Fenland Town Inn In The Affluent Location Of March For Sale

Business description

A HIGHLY SOUGHT AFTER 1ST CLASS TRADITIONAL 18TH CENTURY 'FREE OF TIE' FENLAND TOWN INN SITUATED IN THE AFFLUENT LOCATION OF MARCH, CAMBRIDGESHIRE




An attractive and substantial 18th century fenland town inn situated in the highly sought after location of March.
Atmospheric Lounge Bar (circa 40+), Traditional Public Bar (circa 40+), Delightful Restaurant (circa 28 covers).
Fully equipped Commercial Catering Kitchen.
Excellent 4/5 bedroom owner's accommodation.
11½ years remaining on renewable Criterion Asset Management 'FREE OF TIE' lease. Rent £30,500 p.a.
Sales for Y/E December 07 circa £345,000 (incl.).
Reconstituted Net Profit circa £80,000.
70% wet and 30% food.


A RARE OPPORUNITY TO PURCHASE A TOP QUALITY WELL ESTABLISHED BUSINESS AND HOME OFFERING A WONDERFUL QUALITY OF LIFE IN THIS BEAUTIFUL LOCALE.


ASKING PRICE £79,000 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL EXCLUDING S.A.V.


LOCATION
This mouth watering and highly desirable inn resides in the stunning and unspoilt countryside of Cambridgeshire in the historic fenland town of March twixt Cambridge and Wisbech and can be easily reached from junction 17 of the A1(M) near Peterborough. The meandering old course of the River Nene, part of the 200 mile long Fens Waterway system winds its way through the town centre of March on its way to Ely. March is a convenient stopover for boat users, with moorings in the town centre. Other nearby attractions includes the Peckover House and Garden at Wisbech, the Ely Museum and Ely Cathedral plus many more. This superb inn is ideally situated to catch an abundance of trade not just from the local and surrounding villages but also receives an excellent level of passing trade from visitors and tourists coming from afar to this beautiful and particularly popular region.

THE PROPERTY

This fantastic inn is a substantial and impressive 18th century 3-storey detached property of brick construction under a pitched, tiled roof. The main entrance at the front leads into the Public Bar (40+) being a good sized traditional room with a feature return bar servery with a solid polished counter and a mirrored back fitting with a full 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, a poseur, upholstered chairs and upholstered stools. Adding to the charm of this room is the feature brick built open fireplace and the exposed beamed ceiling and walls. Access to the W.C's, Restaurant and Lounge Bar (40+) being a good size is a bright and airy atmospheric room with a return bar servery and tiled counter with a range of trade optics and refrigerated bottle coolers (not tested) which is complimented by the fixed upholstered perimeter seating with loose polished tables and upholstered chairs and upholstered stools. Adding to the character of this room is the feature stone fireplace with gas point (currently unused). Access through to the Beer Garden and W.C's.



Restaurant (circa 28 covers) is a warm and inviting room exuding a lovely cosy ambience with loose polished tables and upholstered chairs. There is a lovely feature brick built fireplace with gas point (currently unused) and laminate flooring.

Games Room (10) with a mini return bar servery, a darts throw and space for a pool table and an AWP. Access to the W.C's and Beer Garden.



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

Ladies and Gents W.C's.

Catering facilities include a fully equipped commercial Kitchen with stainless steel appliances and preparation surfaces (appliances not tested). Access to the Wash Room and Freezer/Prep Room with walk-in chiller.

OWNER'S ACCOMMODATION

Situated on the first and second floors and briefly comprises: 4/5 bedrooms, lounge/kitchen, bathrooms x 2, and utility room with access to the terrace.

EXTERNAL

Patron's car parking facilities for circa 8 cars. There are two enclosed beer gardens, one leading off the lounge bar being paved with tables and chairs and a covered smoking area with halogen lights/heaters and the other leading off from the games room with decking and paving with tables and chairs and timber benches/seating and again a covered smoking area with halogen lights/heaters. There is also a private driveway and 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:

Monday - Sunday - 10.00am - Midnight

The current trading hours are as follows:

Monday - Saturday - 11.00am - 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 central heating (no services seen or tested). The business is offered for sale as a lease assignment with approximately 11 and a half years remaining of the original Criterion Asset Management 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 advised as currently being £9,102 per annum. Rent is currently £30,500 per annum reviewed in March 2009.

THE BUSINESS

Our vendor clients, in situ for the past 9 years have successfully operated this superb inn on a part time basis with the assistance of 3 full time and 2 part members of staff. Due to our clients now having two very young children and wishing to spend more quality time with their family they have reluctantly decided to sell. This popular and well established inn is a successful and profitable business and already having a solid trading foundation still offers a new enthusiastic entrepreneurial 'hands-on' partnership considerable potential to increase the sales, especially by simply focussing more on expanding the food side of the business. Sales for Y/E December 2007 circa £345,000 (incl.). Reconstituted net profit (ie after adding back finance costs, depreciation and other expenses) of circa £80,000. Trade split is approximately 70% wet and 30% food.

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

Property information

Property:

Leasehold