Leasehold Public House and Restaurant For Sale

Business description

Bag a Business Ltd is privileged to present to the market one of Cumbria's finest examples of modern contemporary public houses and restaurant venues. The substantial premises has recently undergone a £500,000 refurbishment, completely transforming the property to offer two open plan bar/lounge areas, a designated games room, and a traditional oak panelled restaurant with separate bar servery. The business was purchased by our client in February 2005, whose dream was to re-establish the commanding property as the area's main community venue. Main achievements have included the focus on the restaurant facilities, now receiving bookings for weddings, christenings and anniversaries. The Sunday carvery has become increasingly popular, with the mouth-watering two-course menu proving a massive success, priced at just £8.50. Entertainment is offered every Friday and Saturday (full programme displayed in the main bar) with four busy pool teams, card players and darts. Our client has also totally transformed the first floor private accommodation to offer four comfortable bedrooms; large fully fitted kitchen and recently upgraded family bathroom. Current sales average at £7,307 per week, with a healthy GP of 50%. There is endless scope for any experienced operator wanting to purchase an above average pub/restaurant venue to further build upon the already excellent sales growth.

Property information

Property:

Leasehold

Lease terms:

Leasehold
Original lease: 10 years (renewable)
Remaining: 8 1/2 years
Review every: 5 years
Rent: £850 per week
Partial tie to brewery

Living accommodation:

PROPERTY DETAILS Very spacious, detached public house with beer garden to two sides and large car park for approximately 60 cars. GROUND FLOOR Entrance vestibule Two separate open-plan bar/lounge areas Area 1: Raised area with stainless steel gas fire, solid wood tables and chairs, club chairs and leather sofas Decorated in relaxing cream and burgandy Area 2: Main bar with direct access to external beer garden. Raised stage area with electronically controlled sports screen (can show two premiership games at once), feature fireplace, main bar servery Games room: Two pool tables, high and low level seating, separate bar servery and 42" plasma TV Panelled restaurant (minimum 60 covers): Stainless steel carvery unit (£5,000) and bar servery Three separate ladies' and gents' WC facilities Cleaner's cupboard Cellar access Door to owner's private hallway (separate entrance) FIRST FLOOR Halway Fully fitted kitchen Spacious lounge Recently refurbished bathroom with corner jacuzzi bath/shower, double basin vanity unit Separate WC Office/bedroom 4 Bedroom 3 (double) Bedroom 2 (large double) Master bedroom suite (very large double) CELLAR Four separate areas, including newly upgraded barrel cool room, office and equipment store EXTERNAL Large customer beer garden Designated smoking area with electronic canopy Secure customer car park Owner's garage

Location:

The Friars Hotel occupies a commanding trading position along Friars Lane in Barrow-in-Furness. The imposing two-storey building was built approximately 50 years ago and its unusual curved structure ensures maximum visibility from both ends of this busy street. Friars Lane is one of the main trunk roads into the centre of Barrow and runs straight through one of the area's largest residential estates. There is a busy parade of complementary shops within walking distance and a substantial car park nearby. Barrow is one of Cumbria's fastest growing communities, encouraged by a booming ship making coastal redevelopment programme.

Other information

Trading hours:

Mon & Tue: 5:00pm - 12:00am; Wed to Sun: 12:00pm - 12:00am (1:00am close on Fri & Sat)