A Well Established Community Inn For Sale

Business description

A WELL ESTABLISHED COMMUNITY INN AVAILABLE FOR THE FIRST TIME IN 19 YEARS SITUATED IN THE BUSY UNIVERSITY TOWN OF LOUGHBOROUGH, LEICESTERSHIRE




Prominent and substantial premises located in the busy University town of Loughborough.
Traditional Lounge Bar (circa 50+), Atmospheric Public Bar (40+).
Impressive 3 bedroom owner's accommodation.
100% wet sales. Undoubted potential with an equipped kitchen.
5 years remaining on renewable Punch Taverns 'Partial Tie' lease.
Current sales circa £185,000 (incl.).
Busy community inn with massive potential for fully focussed hands-on owner operators.


A TRULY SUPERB OPPORTUNITY TO PURCHASE AN EXCELLENT BUSINESS AND HOME OFFERING A SOLID TRADING FOUNDATION AND MASSIVE POTENTIAL.


ASKING PRICE £39,500 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL EXCLUDING S.A.V.


LOCATION
This delightful inn is situated in the sought after and beautiful county of Leicestershire.

Being located in the heart of the busy university town of Loughborough this superb inn can be easily reached from junction 23 of the M1.

Being situated twixt Nottingham and Leicester and close to East Midlands airport with easy access to the M1, M42, M69 and M6 makes this bustling location an extremely popular commuter area for the major motorways and the major international airports of Birmingham, East Midlands, Luton and Heathrow. The inn is ideally situated to draw trade from Loughborough town centre with a thriving student trade and also attracts a desirable clientele emanating from the affluent nearby villages and larger catchment areas and has an excellent level of repeat trade and is well serviced by local schools, shops and amenities.

THE PROPERTY

Situated in the heart of this busy town this popular community inn is a substantial 2-storey property of brick construction under a pitched, tiled roof.



Main entrance at the front leading into the lobby with access into the Lounge Bar and into the Public Bar.

Lounge Bar (circa 50+) is a good sized traditional room having a feature return bar servery with a solid polished counter and a matching back fitting with a range of trade optics and refrigerated bottle coolers (not tested) which is complimented by the fixed upholstered perimeter seating with a mix of loose polished tables and mix of upholstered chairs and upholstered stools. Adding to the character of the bar area are the part panelled walls; the lovely part quarry tiled and part wooden flooring. There is a feature open fireplace adding to the warm and inviting ambience. There is also a pool table with lighting over, a darts throw, projector and screen, a digital juke box an AWP and 2 games machines. Access to the W.C's.



Public Bar (circa 40+) is a good sized atmospheric room having a central return bar servery with a solid polished counter and a matching back fitting with a range of trade optics and refrigerated bottle coolers (not tested) which is complimented by the fixed leather upholstered perimeter seating with loose polished tables and upholstered chairs and upholstered stools. Adding to the character of the bar area is the feature open fireplace and the quarry tiled floor. There is also an AWP and darts throw. Access to the W.C's.

Ladies and Gents W.C's.

Lower Ground Floor Cellar with dray drop, pumps, barrel thrall, tilt racks, python, cooler and Beer Piper line cleaner.

Catering facilities include a compact equipped Kitchen with stainless steel appliances and preparation surfaces (appliances not tested).

OWNER'S ACCOMMODATION

Situated on the 1st floor and briefly comprises: 3 bedrooms, good sized lounge, good sized kitchen, terrace, bathroom and separate W.C.

EXTERNAL

Enclosed private courtyard area at the rear.

TRADING AND LICENSING

We are advised that the inn trades with the benefit of a Premises Licence (not seen) which permits the sale of alcohol during the hours of:

Monday - Wednesday - 10.00am - 11.00pm

Thursday - Saturday - 10.00am - Midnight

Sunday - 10.00am - 11.30pm

The current trading hours are as follows:

Monday - Saturday - 11.30am - 11.00pm

Sunday - Midday - 10.30pm

NB Important: Prospective purchasers should ensure that they gain the NCPLH Qualification in readiness for their intended operation of licensed premises. Guy Simmonds hold this 1 Day NCPLH Course every 2 weeks. Please telephone us to reserve your place or browse the training section of this site.

GENERAL REMARKS

We are advised that the inn benefits from all mains services and uses gas central heating (no services seen or tested). The business is offered for sale as a lease assignment with approximately 5 years remaining of the original Punch Taverns full repairing and insuring, renewable agreement. 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 and Tenant Act 1954. Business rates payable are to be advised. Rent is currently £39,000 per annum reviewed in 2012.

THE BUSINESS

Our vendor clients, in situ for the past 19 years, has successfully operated this popular and well established community inn as a husband and wife team on a full time basis with the assistance of 7 part time members of staff. After approximately 27 years in the trade our vendor clients are now looking to retire in order to take life at a more leisurely pace.

This superb inn is a successful business with the current owners having established a solid trading foundation yet still offers plenty of scope to increase upon the sales by simply introducing food; taking the business to even greater heights. Trade is derived from 100% wet sales.

Current sales circa £185,000 (incl.). In our opinion there is massive potential to increase the sales and would expect new fully focussed enthusiastic full time owner operators to achieve a turnover in excess of £225,000.

The asking price reflects the location and quality of fixtures and fittings.

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

Property information

Property:

Leasehold