Harland Place, Stockton-On-Tees, Durham, TS20

Business For Sale: Red Lion, Harland Place, Norton, TS20 1AL



Description



The Red Lion is an established Free of Tie wet led public house, full of character, trading on very limited opening hours. The current owners have lovingly maintained and improved the building throughout the tenure which presents immaculately. This is a very rare opportunity to acquire such a turnkey asset.



Location

The Red Lion is in a very prominent position on the junction of Norton Road and Harland Place. The picturesque Norton Village sites within the borough of Stockton On Tees. The tree lined village is home to a wide range of amenities including independent cafes, restaurants, hair stylists, Tesco, bookmakers, bakers to name but a few.



Internal Details

The ground floor houses two bars both in meticulous order with male and female wc's. To the rear is a garden with covered areas and an outside serving hath complete with External TVs and heating. The ground floor also has a kitchen that is currently unused, with a little investment this could be utilised.



To the first floor is The Spanish Room, which is predominantly used for private functions, with its own bar and Wc's.



A very spacious 5-bedroom managers living accommodation is above all newly decorated with very high ceilings.



Fixture & Fittings

We have been advised that the majority of the fixture and fittings are owned outright and will be included in the sale subject to an inventory.



The Opportunity

The fully staff operated Red Lion although trading very well at over £505,000 per annum, on very limited hours has masses of potential to further develop sales. By opening more days as it currently only trades two days per week It currently only takes card payments, the introduction of cash payments would drive sales. The pub boasts18 TV's and would be an ideal location to show live sport, the introduction of food would further bolster trade by re-establishing the existing kitchen.



The property is leasehold and is held on a lease that expires 2034 at a rental of £66,400 per annum.



Trading Hours



Friday 6pm - 1am

Saturday 4pm - 1am



(The premise licence allows it to trade 7 days a week from 10am)



Business Rates



Current rateable value £49,500 as of April 2023. Confirmation of the actual business rates payable should be obtained from the local authority.





Business For Sale £175,000