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4 bedroom pub for sale

ESSEX

Sold STC £115,000

Property Description

Full description

Tenure: Leasehold

REF: 7942 LEASEHOLD

17th CENTURY UNOPPOSED COUNTRY INN FOR SALE OFFERED ON A NEW 20 YEAR PRIVATE 'FREE OF TIE' LEASE, LOCATED IN THE QUINTESSENTIAL VILLAGE OF CORNISH HALL END, FINCHINGFIELD, ESSEX


Attractive and substantial property situated in the beautiful and highly desirable prime location of Cornish Hall End.

Welcoming and traditional Lounge Bar (circa 40) and a versatile and multi-functional Restaurant (circa 50+ covers).

Well-equipped Commercial Catering Kitchen.

Lovingly restored, refurbished and modernised throughout with no expense spared.

Highly impressive 4 Bedroom Family Accommodation.

Good sized Beer Garden and Patrons' Car Park.

Advised turnover for YE March 2016 circa 400,000 (incl. VAT). Current sales consistent with 2016.

Trade split circa 35% wet and 65% food sales.

NEW 20 YEAR PRIVATE FREE OF TIE RENEWABLE LEASE.

AN OUTSTANDING OPPORTUNITY TO PROCURE A SOLID BUSINESS AND FAMILY HOME WITH AN EXTREMELY WELL ESTABLISHED AND PROFITABLE TRADING FOUNDATION OFFERING TREMENDOUS GROWTH POTENTIAL

LOCATION
This delightful English country inn is located within the highly desirable village of Cornish Hall End, near Finchingfield, and can be easily reached from junction 8 or 9 of the M11 motorway. Situated within the commuter belt being approximately ONLY 40 miles from London and also having excellent road communications provides easy access to the M25, A1(M), A120 and the M1 motorways makes this superb location an extremely popular commuter area for the major international airports of Stansted, Heathrow and Gatwick. Cornish Hall End is also within the catchment area of many similar affluent villages and towns in addition to being situated close to Finchingfield, Thaxted, Great Dunmow and Braintree making this superb inn ideally positioned to draw trade from Cornish Hall End itself and also the nearby surrounding towns and villages which provide an excellent level of repeat trade. An enviable place to reside and a compelling trade opportunity.

THE PROPERTY
There are two main entrances at the front leading into the Restaurant and the Lounge Bar.

Lounge Bar (circa 40) being L-shaped is a lovely traditional room exuding a cosy and welcoming ambience having a feature central return bar servery with a solid polished counter and a matching back fitting with trade optics and refrigerated bottle coolers (not tested). The room is well furnished with an eclectic range of solid polished tables, upholstered chairs, a comfortable upholstered sofa and upholstered armchairs. Adding to the character of the room are the feature brick built open fireplace, the log burner fireplace and the exposed beamed ceiling. Access to the W.C's and the Restaurant.

Restaurant (circa 50 covers) is a good sized versatile and multi-functional room ideal for a variety of events including weddings, wakes and private parties etc offering an inviting and relaxing dining atmosphere and is extremely well furnished with a range of solid polished tables and upholstered chairs. There is also a portable commercial Carvery and adding to the delightful charm of the restaurant is the brick built log burner fireplace and the exposed beamed ceiling and beamed walls. Access to the W.C's.

Catering facilities include a well-equipped Commercial Kitchen with stainless steel appliances and preparation surfaces (appliances not tested). There is also a Wash-up area and a dry goods store.

Ground Floor Cellar with delivery access, pumps, python, tilt racks and cooler.

Ladies and Gents W.C.s x 2 sets

OWNER'S ACCOMMODATION
Situated on the ground and 1st floors, being presented in excellent decorative order and offering very good sized rooms briefly comprises: 4 bedrooms, lounge, office, conservatory and shower room.

EXTERNAL
There is a good sized enclosed lawned Beer Garden (circa 100) being furnished with a good range of timber picnic benches. Patron's Car Park for circa 20+ cars. There is also a very good sized enclosed private garden being mainly laid to lawn, with a paved patio area and 2 timber sheds. N.B. Agents Note: There is also a local village green adjacent to the inn which is also available for use for a variety of events.

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:

Sunday - Thursday - 10.00am - Midnight
Friday & Saturday - 10.00am - 01.00am

The current opening hours are as follows:

Monday - CLOSED
Tuesday - Sunday - Midday - 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 property and business is being offered for sale as a new highly favourable 20 year Private FRI Lease Agreement as follows:
1. The asking premium will be 115,000.
2. The initial annual rent will be 45,000
3. The annual rental is simply RPI linked to inflation with rent reviews every 5 years.
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 with the exception of propane gas for cooking and uses oil fired heating (services not tested). Business rates payable are advised as being approximately ONLY 3,197 per annum.

THE BUSINESS
Our vendor clients operate this successful business as a 'husband and wife' team on a full time basis with the assistance of 2 full time and 5 part time staff. Trade is currently derived from circa 35% wet and 65% food sales. Whilst emulating the current successful business model; there is still immense potential for a new full time hands-on owner operator partnership with previous experience of running a catering/events orientated operation to take this business to the next level by exploiting the food and functions potential that is to be found here. There are many additional areas of potential to increase sales and profitability by implementing a strategic marketing campaign to utilise the premises for weddings, private parties, wakes and functions etc. Advised turnover for YE March 2016 was circa 400,000 (incl. VAT). Current sales are consistent with 2016.
This delightful inn is an extremely well-established and successful business and in our opinion with the above areas of potential we would quite easily expect a fully focussed and fully committed operator to achieve a turnover well in excess of 500,000 (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.

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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