Exceptional Well Presented Highly Profitable Warwickshire Pub Restaurant For Sale

Business description

HIGHLY REGARDED WARWICKSHIRE “GOLD STANDARD” PUB & RESTAURANT LOCATED WITHIN MARKET TOWN OF SOUTHAM RENOWNED AS AN AREA OF SUSTAINABLE PROSPERITY & HISTORIC SIGNIFICANCE


> Sales of circa £600,000 inc vat Split 75% Wet to 25% Dry 52% GP
> Favoured locals “watering hole” lounge bar (40+) “A” framed tavern style restaurant (40c)
> Attractive Terraced patio and beer garden – secure parking (32)
> Beautiful picture postcard ancient market town at Heart of Shakespeare’s England attracting hordes of tourists and as an affluent family residential locale
> Superb 3 bed roomed owners accommodation + private garden
> Protected renewable lease, no repairing liability, Beer discounts FOT Wines/ Spirits

ENJOY THE FINANCIAL AND LIFESTYLE REWARDS OF THIS EXCEPTIONALLY PROFITABLE BUSINESS ASKING PRICE OF £115,000 PART TIED LEASE ASSIGNMENT TO INCLUDE FIXTURES AND FITTINGS, GOODWILL PLUS S.A.V.

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LOCATION (CV47 0ET)

Southam is a small market town situated in the Stratford-upon-Avon district of Warwickshire where the A423 Coventry to Banbury road converges with the A426 from Rugby and crosses the A425 Daventry to Leamington Spa road.
The town had a population of approximately 7,500 and has seen significant development in recent years. It retains a range of shops, banks, local services and facilities including three primary schools, a secondary school, children's centre, leisure centre, library, medical centre, police station and post office. In addition the town hosts a market each Tuesday and a farmers market on the second Saturday of every month. The town centre has been designated as a conservation area whereby developments and changes of use should respect the special qualities and historic context of the area in terms of design and materials. The valley of the River Stowe from the town centre to the Holy Well has been designated as an area of restraint, which confirms its value as open space within the natural environment. There are transport links which connect the town with Leamington Spa, the nearest town approximately eight miles away, Rugby, Coventry, Stratford-upon-Avon and nearby villages. Southam serves as a local centre for the villages around it, including Long Itchington, Stockton Napton, Ladbroke, Bishops Itchington, Harbury and Ufton. The town centre and conservation area has, by its very nature, many landmarks in the form of listed buildings such as the Manor House (the subject of a remarkable renovation programme) and St James Church (grade one listed and of exceptional interest). This pleasing historic market town has many community based events such as the Mop Fair, May Day Fare and an annual carnival which attracts visitors from far and wide. The business sits fronting Coventry Street.
What the customers have to say…………….
“I have to say I like this place. Beer is served very well. Who ever looks after the cellar knows what they are doing. 3 Ales on my visit including St Austell Tribute, Courage Directors and Bombardier. Also has the usual lagers and ciders but does serve Amstel. Also has a wide list of spirits and wines. I have eaten here before but not on this visit but from my past eating experiences I will very much recommend this place “




PROPERTY DESCRIPTION
The 1700’s former “posting inn” is detached and of brick and stone construction under steep pitched tiled roofs. Internally the pub bedecked with traditional English Pub bric a brac and artefacts and has a mix of hard floor finishes and carpeting. LOUNGE BAR (40+) is open plan with a mix of fixed seating, tables, chairs and stools with one end set aside for pub games and displays its team trophies. Its low ceiling is partially beamed providing a warm welcoming traditional atmosphere. CENTRAL BAR SERVERY has high stools set against it and a highly polished brass foot rail. Constructed of light polished timber it has a polished wood counter top and useful merchandising back fitting. A range of REAL ALE WICKETS and Bright Beer pumps sit on the counter. SEPERATE RESTAURANT (50c) has an impressive “A” framed beamed ceiling and feature exposed brick fireplace. A portable carvery is used during Sunday service. BEER CELLAR is to the ground floor and temperature controlled. CATERING KITCHEN has been professionally designed and equipped to a high working standard. FACILITIES include well presented Ladies and Gent Toilets.



OWNERS ACCOMMODATION
Well presented and maintained living spaces include 3 double bedrooms, Large family kitchen with built in units, modern family bathroom, and generous private lounge. there is plenty of storage and unusually a private garden with timber decking.

EXTERNALS
The business benefits from its own parking (32) a “terrace style” patio, smoking shelter and further grassed beer garden. Further storage areas are provided as dry stores and for refrigeration.


PREMISES LICENSES
We are advised that the business has a Premises licence that allows opening of 11am through to 12midnight Monday to Wednesday 11am till 2am Friday & Saturday and 12 till 12 Sunday. Currently the business opens at 11am and closes any time before the permitted hours. A Personal License will be required and our training associates can assist with this for you.

TENURE
We are instructed to offer the property and business for sale as a lease assignment of a rare 3+3 “rolling” lease from S & N. The lease is fully protected under the landlord and Tenant Act therefore automatically renewable under no less favourable conditions at the end of each period at no further cost or premium. Rent is £44,000 p.a. (6.9% rent to net sales) plus a “franchise” fee payable as a % of sales which is set against other costs such as accounting. The business is Free of Tie for Wines and Spirits and discounts of £50 per barrel are passed onto the lessee. Unusually there are no major property repair responsibilities within the lease, virtually internals only.

SERVICES
We are advised that the pub benefits from mains water, electric, gas and sewage ant the property has full gas central heating. Rates payable of £15,750 p.a.

THE BUSINESS
Current sales are running to £600,000 inc vat on a split of 75% wet to 25% Dry showing an continuous growth pattern with a GP of 52% i.e.£260,000. Wages show 20% of net sales even though the “lady of the house” presently does not work within the business and the partner is suffering from ill health, hence the reason for the sale of the business. Working on these “numbers” it would be expected to achieve Net Adjusted Profits well into 6 figures having paid all trade expenses and rent, after allowing for personal expenses, one off payments and adding back wages paid to replace the owners input into the business.
Monthly Management reports by ‘Roslyns’ demonstrate consistent net profits of £8,000 to £9,500 per calendar month indicating an annual net profit well into 6 figures.

CARRY ON THE GREAT TRADITION OF THE GREAT BRITISH PUB IN A GREAT BRITISH PUB WITH LIFESTYLE AND EXCEPTIONAL LEVELS OF SATISFACTION AND ROBUST PROFITS.

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

Property information

Property:

Leasehold