8 bedroom pub for sale

NORFOLK

Sold STC £49,500

Property Description

Full description

Tenure: Leasehold

REF: 8152 LEASEHOLD


HIGHLY DESIRABLE FREE OF TIE INN, RESTAURANT AND FISHERY WITH LETTING ROOMS IN A SUPERB MAIN ROAD LOCATION IN THE AFFLUENT VILLAGE OF LENWADE, RURAL NORFOLK


Truly stunning 11 acre Fishery with lakes and grassland.
Impressive western themed Bar (circa 20).
Separate stylish Restaurant with feature brick fireplace (circa 30).
Four letting bedrooms.
Spacious 4 bedroom Owners' Accommodation.
Fully equipped Commercial Kitchen.
Extensive enclosed family Garden and Patio Area.
Patron's Car Park.
Advised turnover circa £304,000 (inc. VAT) for year ending January 2018.
Advised trade split circa 50% wet, 40% food, 10% accom.
Renewable free of tie lease.


A VERY RARE OPPORTUNITY TO ACQUIRE THIS UNIQUE AND OUTSTANDING BUSINESS WITH MASSIVE GROWTH POTENTIAL IN AN ENVIABLE LOCATION


LOCATION


This well-appointed traditional freehouse with its most impressive and breath-taking fishing lakes and grasslands is in a truly enviable main road location in the sought after and affluent village of Lenwade in the Wensum Valley and can be found on the Fakenham Road (A1067) between Norwich and Fakenham in rural Norfolk. Lenwade is a popular Norfolk village offering local amenities such as a general store, café, fish & chip shop, primary school, doctors etc. and is also home to local tourist attractions including The Old Water Mill dating back to the 19th century (now converted into homes), Roarr! Dinosaur Adventure Theme Park which is hugely popular with families and Lenwade Country House famous for its zoological garden. The large market town of Fakenham, with its racecourse, is only 14 miles away and the bustling and vibrant City of Norwich with its many shops, cafes and leisure facilities is also in close proximity being 11 miles away.


THE PROPERTY

Eye catching three storey building of brick construction under a pitched tiled roof set in extensive grounds of 11 acres incorporating two fishing lakes and surrounding grasslands which lead to the Marriots Way Heritage Trail.

Bar (circa 20) Western themed, completely refurbished in 2015, with wood effect flooring, wood panelling, wooden pew style benches with matching solid wood tables, authentic brick fireplace with multi-burner, fully equipped bar servery with bottle fridges and a full range of spirits etc. and has a welcoming atmosphere.

Restaurant (circa 30) which is separate to the bar is of a bistro style with feature brick fireplace with multi-burner, half panelled walls, part tiled and part carpeted floor and is furnished with high back chairs and matching solid wooden tables.

Ladies & Gents w.c's

Cellar at ground floor level, well maintained and incorporates spirits/bottle store.

Catering facilities include a fully equipped commercial kitchen with stainless steel surfaces, extractor system, 6 ring range cooker, pizza oven, fat fryers and microwaves etc. (appliances not tested). Wash up and prep area.


LETTING ACCOMMODATION

Located on the first floor comprises of 2 double and two family rooms with communal bathroom and w.c.


OWNERS ACCOMMODATION

Located on the first and second floors is spacious with 4 double bedrooms, family bathroom and lounge.
It should be noted that some refurbishment is needed to the letting accommodation and to the owner's accommodation with the possibility of converting the letting bedrooms to en-suite.


EXTERNAL

To the front of the property is an enclosed patio with trellis and picnic benches and large patron's car park and to the side there is an extensive family garden laid to grass with a large paved patio area with picnic benches overlooking the lakes. There is also a private yard containing out-buildings which are currently being used for storage.


FISHERY AND LAKES

This is a tranquil and breath-taking area of approximately 11 acres consisting of two fishing lakes containing Carp up to over 301b, also Tench, Bream and Pike with surrounding grasslands and is immensely popular with anglers from all over the country often staying for long weekends and fishing etc. This well-run fishery is also very popular with the local anglers. The fishery and lakes are currently rented out on a gentleman's agreement whereupon the maintenance, upkeep and general running of the fishery are all taken care of by the fishery managers. The rent is currently £12,000 p.a.


BOWLS GREEN

The local bowls club have the use of this area on the proviso that they keep it well maintained.


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 02.00am
Sun 12noon to 22.30pm
(including outside bar)

Current opening hours are:

As permitted

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 10 years remaining of the Wellington Pub (now Criterion Asset Management) full repairing and insuring renewable agreement. We are advised that the inn is free of tie. We are informed that the rent is currently £40,681 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 mains services with LPG calor gas for cooking and heating (no services seen or tested). Business rates payable are advised as currently being circa £11,400 per annum.


THE BUSINESS

Our vendor client took over the business in 2013 and it has been run under a successful management team who have built up a loyal and regular wet trade from the local community and surrounding areas and have also earnt a good reputation for good quality home cooked food and hospitality. The business also hosts local clubs such as the Bowls Club, Birds of Prey Club and CAMRA Real Ale Club. Due to its superb location the establishment also enjoys a good level of passing trade from tourists and holiday makers as it is on one of the major routes to the popular North Norfolk Coast. It also benefits from the Dinosaur Adventure Park which is nearby and is popular with families. It should be noted that the new royal Norfolk Golf Course, which is a mile away, is due to open in 2019. However the major benefit of this establishment is the truly outstanding fishery and lakes which attracts amateur and professional anglers which not only use the bar and restaurant but also the bed and breakfast facilities.
The business is currently being run by a management team, 1 full-time chef, full-time commis chef and 3 part-time staff. Due to other business interests our vendor client has decided to sell the business.
We are advised that turnover for year ending January 2018 is £304,000 inclusive of VAT. Split circa 50% wet, 40% food, 10% accom.
There is massive growth potential to take this business to the next level by continuing to rent out the fishery, refurbishing the letting rooms and converting them to en-suite to attract more B&B trade and by utilising the excellent outdoor facilities for festivals and family events.

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

This business was viewed by Geoff Bryan who would be delighted to discuss further details and can be contacted on 07887 571720.

Viewing appointments must be made by contacting Guy Simmonds.

Details Prepared: October 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)

Nearest station

  • Norwich (10.6 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 station

  • Norwich (10.6 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 8152. 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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