Leasehold Pub/Restaurant with Letting Rooms For Sale

Business description

Bag a Business is pleased to offer to the market this thriving public house/restaurant, which benefits from 12 letting rooms. The Jolly Sailor dates back over 100 years and has been under the proud ownership of our client since 2007, during which time it has undergone a major refurbishment throughout. It is only now being placed on the market as our client wishes to concentrate on his other business interests. We are advised that the business is run by a manager, with help from a team of dedicated staff, and generates a turnover in the region of £365,000 per annum with a gross profit margin of around 65%. The air conditioned premises comprise of two bars and a restaurant with letting rooms above, all of which have been fitted out to a very high standard. This is further enhanced by the fact that most of the letting bedrooms and the manager's flat benefit from sea views. The Jolly Sailor enjoys an excellent local reputation for its quality food and for its two stunning balconies. We feel that this opportunity represents an ideal base for a new owner to build upon and urge early viewing.

Property information

Property:

Leasehold

Lease terms:

Leasehold
Original length: 25 years
Remaining length: 20 years
Review every: 5 years
Rent: £48,000 per annum

Living accommodation:

PROPERTY DETAILS An impressive end of parade building benefiting from a considerable amount of refurbishment, with 12 letting bedrooms, briefly comprising: GROUND FLOOR Main bar area - air conditioned and currently set up for approximately 100 covers Restaurant area with 60 covers Ladies' W/Cs Gents' W/Cs Cellar Fully fitted commercial catering kitchen with extraction unit Walk-in refrigerator Walk-in freezer Night entrance at the rear for residents' accommodation LOWER GROUND FLOOR Basement Jacks with: Own entrance and a separate bar Store room 1 Store room 2 FIRST FLOOR Manager's flat with its own kitchen, lounge, double bedroom, bathroom and large balcony with sea view Office Secure store room/office Bathroom Bedroom 1 - twin with en-suite facilities Bedroom 2 - double with en-suite facilities Bedroom 3 - triple with en-suite facilities SECOND FLOOR Bedroom 4 - twin room Bedroom 5 - twin room Bedroom 6 - double room Bedroom 7 - twin with en-suite facilities Bedroom 8 - triple room Shower room THIRD FLOOR Bedroom 9 - single room Bedroom 10 - double room Bedroom 11 - double room Bedroom 12 - double room 2 bathrooms Ironing room EXTERNAL Garage Sun balcony with tables providing approximately 25 covers Lower balcony with 12 benches

Location:

The Jolly Sailor is situated at the end of Clarence Parade, a sought after busy street, in Hampahire. There is ample on and off-street parking close by. The business draws its trade from the densely populated surrounding area, as well as from visitors who flock, particulally during the summer months, to Southsea, which is located in Portsmouth at the southern tip of Portsea Island. The built up areas of Portsmouth and Southsea run into one another and the centre of Southsea is less than a mile from Portsmouth city centre. It is known particularly for its beach, which is stoney, its two piers, and Southsea Common, which is a large expanse of grassland parallel to the shore from Clarence Pier to Southsea Castle. The area enjoys excellent rail and road links with the M275 close by, giving access to the M27, which connects to the M3 and the M25.

Other information

Trading hours:

7 days a week: 11.00am - 11.00pm