Imposing Village Inn In The Beautiful Area Of Titchfield Common For Sale

Business description

SUPERBLY LOCATED AND IMPOSING HAMPSHIRE VILLAGE INN SITUATED IN THE BEAUTIFUL AREA OF TITCHFIELD COMMON, NEAR FAREHAM




Fantastic location situated on a large corner plot with quality dwellings in the lovely village of Titchfield Common, Hampshire.
Delightful trading areas with exposed beams and superb open fireplace offering seating for 80-90.
Large Car Park and extensive Beer Garden.
Excellent and very spacious 3 bedroom living accommodation.
Easily managed, ideal for newcomers and trade veterans alike.
Turnover of £380,000 (incl.) 100% wet with tremendous scope for food with trade kitchen.
14 years remaining on Enterprise Inns Lease with freedom of tie for wines, spirits and soft drinks.


EASY TO RUN BUSINESS IN THE HIGHLY DESIRABLE COUNTY OF HAMPSHIRE WITH HUGE SCOPE.


ASKING PRICE £99,950 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL, EXCLUDING S.A.V.


LOCATION
This imposing village inn has an excellent corner plot on Huntspond Rd, Titchfield Common, Hampshire.

Titchfield is a village in southern Hampshire, by the River Meon. Close by lie the ruins of Titchfield Abbey, a place with strong associations with Shakespeare, through his patron, the Earl of Southampton. To the east lies the large market town of Fareham.

Fareham sits between the cities of Portsmouth and Southampton, on the North West tip of Portsmouth harbour where the River Wallington joins.

The borough of Fareham including Titchfield Common has a population of approximately 108,000. This is set to increase with a large number of new homes due to be built within 400 yards of this successful business.

THE PROPERTY

This substantial inn is an impressive 2-storey property of brick construction under a pitched, tiled roof occupying a superb prominent corner position.



The Lounge Bar (circa 40) is a traditional bar with a lovely large prominent bar/servery, exposed beams and feature fireplace. Furnished with upholstered chairs and lightly polished tables.

The Public Bar (circa 40) is a good sized charming area with carpeted floors, exposed beams, pool table and darts throw complemented by traditional furnishings. This room has French doors leading to the extensive beer garden.

Ladies and Gents W.C's.

Ground Floor Cellar is accessed from behind the bar servery area and is well equipped with cooler and python systems.



Fully equipped commercial catering kitchen with stainless steel appliances and preparation areas, along with a separate larder and storage space. (Appliances not tested).

OWNERS ACCOMMODATION

Situated on the first floor and briefly comprises: Very spacious 3 double bedrooms, large lounge, fully fitted kitchen, W.C and bathroom.

EXTERNAL

To the front of the property there lies a very good sized car park with room for 35 cars and a smoking shelter with 3 wooden benches.

To the rear of the property is an extensive and enclosed beer garden comprising of a lawned and patio area offering seating for approximately 100.

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 :

7 days per week 10am - Midnight

Current opening hours:

Sun - Wed Midday - 11.00pm

Thurs Midday - 11.30pm

Fri - Sat 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 lease assignment with approximately 14 years remaining of the original Enterprise Inns full repairing and insuring, renewable agreement. We are informed that the rent is currently £72,000 per annum with the next rent review in 2012. 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 £12,500 per annum.

THE BUSINESS

The current owner took over this established and successful business in 2001. This offers an ideal opportunity for owner operators to continue with the excellent reputation that the current vendor client has achieved along with having the huge scope to take the food sales to the next level and increase turnover and profit accordingly.

Current sales are circa £380,000(inc.) with 100% wet trade. In our opinion the introduction of food trade will considerably increase turnover and gross profit.

We calculate the reconstituted net profits (i.e. adding back managers' costs, finance costs, depreciation and other expenses) of a very impressive circa £45,000.

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