inn occupies an excellent prominent and easy accessible busy main road trading position.
Main entrances at the front leading into the lobby with access into the Public Bar and the Dining Room/Bar.

Public Bar (circa 40+) is a good sized welcoming room having a feature central return bar servery with a solid polished counter and a matching mirrored back fitting with trade optics and refrigerated bottle coolers (not tested). The room is well furnished with solid polished tables, upholstered chairs and upholstered bar chairs. There is also a feature fireplace with an inset electric fire, a games machine and 2x AWP's.

Conservatory Restaurant (circa 30+ covers) is a multi-functional room, being of a good size and is well furnished with solid polished tables, upholstered chairs and upholstered pew style seating. Access to the Beer Garden.

Dining Room/Bar (circa 40) is a versatile room in its usage and exudes a wonderful relaxing and comfortable ambience, having a return bar servery and is well furnished with solid polished tables, upholstered chairs and upholstered bar chairs. There is also an open fireplace (currently unused).

Catering facilities include an equipped commercial Kitchen with stainless steel appliances and preparation surfaces (appliances not tested). There is a Wash-up Area.

Lower Ground Floor Cellar with dray drop, pumps, pythons x2, post mix and cooler.

Ladies and Gents W.C.'s

Store Room and Office


LETTING ACCOMMODATION
Situated on the 1st floor, being of a good size and presented in good decorative order, briefly comprises: 8 ensuite bedrooms. All rooms have a T.V and tea/coffee making facilities.

OWNERS ACCOMMODATION
Situated on the 2nd floor, being of a good size and presented in good decorative order, briefly comprises: 3 bedrooms, lounge, kitchen and bathroom.

EXTERNAL
There is a good sized lawned Beer Garden (circa 100) at the rear with timber picnic benches. There is also a paved patio area with timber picnic benches and a covered designated smoking area. Patron's car parking facilities for circa 40 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 - Thurs 10.00 am - 12.30am
Friday & Saturday - 10.00am - 1.30am
Sunday 10.00 am - 12.00 Midnight

The current opening hours are as follows:

Sunday - Thurs 11.00am - 11.00pm
Friday & Saturday 11.00am -11.30pm

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.

GENERAL REMARKS
The business is offered for sale as a lease assignment with approximately 9 years remaining of the Greene King full repairing and insuring, renewable agreement. We are advised that the inn
is tied to draught, bottled beer and soft drinks only. We are informed that the rent is currently circa £44,000 per annum. 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 mains services and uses gas fired central heating (no services seen or tested). Business rates are advised as being circa £17633.83 per annum.

THE BUSINESS
Our vendor clients operate this excellent business as a 'husband and wife' team on a part time basis with the assistance of 4 full time and 4 part time members of staff. Trade is currently derived from circa 90% wet sales and 10% accommodation sales. Whilst emulating the current business model; there is still immense potential for a new full time hands-on owner operator partnership with previous experience of running a catering/functions/lettings orientated operation enabling them to take this business to the next level by exploiting the obvious food potential that is to be found here, due to the fact the Kitchen is currently franchised on a verbal agreement. There are many additional areas of potential to increase sales and profitability by implementing a strategic marketing campaign to utilise the premises for private parties, wakes and functions and also focussing on online booking agents to further promote the superb letting accommodation which would have an incredible positive impact on the turnover and profits. Advised turnover for YE March 2017 circa £530,000 (incl. VAT). This popular inn is a well-established and successful business and in our opinion with the above areas of potential we would quite easily expect fully
focussed and fully committed operators to achieve a turnover well in excess of £650,000 (incl. VAT).
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 on 01332-865112

Details prepared September 2017.

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)

Nearest stations

  • Hemel Hempstead (1.3 mi)
  • Apsley (1.6 mi)
  • Kings Langley (3.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds Business Transfers Limited , National Licensed Property

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448136 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

  • Hemel Hempstead (1.3 mi)
  • Apsley (1.6 mi)
  • Kings Langley (3.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Guy Simmonds Business Transfers Limited , National Licensed Property

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

01332 448136 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.

Disclaimer - Property reference 7983. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Guy Simmonds Business Transfers Limited , National Licensed Property. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.

Map data OpenStreetMap contributors.