An Exquisite 17th Century Traditional Village Inn For Sale

Business description

AN EXQUISITE 17TH CENTURY TRADITIONAL VILLAGE INN SITUATED IN THE AFFLUENT AND HIGHLY SOUGHT AFTER LOCATION OF NASSINGTON, NORTHAMPTONSHIRE




Prominent and attractive property in the affluent and sought after village of Nassington, Northamptonshire.
Traditional and Characterful Lounge Bar (40+) with a feature open fireplace and beamed ceiling, 2 Delightful Restaurants (circa 50+ covers in total).
Fully equipped Commercial Catering Kitchen.
Impressive 2/3 bedroom owner's accommodation.
50% wet and 50% food.
7 and a half years remaining on renewable Enterprise Inns lease.
Sales for Y/E March 07 circa £255,000 (incl. VAT).
Current sales consistent with 2007. Recon Profit circa £50,000.
Trading on reduced hours. Massive potential for fully committed 'hands-on' entrepreneurial partnership.


AN EXCEPTIONAL OPPORTUNITY TO PROCURE THIS TOP QUALITY WELL ESTABLISHED BUSINESS AND HOME WITH A WONDERFUL QUALITY OF LIFE IN THIS ENVIABLE LOCALE.


ASKING PRICE £49,950 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL EXCLUDING S.A.V.


LOCATION
This delightful 17th Century inn is situated in the beautiful unspoilt county of Northamptonshire. Being located in the heart of the village of Nassington this wonderful traditional inn can be easily reached from junction 17 of the A1(M).

Being close to Northampton and Cambridge with easy access to the A14, the A1, M11 and M1 makes this wonderful locale an extremely popular commuter area for the major motorways and the major international airports of Stanstead, Luton and Heathrow. The spectacular beauty of Northamptonshire attracts many visitors and tourists throughout the year and offers a wide range of activities including 2,500 miles of public rights of way, incorporating footpaths, bridleways, National Trails and plenty more. This charming and characterful inn is well used and has an excellent level of repeat trade. Situated in this affluent and highly sought after location and is well serviced by local schools, shops and amenities.

THE PROPERTY

This substantial traditional village inn built circa 1674 is an attractive and highly impressive detached 2-storey property of brick construction under a pitched, tiled and slate roof. Main entrance at front leading into the lobby with access to the Lounge Bar (circa 40+) is a good sized room exuding an authentic traditional and characterful ambience throughout. Having a feature return bar servery with a solid polished counter and a back fitting having a range of trade optics and refrigerated bottle coolers (not tested) which are complimented by a mix of loose polished tables, upholstered pew style seating, leather sofa’s and leather armchairs, upholstered chairs and upholstered bar stools. There is a feature stone built open fireplace (originally from Fotheringhay Castle), heavily exposed beamed ceiling, attractive exposed stone walling and an additional stone built open fireplace (currently unused) all of which add a warm and inviting aspect to the charm of this lounge bar. Access to the W.C's and Restaurant Areas.



Restaurant (circa 23 covers) having a laminate wood floor and beamed ceiling is a modern contemporary room with loose polished tables and leather upholstered chairs.

Family Dining Room (circa 30 covers) is a good sized bright and airy room having a warm and inviting ambience with a mix of loose polished tables and upholstered chairs. Access to the Family Beer Garden and Lounge Bar.

Ladies and Gents W.C's.

Ground Floor Cellar with delivery access, python, pumps, tilt racks and cooler.



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

OWNER'S ACCOMMODATION

Situated on the 1st floor and briefly comprises: 2/3 good sized bedrooms, good sized lounge, kitchenette and bathroom.

EXTERNAL

There is an enclosed Family Beer Garden with timber tables and chairs and a paved patio area, there is also stone built barbeque, a children's play area. There is also an additional enclosed lawned Adult Beer Garden with timber benches/seating and a covered designated smoker's area. Patron's car parking facilities with lined spaces for circa 34 cars. The Calor gas tank is in the car park. For the owners there is a private enclosed courtyard with a timber storage unit.

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:

Sun - Thurs - 11.00am - 11.00pm

Fri and Sat - 11.00am - Midnight

The current trading hours are as follows:

Mon - Thurs - Midday - 2.00pm and 6.00pm - 11.00pm

Fri and Sat - Midday - 2.00pm and 6.00pm - Midnight

Sunday - Midday - 3.00pm and 6.00pm - 9.00pm

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 services except mains gas, oil fired central heating and cooking by calor gas (no services seen or tested). The business is offered for sale as a lease assignment with approximately 7½ years remaining of the original Enterprise Inns 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 £27,000 per annum reviewed in November 2010.

THE BUSINESS

Our vendor client, in situ for the past 3 and a half years has operated this delightful traditional village inn on a full time basis with the assistance of 3 full time and 10 part time/casual members of staff. Due to personal family circumstances our vendor client has decided to sell this excellent business. This charming inn is a successful and profitable business with the current owner having established a solid trading foundation yet still offers a new enthusiastic owner operator partnership plenty of scope to increase upon the sales. Sales for Y/E March 07 circa £255,000 (incl. VAT). Reconstituted net profit (ie after adding back finance costs, depreciation and other expenses) of circa £50,000. Trade split is approximately 50% wet and 50% food. In our opinion there is massive potential to increase the sales by simply increasing the trading hours and would expect new fully focussed enthusiastic full time owner operators to achieve a turnover in excess of £300,000. 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

Contact the seller