Restaurant for sale

WARWICKSHIRE

£65,000

Property Description

Full description

Tenure: Leasehold

REF: 8380 LEASEHOLD

EXCELLENTLY POSITIONED 'FREE OF TIE' LEASEHOLD BAR, RESTAURANT OR COFFEE SHOP LOCATED IN THE SOUGHT-AFTER TOWN OF WARWICK, WARWICKSHIRE, CLOSE TO THE CASTLE

Superb location on Castle Street within the bustling town of Warwick, next to the Castle walls.

Lovely Ground Floor Bar & Restaurant (circa 40) offering bar server, beams and wood floors.

Excellent First Floor Dining Area (circa 32) ideal for parties, meetings and small functions and offering beams and wood floors.

Spacious Commercial Catering Kitchen.

Currently running as a restaurant but suitable for either Restaurant, Gin & Cocktail/Craft Beer Bar or Coffee Shop/Retail.

We are advised the turnover is currently circa £5,000 per week (incl. vat) on limited trading hours.

6 yrs remaining on a Renewable 'Free of Tie' Lease with a rent of only £24k per annum.


BEAUTIFULLY PRESENTED 'FREE OF TIE' TOWN CENTRE UNIT IDEAL FOR BAR, RESTAURANT OR COFFEE SHOP


LOCATION
This beautifully presented 'free of tie' Restaurant is excellently situated on Castle Street, next to the Castle Walls and in the heart of the town centre.
Warwick is the county town of Warwickshire. The town lies upon the River Avon, 11 miles south of Coventry and just west of Leamington Spa.
As of the 2011 census, Warwick had a population of over 25,000 residents.
This historic town attracts many visitors with its famous Warwick Castle, established in 1068 and the Racecourse.
Warwick School claims to be the oldest Boys School in the UK.
This thriving town is home to many companies due to its close proximity to north-south and east-west motorway routes.
The town centre has a good range of local and national shops and town is full of amenities for its residents.


THE PROPERTY

This lovely Restaurant & Bar is situated on Castle Street and is built from local stone construction under a pitched tiled roof and benefitting from a wonderful town centre location.

The Ground Floor Bar & Restaurant (circa 40 covers) is an excellent trading area that benefits from a large bar servery, a mix of wood and carpeted flooring, beamed ceilings and quality furnishings.

The First Floor Restaurant/Function Room (circa 32 covers) offers beams, wood flooring and two entrances. This room is ideal for small parties, meetings and functions.

All trading areas are presented very well and could be utilised for many uses including a bar, restaurant, coffee shop or retail.

Ladies & Gents W.C's.

There is a large Commercial Catering Kitchen with stainless steel appliances (not tested) and work surfaces.

The Lower Ground Floor Cellar benefits from coolers, python system and storage along with a lockable bottle store.

EXTERNAL
This business has no external trading areas.

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:

Sun - Thursday 10am - 11pm
Fri - Sat 10am - Midnight

Current opening hours are:

Monday Closed
Tues - Sun 5.30pm - 10.30pm


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 being offered for sale as a 'Free of Tie' lease assignment with approximately 6 years remaining of the full repairing, insuring and renewable agreement. We are advised that the business is free of tie for all products. We are informed that the rent is currently £24,000 with a rent review due in 2022. 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 & Tenancy Act 1954.
The property offers all mains services along with being heated with electric heating (no services tested). Business rates payable are advised as currently being £7,000 per annum.

THE BUSINESS
Our vendor client purchased the business in May 2016 and has continued its theme as a successful restaurant and bar albeit has changed the cuisine.
This superbly positioned business in the heart of the town and next to the castle walls has the scope for a variety of businesses.
New owner operators will benefit from an established business that offers further scope with longer opening hours and the opportunity to change the offering completely if required.
We are advised turnover for year ending 12/19 is approx. £5,000 per week (incl. vat) on a trade split of 75% food and 25% wet.

Viewing appointments must be made via Guy Simmonds.

Details prepared: March 2020.

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

  • Warwick (0.5 mi)
  • Warwick Parkway (1.1 mi)
  • Leamington Spa (2.2 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

  • Warwick (0.5 mi)
  • Warwick Parkway (1.1 mi)
  • Leamington Spa (2.2 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 8380. 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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