Star & Garter Pub Restaurant For Sale

Business description

Asking Price: £900,000 Freehold / Leasehold

Delightful pub/restaurant nestling in glorious South Downs near Goodwood. 3 well appointed letting bedrooms and charming cottage. Refurbished and retaining wealth of character. Under management – showing net T/O £450,766. A delightful Grade II listed building believed to date back to the 18th Century, The Star & Garter is a charming freehold pub/restaurant with an attractive garden, in the middle of this picturesque village. Closed in 2002, the property was comprehensively restored over the course of the following year – the work being undertaken sympathetically in a rustic style true to the surroundings, with exposed brick and flint walls, oak flooring and simple wooden furnishings. The adjoining cottage is similarly full of character and understood to be the original pig pen. The Star & Garter is situated in the small hamlet of East Dean – complete with village green and duck pond - lying just six miles north of Chichester and a couple of miles off the A286 Midhurst Road, linking Guildford to Chichester. With such an idyllic setting in the heart of the glorious South Downs – soon to be designated a National Park – it is close to the Goodwood race course, motor racing circuit and aerodrome. Other well known local attractions include Chichester and the Festival Theatre, Arundel Cathedral and Castle, Fishbourne Roman Palace, Portsmouth’s historic ships and dockyards, Cowdray Polo Park and the National Trust properties of Petworth House and Uppark to name but a few, making The Star & Garter an excellent spot for an overnight stay or a weekend away in one of the well appointed letting bedrooms. When the current owner bought The Hurdlemakers in 2002, both business and property had been sorely neglected over a number of years. It generally takes some time to turn things around, but after re-opening following the major refurbishment, trade has responded remarkably well. Reverting to its original historic name - The Star & Garter- a strong reputation has quickly been established for excellent food, thereby attracting a good level of repeat business from wealthy and discerning clientele in this much sought after corner of West Sussex. However, the owner and his new wife have decided to concentrate on their other interests in France where they are currently living and hence the decision to offer this great opportunity to buy an established and growing business in a lovely part of the country.

THE PROPERTY
With origins believed to date back to the 18th Century, the attractive detached building – Grade II listed – and adjoining cottage are of traditional brick and flint construction with slate roofs, and are planned over ground and first floors.

PUBLIC AREAS
The front door is from the front of the building with another separate entrance from the rear terrace and beer garden, both leading directly into the open plan Bar and Restaurant area, providing for about 48 covers in total. The attractive wooden bar counter has a well equipped servery behind which in turn, connects directly with the kitchen at the rear. The whole of the bar/restaurant area is rather rustic in style with exposed brick and flint walls, beams to the ceiling, wooden floorboards and an assortment of wooden tables, chairs and benches.

LETTING BEDROOMS
A private staircase, accessed externally from the terrace, leads to the first floor and the 3 well appointed and comfortable letting bedrooms (1 four poster, 1 double and 1 twin) to accommodate up to 6 guests – all three have en suite facilities, and benefit from a central heating radiator, colour television, radio alarm, hairdryer, complimentary tea/coffee tray and wifi internet access.

OTHER PROPERTY
A particular feature of the business is the adjoining cottage which comprises an open plan living area, separate bedroom and bathroom. Outside, there is a small private enclosed patio.

SERVICE AREAS
Well fitted kitchen with stainless steel fittings and commercial equipment. Ground floor beer cellar. Walk-in fridge. Separate storage, preparation and freezer room leading to office. Laundry room.

OUTSIDE
At the rear, there is an attractive and enclosed garden comprising a paved terrace with wooden tables and seating for up to 36, external lighting and heating, and steps to the raised lawn, with tables and bench seating for about 60. Further table and bench seating can be found to the front.

SERVICES
Chichester District Council. Mains electricity, water and drainage. Cooking, central heating and hot water by LPG.

LICENCE
The property has a Premises Licence.

TRADE
Run completely under management since reopening in 2003, management accounts show trading profit £66,686 from net turnover £439,136 for year end 31 October 2008. Management accounts for the first 8 months of the current financial year (end June '09) show a marked increase which predicts net turnover may exceed £480,000 by the year end.

PRICE
£875,000 for the freehold property complete with goodwill and trade contents (according to inventory) but excluding personal items. Stock at valuation. As an alternative, the owners would consider granting a new lease to approved tenants on terms to be agreed.

FINANCE
Colliers Robert Barry is in touch with different brokers and lenders specialising in all aspects of the hotel, hospitality and pub sector and will be pleased to introduce them to you.

DIRECTIONS
Goodwood Race Course 2 miles, Chichester 6, Midhurst 8, Portsmouth 23, Guildford 25, Arundel 12, Brighton 28 and London 50. From Chichester, take the A286 towards Midhurst and Guildford. Upon reaching the village of Singleton, turn right as signposted towards Charlton and follow the road through Charlton into the village of East Dean. Follow the road around to the left and The Star & Garter will be found just past the village green on the right hand side.

FINANCE
Colliers Robert Barry is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved.

TO VIEW
All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.