A Striking 17th Century Coaching Inn Freehouse For Sale

Business description

A WONDERFUL OPPORTUNITY TO ACQUIRE A STRIKING 17th CENTURY COACHING INN FREEHOUSE BUSINESS ON THE OUTSKIRTS OF CLITHEROE IN AFFLUENT NORTH WEST LANCASHIRE.

> Turnover for the year ended 2008 £235,000 Inc V.A.T split 70% Wet to 30% Dry. With reconstituted net operating profits forecasted of £50,000 circa plus barrelage discounts on 191 barrels per annum
> Three en-suite letting bedrooms with possibility of adding more
> Locals bar (20), lounge bar (20), coffee lounge (12), Restaurant (50), games room (30) large patio area (30) and fantastic children’s play area and equipment
> Large owners flat with independent access and four bedrooms one en-suite
> Extensive refurbishment carried out to a high standard
> New 10 year free of tie lease fully landlord and tenant protected with Private landlord. – A FREEHOUSE


THIS IS A GREAT OPPORTUNITY TO ACQUIRE A SUPERB NEW FREE OF TIE LEASE WITH LETTING ROOMS WITH A STRONG TRADE AND GOOD BARRALAGE. TO BE OFFERED BY WAY OF A NEW 10 YEAR FREE OF TIE LEASE AT £45,000 TO INCLUDE FIXTURES AND FITTINGS, GOODWILL PLUS S.A.V.

“Back page”
LOCATION (BB7 4JY)
Sited on the A59 Clitheroe road the Pendle Hotel has a commanding position and benefits from both passing and local trade. This trans pennine route is one of the busiest with business users traveling to Preston and the business centers of north Lancashire. The local trade is very healthy indeed with the centre of Clitheroe being 2 miles away and the immediate area consisting of private housing of a mixed demographic ideal for an operation such as this. At weekends the area has a high number of visitors for tourism with walking on the surrounding fells being increasingly popular and so many points of interest in the surrounding dales.




PROPERTY DESCRIPTION
The property dates back to the 17th century and was purpose built as a coaching Inn; it is a most striking building with attractive bay windows and high-pitched roof elevations. Built of local limestone under a slate roof the building is constructed over four stories putting the natural stone bedrock to good use, the ground floor or basement consists of stables and an extraordinary array of rooms and stores - some with external windows and access to the rear of the building. The main trading floor accessed from the car park and main road comprises of the main or locals bar (20) being partially wood clad and varnished, the lounge bar (20) with large feature fire place, the dining room or restaurant (50) which is a 1920’s addition and is most charming in character. A games room (30) with pool table and bay window with French doors onto the external patio. There are both ladies and gents w.c.’s adjacent to the restaurant. The catering kitchen has been fully updated and is suitable for the level of trade being targeted it also has an external store and freezer space. On the first and second floors are the letting bedrooms, 3 in number and all en-suite, however the development of further rooms is possible in the basement area looking out to the rear of the premises.



OWNERS ACCOMMODATION
The owner’s accommodation comprises of a very large dining kitchen, four large double bedrooms (one of which is en-suite), a family bathroom, office and sitting room.



EXTERNALS
There are substantial external areas all of which are in excellent order, adjacent to the front of the property is an area for 2/3 picnic tables ideal for smokers, in a fenced area to the side of the building and next to the car park is a fenced area part flagged and part put to grass with picnic tables and seating up to (30) which in turn leads to the brilliant children’s play area to the rear of the building which is fenced in and is of some considerable size and attracts many families.



PREMISES LICENSES
The premises currently open for business from 9am until 12 midnight Sunday through to Wednesday and 9am until 1am Thursday through to Saturday. A personal licence will be required and our training associates would be only too pleased to assist in this matter.



TENURE
We are instructed by our clients to offer the business for sale by way of a new 10 year fully landlord and tenant protected free of tie lease at an initial stepped rent being year one at £30,000 per annum going to £35,000 per annum year two.



SERVICES
We are advised that the pub benefits from all main services electric, water, mains sewage and the cooking is done with gas, as is the central heating. The business rates are £2,900 per annum.



THE BUSINESS
Our clients have invested heavily in the business following it’s purchase and have re established the trade and fully expect the trade levels to be in the region of £235,000 for this current financial year on a split of 70% Wet to 30% Dry, with further increases realistically expected over the next two years (bedroom income not included within this years sales. We have estimated the F.M.T. turnover to be in excess of £350,000 with operating profits of circa £50,000 pre beer discounts which should be substantial with M.A.T. In the region of 200 barrels for the year. With the possibility of more bedrooms, this makes for a very attractive proposition indeed when compared with the rest of the market. There is a growing demand for functions and together with the folk night bands and associations such as classic cars and bikes, walkers and families. The limit on trade will be set by the amount of effort put in by the lessee.


AN EARLY VIEWING OF THIS PROPERTY IS ESSENTIAL TO ENABLE THE FABULOUS OPPORTUNITY WAITING TO BE FULLY APRECIATED.

Property information

Property:

Leasehold