Destination Food House, Pub & Hotel For Sale

Business description

A SUBSTANTIAL WELL BALANCED SUPERBLY PRESENTED HIGH TURNOVER FAMILY PUB AND RESIDENTIAL HOTEL CONVENIANTLY LOCATED OFF THE A1 AT St NEOTS CAMBRIDGESHIRE

Property Details

> Sales of above £ONE MILLION inc vat split 45% wet – 45% dry – 10% Guest Accommodation – potential profit yield of 20+%
> Not yet fully achieving optimum sales levels – more to be done inc extra bedrooms
> Conservatory dining area + informal dining lounges and snug (100+ covers + standing) with quality fittings and furnishings throughout – professional kitchens – 9 Luxury guest bedrooms
> 3 bed roomed owners accommodation – excellent local schools and amenities
> Secure front beer garden and rear patio used for imbibing and dining – parking for 60+
> Rare fully renewable popular local brewers lease of 15 year



PROSPEROUS VILLAGE LOCALE AND PROSPEROUS BUSINESS WITH ALL OF THE ‘WISH LIST’ TICKED OFF. OFFERED AT A MOST REALISTIC ASKING PRICE OF £249,500 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL PLUS S.A.V.



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LOCATION (PE19 7DB)
You will find this most exceptional business strategically located literally a stones throw (300 yards) from the busy GREAT NORTH ROAD (A1) on the outskirts of the popular wealthy market town of St NEOTS on the CAMBRIDGESHIRE – BEDFORDSHIRE boarders. The business sits unmissably on the junction of the B1048 CROSS HALL ROAD and B645 and the OLD GREAT NORTH ROAD. From the A1 on the 645 to St Neots & Higham Ferrers, the property lies within the village of EATON FORD which is a wealthy suburb of nearby St Neots and popular residential family locale. The strength of this locale provides a strong potential client base for the business to attract by transient business and more local clientele using its superb facilities.


PROPERTY DESCRIPTION
The property is completely detached and was originally a row of farm houses and cottages however you would be excused for believing that it is a former staging post on the Old Great North Road, however historically the farm was used by drovers on their way to market and in bygone days farms where used as stop off points providing food and liquid refreshments to travellers along with sanctuary for their live stock. Today this is a superbly presented business with a traditional frontage to the pub and a recently refurbished single tier extension used for the letting bedrooms. MAIN TRADING AREA, fitted to exacting high standards and kept immaculately with the capacity of circa 100 covers plus standing within an airy CONSERVATORY, INFORMAL DINING LOUNGE and SNUG AREA. The BARS & EATING areas have also recently been completely refurbished with a modern slant however retaining bags of charm and character, all extremely civilised and welcoming. TOILETS are very well presented and maintained to high standards. CATERING KITCHEN is professionally equipped providing excellent opportunities to expand the business. BEER CELLAR is fully chilled and there is further storage available. The whole of the public areas are disabled friendly.

GUEST LETTING ACCOMMODATION
9 superbly fitted luxury guest bedrooms within the “chalet style” extension provide a quality offering for passing trade and a super facility for those attending local weddings and events or just visiting the locale for a weekend break. All rooms have all “mod cons” including power showers, freeview T.V., and mini stereo’s. The Brewer / freeholder has indicated that it would enter into a “capex” programme with the lessee to provide extra guest accommodation if required (not conditional within sale and subject to PP’s)


OWNERS ACCOMMODATION
Our clients choose to live off premises however there is available owners accommodation by way of 3 bedrooms, lounge, bathroom & fitted kitchen.


EXTERNALS
Definitely “added” value to the business an attractive lawn beer garden to the front of the premises and to the rear a further patio used for outside dining and drinking. Car parking is available for 60+ vehicles.

PREMISES LICENSES
The premises license allows openings of 10am till 12 midnight all week and the business trades all these hours however the food offering is more restricted. A personal license will be required and our training associates can assist with this for you along with other licensed retail training inc BII courses

TENURE
We are instructed to offer this business as a LEASE ASSIGNMENT of 15 years commencing 2006 from popular local Bedford Brewer Charles Wells. The lease is fully protected under the Landlord & Tenant Act and fully renewable at no further cost at its end. Current rent payable is an affordable £90,000 (guest letting income more than covers this).

SERVICES
We are advised that the business benefits from connected mains, and central heating by GAS. Business rates payable are £16,000 p.a.

THE BUSINESS
Our clients have owned the business almost 2 years and find that they are victims of their own success and the business is far too busy for them to enjoy operating it, they also identify that there is much “untapped” business to hand which they are unable to exploit. Accounts to Y/E November 07 show in excess of £1,000,000 inc vat and is currently on a similar revenue pattern. Sales split is 45% Wet to 45% Dry with around 10% Guest lettings. The rent to sales ratio is in the acceptable 10% region which as previously stated is covered by guest letting income. The profit yield from sales for this type of business model should be in the region of 20% + i.e. £172,000 depending on the trading style and personal requirements of the operator. With further focus on the business opportunity which is obviously apparent, sales could rise by a further 25% and with the addition of further guest lettings a further £100,000 depending upon the size of the capex undertaken.


THIS IS A RARE OPPORTUNITY TO ACQUIRE A HIGHLY DESIRABLE HIGH TRADING BUSINESS WITHIN AN EXCEPTIONAL LOCALE ALONG WITH FURTHER GROWTH OPPORTUNITY– A MUST FOR EARLY VIEWING.

Property information

Property:

Leasehold