Pub for sale

NOTTINGHAMSHIRE

£325,000

Property Description

Full description

Tenure: Freehold

REF:8036 FREEHOLD


UNIQUE AND HIGHLY DESIRABLE ICONIC LANDMARK FREEHOLD LICENSED BARGE CONVERSION/INN MOORED IN THE SHADOWS OF THE CASTLE WALLS IN THE HISTORIC NOTTINGHAMSHIRE TOWN OF NEWARK


Moored on the river Trent at the town wharf sitting in the shadows of the historic castle walls in the centre of the bustling Nottinghamshire market town of Newark.

Sun Deck (c24+ plus standing - max 60 occupancy) with River, Castle, Wharf and Bridge views.

Main Bar - Below Deck (c70+ plus standing - max 110 occupancy) with a feature central ships telegraph, Nautical bric-a-brac and original features.

Small but well-equipped commercial catering kitchen with 5* EHO rating.

Spacious colourful riverside garden area (c200+) with wooden benches and river, bridge and castle views.

Advised annual turnover of circa £500,000 (incl.VAT) to end 30th September 2018. Achieved on a trade split of 82% Wet sales & 18% Food sales and excellent reconstituted net profits.



A RARE OPPORTUNITY TO PURCHASE THIS CHARACTER ICONIC LANDMARK FREEHOLD BUSINESS AVAILABLE FOR THE FIRST TIME IN OVER 37 YEARS -
A GENUINE RETIREMENT SALE



LOCATION

This landmark freehold business is located in the centre of the historic Nottinghamshire town of Newark that is one of the main stops on the East Coast Main Line Railway route. Moored at the town wharf on the river Trent the business sits in the shadows of the historic castle walls. The River Trent runs directly through the town & it is a very popular area with visitors and tourists all year round with many visitor attractions that include Newark Castle & Newark air museum. Nearby points of interest include Southwell (7 miles) with its famous Minster and racecourse, the City of Lincoln (15 miles) with its historic Castle & Cathedral, the Vale of Belvoir (12 miles) and the popular City of Nottingham is only 17 miles away. The motorway networks are excellent and the A1 and A46 are only a few minutes' drive away.
THE PROPERTY
This converted barge/inn was formerly a Spillers grain barge plying its trade between Hull and Gainsborough. It was converted into a public house in 1980 and still to this day is an established part of the towns pub and restaurant scene. A main entrance to the front provides access to all the trading areas. These consist of:
Sun Deck (c24 plus standing - max 60 occupancy) is a light and bright room with a warm and welcoming atmosphere. The room has loose tables, leather upholstered chairs and scatter cushion covered upholstered perimeter bench seating. Fully carpeted and with a painted wooden ceiling there are opening windows that provide beautiful views of the river Trent, Newark Castle and Trent Bridge. Nautical themed bric-a-brac adorns the walls and there is a darts throw to one end. An attractive staircase leads downstairs to:
Main Bar - Below Deck (c70+ plus standing - max 110 occupancy) is an inviting room with a warm and vibrant atmosphere throughout. Loose tables, leather upholstered chairs, wooden bench pews, upholstered perimeter bench seating and high stools all sit on areas of oak and carpeted flooring. Nautical themed bric-a-brac and cask ale pump clips adorn the walls and there is a feature 'Ships Telegraph' positioned in the centre. To the 'stern end' which was formerly the bedroom in days gone by is a captain's style table with great views of the whole bar area and original features of the barge on show. There is a well-presented bar server of wood construction with 4 cask ales on offer, a coffee station, ornamental Flemish oven and an SWP & AWP.
There is a small but well-equipped commercial Catering Kitchen with stainless steel appliances and surfaces (equipment not tested) and 5* EHO rating. Separate fridge/freezer and storage areas.
Sun deck level Beer Cellar with python system, pumps and remote and additional storage space.

Ladies and Gents WC's.

CCTV & Wi-Fi throughout.

OWNER'S ACCOMMODATION

There is no owner's accommodation with this business and it is a lock up. Our vendor clients own a 1-bed ground floor flat & parking space within 200 yards of this business and are willing to rent or sell this property (available by separate negotiation).

EXTERNAL

To the front of the property is a spacious grassed and patio al fresco garden area (circa 200+) with wooden picnic benches and colourful baskets troughs and planters. Sitting directly in line with the historic castle to one side and the flowing river Trent to the other makes this an ideal place to sit, eat or drink and watch the world go by! Also to the front is a council owned pay and display car park with competitive pricing throughout the day and evening with c50+ lined parking spaces.

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 - Sat 11am to midnight
Sun 12noon to midnight

Current opening hours are
Mon - Sun 10.30am to midnight

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 are being offered for sale freehold (although we have not had sight of the title deeds). We are advised that mains services are connected (no services tested) and the business uses electricity throughout for cooking and heating purposes. Business rates payable are advised as being circa £17,091 per annum.

THE BUSINESS

The current owners have run this iconic business since 1980 initially as brewery tenants and then purchasing the freehold in 2010. Over the past 37 years they have offered quality food and drinks in fabulous comfortable surroundings to a loyal, repeat and desirable clientele. After many years within the industry our vendor clients are now looking to retire from the business in order to take life at a more leisurely pace. The business is currently operated by one of the owners assisted by a manager and circa 10-part time/casual members of staff. This well-known highly popular and profitable business sits at the centre of the local community in the town and has received excellent reviews on Trip Advisor and Google. The business not only plays host to a weekly quiz night, weekly Poker evening and a competitive darts team but also provides a highly popular stone baked pizza offer, regular happy hours and occasional live entertainment. We are advised that annual turnover was circa £500,000 (incl. vat) to year end 30th September 2018 achieved on a trade split of 82% wet sales and 18% food sales - the sales are up 17% on the first quarter this year. We calculate reconstituted net profits after adding back managers wages, depreciation and one-off costs to be in excess of c£100,000. New owners could continue to operate the business using the same highly successful formula or may wish to take the business to the next level. In our opinion this could be achieved by introducing a new food menu/offer and growing the food side of the business further.

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

The property was viewed by Richard Fletcher who would be delighted to discuss further details and can be contacted on 07527 718400.

Viewing appointments must be made via Guy Simmonds.

Details Prepared: January 2018

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.


Nearest stations

  • Newark Castle (0.2 mi)
  • Newark North Gate (0.5 mi)
  • Rolleston (3.8 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

  • Newark Castle (0.2 mi)
  • Newark North Gate (0.5 mi)
  • Rolleston (3.8 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 8036. 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.

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