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6 bedroom pub for sale

LINCOLNSHIRE

Sold STC £390,000

Property Description

Full description

Tenure: Freehold

Ref 8119 FREEHOLD

HIGHLY DESIRABLE UNOPPOSED & PROFITABLE COUNTRY INN & LETTING ROOMS BEING OFFERED EITHER FREEHOLD OR 'FREE OF TIE' LEASE LOCATED IN THE AFFLUENT LINCOLNSHIRE VILLAGE OF SKILLINGTON

• Highly affluent picture-postcard Lincolnshire village only 2 miles from the A1 and close to the
Vale of Belvoir, Rutland water & Grantham.
• Bar area (circa 20+ plus standing) with exposed stone
built fireplace, open coal fire, solid oak floor and
4 cask ales on offer.
• Restaurant (c35 covers) with cloth covered tables,
exposed wooden ceiling beams & stunning village
views.
• 3 delightful and comfortable en-suite letting rooms
with high open ceilings and exposed wooden beams.
• 2 x Al Fresco garden areas (c28+ covers) surrounded
by village views and colourful plants and baskets.
• Fully equipped commercial catering kitchen with 5* EHO rating.
• 3 Bedroom Owner's accommodation.
• Turnover to 30th June 2017 of c£169,259 (incl.VAT) on a trade split of 48% Wet sales ; 40%
Food sales ; 7% Accommodation; 5% Other.

A FABULOUS OPPORTUNITY TO ACQUIRE A STUNNING PROFITABLE FREEHOLD INN OR 'FREE OF TIE' LEASE AVAILABLE FOR THE FIRST TIME IN 27 YEARS.

LOCATION
This characterful and impressive award-winning inn is located adjacent to the beautiful grassed square in the heart of the picture-postcard Lincolnshire village of Skillington. The village has only an 11th Century Grade I listed church and a village hall however is surrounded by other highly affluent villages with shops, schools and amenities only a few miles away. The village sits 3 miles from the Leicestershire border, 6 miles from the famous market town of Grantham and only a stone's throw from the fabulous Vale of Belvoir with its famous Castle and grounds. Burghley House (famous for its horse trials) and Grimsthorpe Castle and grounds are also close by. Other nearby places of interest include the small but stunning county of Rutland with the tourist attraction water and nature reserve (18 miles) and the historic towns of Stamford (17 miles), Oakham (25 miles) and Melton (12 miles) are also close by. The neighbouring village is Stoke Rochford with its highly popular golf course (3 miles) and Nottingham and Loughborough both with sought after universities are also within easy reach. The A1 motorway is only 2 miles away.

THE PROPERTY
This two-storey village inn was built in the 1800's and stands prominently in the heart of the village. The property is of stone construction and sits under a pitched slate roof. Entrances to the front and rear provide access to the open plan L-shaped trading areas. These are licensed for 100 people and consist of:
Bar area (circa 20+ plus standing) is a vibrant well-presented room with a warm and welcoming atmosphere. Loose tables, chairs and upholstered perimeter bench pews all sit on an attractive solid oak floor complimented by an exposed stone-built fireplace and open coal fire. The room also has a corner return bar server of wood construction with ceramic tile trim and 4 cask ales on offer. This leads through to:
Restaurant (c35 covers) has a lovely relaxed atmosphere with cloth covered tables and loose chairs all sitting on a fully carpeted floor beneath exposed wooden beams to the ceiling. There is a portable flambé table for those desiring that little something an extra bit special and stunning all rounds views of the village.
There is a fully equipped commercial Catering Kitchen with stainless steel appliances and surfaces (equipment not tested) and 5* EHO rating. There is a separate fridge/freezer and dry goods storage area leading off. Below ground floor Beer Cellar with python system, remote and pumps etc.

Ladies, Gents & disabled WC's. / Laundry room.

OWNER'S ACCOMMODATION
The owner's accommodation is situated on the 1st floor and briefly consists of: 3 Doubles bedrooms, a large lounge, bathroom and storage cupboard.

LETTING ACCOMMODATION
Situated in a separate stand-alone stone-built cottage to the rear of the property are 3 highly delightful and immaculate en-suite letting rooms (1 double / 2 twin interchangeable rooms - one with disabled facilities and wet room). All rooms have high open ceilings with exposed wooden beams, tea/coffee making facilities, HDTV, Wi-Fi and hairdryer etc. They are all AA Gold 3* rated. There is also a 4th room that could easily be converted to a further letting room (STPP).

EXTERNAL
To the front of the property is a small gravel garden area with wooden picnic benches (circa 12 covers) colourful baskets, planters and established shrubs with a smoking solution to one side. To the rear of the property is a colourful slabbed al fresco patio area with wooden benches (circa 16) surrounded by planters, baskets and troughs. Both areas have uninterrupted views of this stunning village. Also to the rear is the patron's gravel car park with spaces for circa 10 cars however on street parking is readily available throughout the village.

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 - Sun 11am to 1am

Current opening hours are:
Monday Closed
Tues - Sat 12noon to 2pm
Tues - Sat 6pm to 11pm
Sunday 12noon to 8pm

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 freehold (although we have not had sight of the title deeds) or as a new highly favourable 10-year Private FRI Lease Agreement as follows:

1. The asking premium will be £49,995.
2. The initial annual rent will be £22,000.
3. The annual rental is simply RPI linked to
inflation every 3 years, hence no rent reviews.
4. Rent payable monthly or 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 property uses Propane gas for cooking and heating with all other available mains services connected (no services tested). Business rates payable are advised as being NIL per annum.

THE BUSINESS
The current owners purchased the freehold business in 1991 and over the years have developed the property and built an excellent reputation. Now a popular inn offering high quality locally sourced food, comfortable accommodation and quality ales and wines to a loyal, repeat and desirable clientele. The business is currently operated by the owner's themselves assisted by c2 part time/casual members of staff. After many years within the hospitality industry our vendor clients are now looking to retire from the business in order to be able to take life at a more leisurely pace. The business sits at the centre of the local community and plays host to many charity events. A previous award winner of CAMRA POTY and having received a Trip Advisor Certificate of excellence and exemplary comments make this property and business even more attractive. We are advised that accounts to 30th June 2017 show a turnover of c£169,259 (inc VAT) on a trade split of 48% Wet; 40% Food; 7% Accommodation; 5% other. We calculate reconstituted net profits after adding back personal and one-off costs to be in excess of £52,000. New owners could continue to operate the business using the same successful formula or may wish to take the business to the next level. In our opinion this could be achieved by extending the opening hours, exploring the opportunity to create a 4th letting room (STPP) or even re-arranging the internal trading layout to create a more comfortable drinking and dining approach.

For further info: www.thecross-swordsinn.co.uk

This business would suit an enthusiastic owner/operator couple who have previous experience of working in a similar hospitality environment however this is not essential.

Accounting information will be made available to interested parties after viewing. This business 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 by contacting Guy Simmonds.
Details prepared July 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.




Energy Performance Certificates (EPCs)

Map & Street View

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