Traditional Grade Ii Listed Inn In The Village Of Lychpit For Sale

Business description

UNIQUE AND TRADITIONAL GRADE II LISTED INN SITUATED IN THE VILLAGE OF LYCHPIT, CLOSE TO BASINGSTOKE, HAMPSHIRE




Excellent central location in the heart of the busy village of Lychpit, surrounded by quality housing.
Lounge Bar (circa 60) with high heavily beamed ceilings, carpeted floor and large bar servery.
Public Bar/Pool Room (circa 20) with wood flooring, 2 pool tables, beams and bar servery.
Spacious 3 bedroom living accommodation with lounge/diner, kitchen and bathroom.
Commercial Catering Kitchen.
New patio terrace area with seating for 50-70.
Outstanding turnover of £258,000(incl. vat) with net profits of £35,000 creating a highly profitable business. Trade split of 98%/2% in favour of wet.
15 years remaining on renewable Enterprise Inns lease.
Genuine retirement sale.


EASY TO RUN AND PROFITABLE BUSINESS WITHIN THE DESIRABLE COUNTY OF HAMPSHIRE.


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


LOCATION
This unique and highly profitable Grade II listed property lies on Great Binfields Rd, Lychpit, Hampshire.

Lychpit is the newer development of the lovely parish of Old Basing and Lychpit, located close to the thriving town of Basingstoke.

Lychpit is a large housing development made up of 2,3,4 and 5 bedroom houses all privately owned, with this successful business conveniently located in the centre along with various shops, offices and amenities.

Basingstoke is a large town renowned for an above average standard of living and low unemployment with many company headquarters located within the town.

The M3, M4 and M25 are all within easy reach offering excellent road links.

THE PROPERTY

This is a well presented brick built Grade II listed property under a tiled roof occupying a very prominent central location.



Lounge Bar (circa 60, capacity 150) has a large and traditional bar servery, tiled and carpeted flooring, darts throw, exposed brick walls, heavily beamed feature ceiling and large plasma screen complemented by traditional wooden furnishings.

Public Bar/Pool Room (capacity 30) benefits from 2 pool tables, solid wooden floors, bar servery, and beams.

Both areas cater for darts and pool teams, a poker league and a regular football team.

Ladies and Gents W.C's.

Catering facilities include a well equipped commercial Kitchen with stainless steel appliances (appliances not tested).



Ground Floor Cellar with barrel drop, barrel racks, pumps and cooler. Dry Bottle Store.

OWNER'S ACCOMMODATION

Situated on the first floor and briefly comprises: 2 double bedrooms, 1 single bedroom, large lounge/diner, fully fitted kitchen and bathroom.

EXTERNAL

To the side of the property is a newly developed patio terrace ideal for the smoking area and comprises of 8 benches offering seating for 50.

Although there is no private car park there is a free public car park offering ample parking for all the amenities on offer.

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:

Sun - Thurs 10am - Midnight

Fri - Sat 10am - 1am

Current opening hours are:

Sat - Thurs Midday - 11pm

Fri Midday - 1am

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 and property is being offered for sale as a lease assignment with approximately 15 years remaining of the Enterprise Inns full repairing, insuring and renewable agreement. We are informed that the rent is currently set at £38,000 with the next rent review not due until January 2012.

We are advised that the property benefits from mains gas, electric and water and benefits from gas central heating.

Business rates are currently £5,800 pa.

THE BUSINESS

Our clients took over the business in August 2004 and have developed a very strong trading foundation over the last 3 years. Our clients have developed a loyal local following and have an excellent wet trade, although openly admit that they have not exploited the food trade that clearly exists.

This high quality business is a very successful and profitable business and already having a solid trading foundation still offers new enthusiastic owner operators potential to increase turnover especially on the food side. Current sales are circa £258,000 (incl. vat) with reconstituted net profits (after adding back finance, bank charges, depreciation and managers wages) of £35,000. Trade split of 98% / 2% in favour of wet.

In our opinion this is an ideal opportunity for experienced owner operators to continue with this very successful business and endeavour to reap the rewards that are currently on offer. Our vendor client has established an excellent reputation which can be fully emulated by new enthusiastic operators. The asking price reflects the location and quality of fixtures and fittings.

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

Property information

Property:

Leasehold