Highly Profitable Quality Urban Pub For Sale

Business description

IMPRESSIVELY BUSY AND HIGHLY PROFITABLE QUALITY PUB SET BACK FROM MAIN ARTERIAL ROAD INTO CITY OF NOTTINGHAM WITHIN LOCALE OF HIGH DENSIFICATION WITH DISPOSABLE INCOMES

Property Details

> Sales close to £1 million on split of 80% Wet to 20% Dry -£131,000 RNP – operated under management (VP)
> Excellent profit opportunity with un-missable potential for enhancement
> 500 capacity within quality well presented “female friendly” Lounge, Snug & Informal Dining areas
> Generous 4 bed owners home – opportunity for 7 ensuite guest bedrooms
> Patio & smokers solution – car parking (30) + garages
> Fully protected 10 year lease with workable well covered rent


A VERY POPULAR PUB WITH HIGH DISPOSABLE PROFITS & FURTHER TRADING OPPORTUNITIES INC BEDROOM DEVELOPMENT OFFERED AT AN AFFORDABLE £199,000 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL PLUS S.A.V.



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LOCATION (NG5 2EL)
You will find this most exceptional business with high recorded sales and robust profits located on the MANSFIELD ROAD (A60) on the left, set slightly back as you travel into the City of Nottingham having passed through the suburban area of Arnold travelling toward Sherwood Rise. Nottingham is one of the most vibrant and prosperous cities within the UK with high levels of employment and disposable incomes. Known for its abundance of pretty women, amongst the highest ratio of females to males within the country it attracts customers from other East Midlands Cities such as Derby & Leicester along with the outlying villages and market towns. The city is steeped in history and has its own castle to its centre which has undergone a high level of investment and renaissance. The property is only minutes away from the site of the annual “GOOSE FAIR” which is the highlight of the annual round of ancient fairs taking place throughout England drawing hundreds of thousand of visitors from far and wide.

PROPERTY DESCRIPTION
The property is completely detached, of impressive washed brick construction under pitched roofs and was constructed in the early 1800’s as a private hotel being extended and converted to a large high quality managed public house. The internals of the business have been laid out and fitted to be “ female friendly” and has a capacity of 500 within quality lounges, snugs and informal dining areas broken down into “user occasions” giving a “hotel” feel to the operation. Deep piled carpets are fitted with stripped timber floors to hard working areas such as bar aprons. The areas are furnished with perimeter seating to quality polished wood table along with padded stools and carver chairs. Lighting is subdued to low ceilings with large light bearing windows and French Windows with matching drapes. BAR SERVERY, very much a focal point is of polished timber construction with excellent merchandising opportunities. BEER CELLAR is fully chilled and to the ground floor of the buildings. TOILET FACILITIES are duplicated in two areas and are of high finish. CATERING KITCHEN is fitted to commercial standards with s/s equipment and professionally fitted extraction.


OWNERS ACCOMMODATION
Located to the 1st & 2nd stories comprises of a generous 4 bedrooms, two of which are ensuite, along with family bathroom, kitchen and living room with a further selection of rooms suitable for conversion to 7 ensuite guest bedrooms (planning permissions lapsed but we are advised would be successfully reinstated and the freeholder would consider a joint “capex” development scheme with a new owner).


EXTERNALS
Definitely a positive facility and well used are the patio areas to the front and side of the main property on raised decorative iron fenced terraces. Car parking is available for 30 vehicles and there is a row of private garages.

PREMISES LICENSES
We are advised that the business has a premises license from 10.30 am till 12 midnight all week. Currently the business operates hours of 11am till 11pm with 12 pm on Friday & Saturday and 12pm till 11pm on Sundays 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 10 years commencing 2001 from ENTERPRISE INNS and is fully protected under the Landlord & Tenant Act being fully renewable after 10 years for a further 10 years anon without further cost. Current business rent is a well affordable £59,231 pa which is just 7% ratio to turnover.

SERVICES
We are advised that the business benefits from connected mains, and central heating by GAS.

THE BUSINESS
Our clients have owned the business for 7 years and are running it as part of small group under management. The instruction to offer the business for sale is part of the companies rationalisation and re-positioning plans and not due to any issues of operation or profits. Management accounts show a robust £968,200 inc vat on a sales split of 80% Wet to 20% Dry with a RNP (after allowing for exceptional and private expenses along with managers salary) of £131,000. With a further focus on unused food service hours and subsequent development of an appropriate food offer it would be reasonable to see a potential overall uplift in compound sales of 10%, further more with the added potential of the guest letting bedrooms the overall profitability of the business could surpass £250,000 pa. What a business opportunity !!!!!!





THIS MUST BE ONE OF THE BEST BUSINESS OPPORTUNITIES ON THE MARKET TODAY OFFERING A HIGH LEVEL OF EXISTING SALES, ROBUST PROFITS AND FURTHER POTENTIAL – A MUST FOR A VIEWING EARLY

Property information

Property:

Leasehold