Private Free Of Tie Leasehold In Llanelli For Sale

Business description

SUPERBLY PRESENTED AND WELL LOCATED PRIVATE 'FREE OF TIE' LEASEHOLD WITHIN THE BEAUTIFUL TOWN OF LLANELLI, CARMARTHENSHIRE




Fantastic location within the hub of the town centre of Llanelli, Carmarthenshire.
Recently refurbished large lounge bar (circa 80) with quality wood flooring and superb furnishings.
3 newly refurbished self contained flats, all comprising of double bed, lounge, kitchen and bath.
Impressive function room (circa 70) being utilised as Restaurant and beautifully decorated.
Wonderful decked terrace area (circa 70) with access to lounge bar and BBQ area.
New 15 year Private Free of Tie Lease - all income retained by the lessee.
Current sales circa £5,500pw (incl.) split 90% wet and 10% food with huge scope for more food.
This is a genuine business with rising turnover and huge potential.


RARE OPPORTUNITY TO PURCHASE A NEW 'FREE OF TIE LEASE' IN THIS RECENTLY REFURBISHED TOWN CENTRE PROPERTY.


ASKING PRICE £69,950 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL, EXCLUDING S.A.V.


LOCATION
This lovely and unique Grade II listed town centre property is located on Town Hall Sq, Llanelli, Carmarthenshire.

Llanelli is the largest town in the county of Carmarthenshire and sits at the mouth of the River Loughor on the west Wales coast, approximately 13 miles west of the city of Swansea and 12 miles east of the administrative town of Carmarthen.

Amongst other things, it is famous for its rugby tradition.

Llanelli is a fast growing town with large residential, leisure and retail developments.

This well presented business has a superb location in the bustling town centre and is a growing business now the work has been completed.

THE PROPERTY

This substantial and unique Grade II listed property is an attractive 3 storey property of stone construction under a pitched, tiled roof occupying a prominent town centre location.



Lounge Bar (circa 80) is an attractive and recently refurbished room with lovely high ceilings, quality wood, tiled and carpeted flooring complemented by its beautiful furnishings including leather sofas and polished tables.

Access to W.C's, decked terrace and restaurant area.

Pool Area (circa 12) is well supported by the regular custom and has a large bar server area and access to the terrace.

Upstairs Function Room/Restaurant (circa 70) is an excellent sized room, also recently refurbished with high quality furnishings regularly being used for weddings, family parties and discos. With its own bar area and W.C's.

Ladies and Gents W.C's with disabled facilities.



Catering facilities include a commercial Kitchen with stainless steel appliances (appliances not tested). Access to restaurant area.

Lower Ground Floor Cellar with pumps, racks, python and cooler along with a locked bottle store.

OWNER'S/LETTING ACCOMMODATION

Situated on the second floor and briefly comprises: 3 self contained flats all comprising of 1 double bedroom, large lounge/diner, fully fitted kitchen and bathroom all finished to a very high standard. (2 currently being let for £125pw each).

EXTERNAL

To the side of the property is a new large decked terrace area with seating for 80 and offering a BBQ area.

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 :

Mon - Thurs 10am - 11pm

Fri - Sat 10am - Midnight

Sun Midday - 10.30pm

Current opening hours are:

As above

N.B. 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 new 15 year Private FRI Lease Agreement. The Lease is Private Free of Tie with all income being 100% retained by the Lessee.

The initial annual rent will be £35,000 RPI linked to inflation.

Rent reviews every 3 years.

Rent payable quarterly in advance.

Lease re-assignable after initial 2 year period.

Each party responsible for own legal costs relating to the transaction.

We are advised that the inn benefits from all mains services and uses gas central heating (services not tested). Business rates are advised as currently being £4,900 per annum.

THE BUSINESS

Our clients took over the business in 2004 and have completely refurbished the property to a very high standard. This lovely inn is a growing business with huge scope to create a very high turnover and offers new enthusiastic owner operators considerable potential to increase the sales. Current sales are circa £5,500pw (incl.) with reconstituted net profits( after adding back finance, bank charges, depreciation and managers wages) of £40,000. In our opinion there is massive potential to increase the food sales and would expect new fully focussed enthusiastic full time owner operators to achieve an annual turnover in excess of £400,000. The asking price reflects the location and quality of fixtures and fittings with the inventory expected to be valued in the region of £60,000. This fantastic inn is a growing operation which our vendor has driven to its current level of excellence.

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

Property information

Property:

Leasehold