Free Of Tie Lease Business On Outskirts Of Southern Cotswold Town For Sale

Business description

EXTENSIVE AND WELL ESTABLISHED PRIVATE 'FREE OF TIE' LEASE BUSINESS SET ON THE OUTSKIRTS OF THIS SOUTHERN COTSWOLD TOWN




Located on the outskirts of this substantial Cotswold town.
Traditional style lounge bar (circa 40) and dining area (circa 24), both in good decorative condition.
Fully equipped Catering Kitchen.
Large function room/skittle alley (circa 90) in constant use for the many skittle teams.
Well presented 3 bedroom living accommodation.
Lovely beer gardens and large car park.
Turnover for last financial year was £192k(inc) with a 90/10 split in favour of wet and an annual rent of £25k. Recon net profit of £40k.
Offered on a very favourable Private Free of Tie Lease.


UNIQUE, THRIVING AND PROFITABLE BUSINESS IN STUNNING COTSWOLD TOWN OFFERED ON A FREE OF TIE LEASE.


ASKING PRICE £75,000 FREE OF TIE LEASE TO INCLUDE FIXTURES AND FITTINGS, GOODWILL, EXCLUDING S.A.V.


LOCATION
This substantial property has an excellent corner location within this desirable South Cotswold town.

This is a charming town, tucked away under the Southern edge of the Cotswolds, equidistant from Gloucester and Bristol, Cheltenham and Bath, only a few miles from the M4 (junction 18) and M5 (junction 14).

This is a hospitable, thriving and lively place with many historic and interesting buildings.

The Cotswold Way National Trail passes through the town, along the main shopping streets which are packed with small family run shops along with good schooling and a good range of further amenities.

THE PROPERTY

This substantial inn is an attractive and impressive 2-storey property of rendered brick construction under a pitched, tiled roof occupying a superb corner location.

The Lounge Bar (circa 40) is a spacious bar area with carpeted flooring, large bar servery and a traditional feel. Access to the skittle alley/function room, W.C's and dining area.

The Dining Room (circa 24 covers) is a good sized charming and delightful room giving a warm and desirable feel. This room benefits from its own bar servery, beams and wooden furnishings.

The Skittle Alley/Function Room (circa 90) is a lucrative part of the business, being home to 10 skittle teams benefitting from 2 skittle alleys, 1 crib team, 1 dominos team and occasional live music and bingo.

Ladies and Gents W.C's.

Ground Floor Cellar accessed from just off the main corridor with pumps, racks, python and cooler.

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

OWNERS ACCOMMODATION

Situated on the first floor and briefly comprises: 2 double bedrooms, 1 single bedroom, fully equipped kitchen/diner, lounge and bathroom.

EXTERNAL

To the front of the property there is a large mature beer garden with room for 20 wooden benches along with a decked smoking area.

To the front of the property is also a large car park for 25 cars.

To the rear is a private garden, courtyard and 4 private parking spaces.

TRADING AND LICENSING

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

Sunday-Thursday 10.00am - Midnight

Friday-Saturday 10.00am - 1.00am

Current opening hours:

Monday - Thursday 5.00pm - Midnight

Friday 5.00pm - 1.00am

Sat Midday - 1.00am

Sunday Midday - Midnight

NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the NCPLH Qualification in readiness for their intended operation of the Public House. 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

The business is offered for sale as a private 'free of tie' lease assignment with approximately 16 years remaining of the original full repairing and insuring, renewable agreement. We are informed that the rent is currently £25,000 per annum with the next rent review not due for 2 years. 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. We are advised that the inn benefits from all mains services and uses gas central heating (no services seen or tested). Business rates are advised as currently being £4,680 per annum.

THE BUSINESS

The current owners took over the business in 2004 as a family concern in this well established business. The vendor has increased the turnover by £80,000 over the last 3 years and offers this profitable business in good condition.

This offers an ideal opportunity for owner operators to continue with the excellent reputation that the current vendor client has achieved, along with continuing to build the turnover with a stronger emphasis on food.

Current sales are circa £192,000 (inc) with a 90% wet and 10% food split. In our opinion the food sales can be increased and significantly improve the turnover and profits with new enthusiastic owner operators.

We calculate the reconstituted net profits (i.e adding back managers costs, finance costs, depreciation and other expenses) of circa £40,000.

The asking price reflects the location and the current trading foundation.

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

Property information

Property:

Leasehold