Public House With Function Rooms In Margate Kent For Sale

Business description

We are delighted to offer for sale thriving public house and function rooms, which was established in 1926 and which has been in our clients' careful hand since 2004. The pub is only now offered to the market due to our clients' wish to retire. The business trades 7 days a week and generates a turnover in the region of £312,000 per annum with a gross profit of 52%. Ye Olde Charles offers high quality food, a range of ales, spirits and fine wines. The business has an excellent reputation and is renowned for its quality food. The pub hosts a darts league, pool league and a karaoke night. The business has a loyal customer base and enjoys much repeat trade and word of mouth recommendations. The premises are well-equipped to suit the trade with a commercial kitchen, large bar area and 2 function rooms. There is a 2-bedroom managers flat, 3-bedroom owners' accommodation and a further self-contained 2-bedroom flat, which could be let out. The business has previously traded as a hotel and could be converted back if so desired. We are advised that a personalised vehicle registration number, which has relevance to the business, will be included in the sale. This is an ideal opportunity to acquire an already thriving pub, with 3-bedroom owners' accommodation and scope for future growth. Early negotiations with Preferred Commercial must come highly recommended.

Property information

Property:

Leasehold

Lease terms:

Original length: 21 years
Remaining: 9 years
Review: every 5 years
Rent: £36,000 per annum

Leasehold rent:

£36,000 per annum

Location:

Ye Olde Charles occupies substantial 3-storey detached premises, ideally located in a densely populated residential area in the town of Margate, Kent. The premises benefit from ample private parking and are surrounded by a variety of complementary shops and businesses. The sea front is just a short distance away, while the town centre is approximately a mile and a half away. The business boasts easy access to the A-road network and the M2 motorway is 27 miles away. Margate is a popular seaside resort and is also a desirable place in which to live and work. The town is situated at the most easterly point of the Isle of Thanet which also encompasses nearby Ramsgate and Broadstairs. Kent International Airport and Port of Ramsgate are both just a short drive away. Canterbury lies approximately 17 miles away, while Dover is 20 miles to the south.

Premises details:

Substantial 3-storey detached pub premises with 3-bedroom owners' accommodation. Briefly comprising:

Ground Floor
• Large open-plan lounge bar with tables and chairs for up to 90, pool table, 6 x TV screens and 52 inch screen TV
• Central bar with 12 points of dispense, 24 x optics display, 3 x double door chillers, 2 x electronic cash register, table top chiller, ice machine, glass washer and sink
• 2 x ladies WCs with wash hand basins
• 2 x gents WCs with wash hand basins

First Floor
• Commercial kitchen with 6-burner gas hob and oven, double fryer, 2 x filter oil cleaners, griddle, double fryer, grill, 4 x microwave ovens, 3 x combi ovens, hot cupboard, 2 x 4-pot Bain Maries, 4 x stainless steel preparation tables, 2 x refrigerators, 3 x freezers, small refrigerator, 2 x small freezers, meat slicer, sink unit and storage area
• Store room with chest freezer, freezer, washing machine and dryer
• Dry store with shelving and racking, soup kettle, urn, microwave, 2 x Bain Maries, 2 x Panini grills, drinks fountain and chocolate fountain
• Function room with feature open fire, tables and chairs for up to 73 and air conditioning
• Function room bar with 3 points of dispense, 11 x optics display, 2 x 2 door chillers, electronic cash register and glass washer
• Second function room
• 2-bedroom managers flat with kitchen, shower, lounge and bathroom
• Storage room with karaoke system and music system

Second Floor
• 3-bedroom owners' accommodation with lounge, kitchen and bathroom

Basement
• Beer cellar with 2 x chest freezers

Annexe
• 2-bedroom self-contained flat above garage with lounge, kitchen and bathroom

External
• Office
• 3 x storage areas
• Yard
• Smoking area with benches
• Lawned area with 28 x benches
• Children's play area
• Marquee with space for up to 120
• Car park with spaces for up to 30 vehicles

Business Operation

Trading hours:

Mon - Thurs: 11:00am to 11:00pm
Fri - Sat: 11:00am to 12:00am
Sun: 11:00am to 11:00pm