Inn At The Heart Of The Sought After Village Of Whissendine For Sale

Business description

CHARMING INN LOCATED AT THE HEART OF THE AFFLUENT AND SOUGHT AFTER RUTLAND VILLAGE OF WHISSENDINE




Superb village location.
Recently refurbished Lounge Bar packed with character.
Large outside wooden barn, newly constructed, and part of the fixtures and fittings.
Owners' accommodation consisting of lounge, Bathroom/ WC, and 3 double bedrooms.
Takings in y/e 31 August 2006 of £114,651, growing annually and with potential to develop further.
100% wet with strong potential to introduce food.
Assignment of a 10 year Enterprise lease from June 2005 with a reasonable rent of £12281 per annum.
Responsible only for internal repairs.


A SUPERB BUSINESS IN AN IDYLLIC LOCATION WITH POTENTIAL TO DEVELOP TURNOVER AND PROFITS.


ASKING PRICE £59,950 LEASEHOLD TO INCLUDE FIXTURES, FITTINGS AND GOODWILL EXCLUDING S.A.V.


THE LOCATION
The business is located in the Rutland village of Whissendine, just off the A606 Melton Mowbray to Oakham road, and close to the world famous Rutland Water.

The village is affluent, but the people living there are unpretentious and friendly and support the business as the village local.

Whissendine has excellent road links to Stamford and the A1 to the east and to Leicester and the M1 to the west, making it such a sought after location.

It is at heart a peaceful and unspoilt part of the British countryside, an idyllic location in which to live and operate a business.

THE PROPERTY

The property has been recently redecorated and is of a good standard throughout. We are informed that the premises were rewired in 2005, with a new boiler installed in 2004.



The front door leads into the L-shaped Bar Lounge, packed with olde worlde charm with its beamed ceilings.

To the right is a Games Area with the darts throw, also serving as a disco area. To the left is the Lounge Area with its well equipped bar servery and a cosy fireplace at the end. The furnishings are of a good standard throughout, fully carpeted with newly refurbished fixed and loose seating.

A rear hall leads through to the Gents WC and out to the rear car park. An inner hall leads from the lounge to the Ladies WC and out to the private rear yard.



The ground floor Kitchen has been approved by the Environmental Health for the preparation of team meals and could be upgraded reasonably easily to a full catering kitchen. The beer Cellar is on the ground floor plus a separate bottle store.

EXTERNAL

To the rear of the business is the car park, leading to 5 petangue pistes and to a newly constructed wooden barn which forms part of the business fixtures and fittings. The layout has been cleverly designed to enable a series of marquees to be assembled, allowing functions such as weddings, parties, beer festivals etc. to be organised here.

The barn has also 2 large and very useful storage areas to the rear.

The business has access to (for hire) from the village Feast Week Committee, 2 large marquees and 3 smaller ones which creates a substantial summer time outside venue. This is an area of the business which could develop dramatically in the coming years.

To the front of the business is a most pleasant patio area and the current owners have had a very competitive quote to deck and extend this popular sitting out area.

OWNER'S ACCOMMODATION

Located on the first floor, this consists of a lounge, bathroom/WC and 3 double bedrooms.

TRADING AND LICENSING

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

Monday to Thursday 12.00 to 12.00

Friday/Saturday 12.00 to 1.00

Sunday 12.00 to 11.30

Current opening hours are:

Monday to Thursday 5.30 to 12.00

Friday 12.00 to 2.30 and 5.30 to 1.00

Saturday 12.00 to 3.00 and 6.00 to 1.00

Sunday 12.00 to 5.00

Prospective purchasers should ensure that they gain the NCPLH Qualification in readiness for their intended operation of Licensed Premises. Guy Simmonds hold this one-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 instructed to offer this business as a leasehold re-assignment of a 10-year Enterprise lease from June 2005. The rent is set at a highly advantageous £12,281 per annum and has a full tie. The lessees are responsible for internal repairs only, the company being responsible for external repairs. We are advised that all mains services are connected (no services seen or tested).

We are advised that at the end of the term the lease (not seen by Guy Simmonds) will be renewable with no further premium - subject to the provision of the Landlord and Tenant Act 1954. Business rates are advised as being a highly respectable £1410 per annum.

THE BUSINESS

This is a terrific business with bags of potential. Turnover has increased over the last 3 years and continues to expand into this year. The development of the barn and the use of the marquees have enabled the current owners to play an even greater role in the social life of the village. New owners could build on this progress and even consider taking it to a new level with the introduction of food. The turnover for the year to 31 August 2006 was £114,651 inc. VAT - 100% wet with a reconstituted profit of just over £10,000. The work put in by the current owners should ensure that these figures improve, especially with the introduction of new owners with their new ideas.

The business is strongly supported by the villagers from Whissendine and further afield. There are 4 petangue teams, 2 quiz teams, one domino and one whist team and a popular golf society. There is a definite potential to develop the functions trade and to introduce food. The business will remain at heart a village local and an idyllic place to live and operate a business.

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

Property information

Property:

Leasehold