Price Reduced Hampshire Leasehold Public House For Sale

Business description

The particular highlights of the business are:
- The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele.
- A very well presented premises
- Long trading hours
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £240,000 with a net profit of £56,000. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited because the owner is looking to retire.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.

History
Agents are delighted to place onto the market this thriving public house which has been established since the 1890’s. The business has been in the hands of the current owner since inception and she now wishes to sell due to retirement.

Services
This very good business opportunity provides beer, sprits, live music, sky sports, pool and game machines. 90% of sales are wet.

Staffing
The concern employs 6 staff who are all part time. All staff would stay on after a sale.

Owners Role
The owners’ role is hand on and deals with the running of the business.

Marketing
The owner markets the business in local papers, yellow pages and face book but they do not have a website.

Competition
As far as competition is concerned they is none for a 1\2 mile radius

Market
The client base consists of 90% regulars with some passing trade

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include longer trading hours to 1:00am.
• Introduce food as they do not sell food.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Property Details
The front is branded with an attractive glass front. There is a CCTV system. The main customer service area is carpeted. It is very well presented and is very conveniently laid out.

The Public house has 60 covers. The customer service point is to the front.. There are customer toilets.

To the rear is a store room. There are a toilet and staff facilities and a fully equipped kitchen.

Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £15,000.

First Floor
On the first floor there is 3 x letting rooms which create £24,000 per annum and there is also owners accommodation with double bedroom en suite and a living room.

External
To the rear a beer Garden with a further 20 covers.

Financial Details
The present turnover is £204,000 per annum with a gross profit of £138,000 and a net profit of £56,000.
The potential turnover of the business within the next 2 years is forecast to reach £360,000 given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 10 years with 7 years remaining. The rent is £27,000 pa with a review in 1 year. The lease may be renewable or negotiable for longer term if required. The rates are £9,300. There is a tie for beers only.

Leasehold rent:

£27,000 per annum

Living accommodation:

On the first floor there is 3 x letting rooms which create £24,000 per annum and there is also owners accommodation with double bedroom en suite and a living room.

Location:

- Situated in area of Aldershot in Hampshire
- Prominent location on main arterial road
- Excellent parking facilities nearby
- Area earmarked for regeneration
- Surrounded by well populated residential area with schools and other local amenities.
- Local population consists of a mixed population
- Area offers exceptional lifestyle
- Good volumes of traffic and pedestrian flow
- Commercially thriving area

Premises details:

The front is branded with an attractive glass front. There is a CCTV system. The main customer service area is carpeted. It is very well presented and is very conveniently laid out.

The Public house has 60 covers. The customer service point is to the front.. There are customer toilets.

To the rear is a store room. There are a toilet and staff facilities and a fully equipped kitchen.

Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £15,000.

First Floor
On the first floor there is 3 x letting rooms which create £24,000 per annum and there is also owners accommodation with double bedroom en suite and a living room.

External
To the rear a beer Garden with a further 20 covers.

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include longer trading hours to 1:00am.
• Introduce food as they do not sell food.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

Competition / Market:

As far as competition is concerned they is none for a 1\2 mile radius

Reasons for selling:

Retirement.

Trading hours:

Monday to Sundays: 11:00am-11:00pm

Employees:

The concern employs 6 staff who are all part time. All staff would stay on after a sale.

Years established:

120 years

Other information

Support & training:

The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Furniture / Fixtures value:

£15,000 (included in the asking price)