Well Located Public House With Lots To Offer For Sale

Business description

This well known and respected public house was established in the 1950’s and purchased by the current owner in December 2006. Since then he has substantially refurbished the premises at a cost of approximately £80,000. The pub is well known locally and has a reputation for its friendly service. There is a large and secure family oriented garden with a large children’s play area. There is decking area with seating and the garden has been well maintained. The pub shows all sporting events and there is wide choice of beers on offer. Because of this the pub is very popular with a wide range of loyal clientele, both young and old.

The business operates on an Enterprise Inns lease with weekly sales averaging £8,200, this being a 90/10 split on wet and dry. In our opinion there is a huge opportunity to develop the food business further as the owners have only recently started offering a limited food service. The kitchen is fully equipped with commercial catering equipment which was installed just over 1 year ago and has been kept to an impeccable standard, receiving top scores from environmental health. When the kitchen was installed a fully fitted bar was also installed in the basement of the pub, this opens out into the garden, so that when the garden is in use customers can purchase their drinks from the garden bar. To one side of the garden there is an outbuilding which has the potential for a sandwich bar/seafood bar (subject to planning). The current owner has already plastered the walls, installed an electricity supply and provided waste and a fresh water supply prior to submitting an application.

This property is in excellent order throughout, having been extensively refurbished recently. In our opinion this is a popular and well liked pub that represents a real opportunity for any potential investor or new enthusiastic owner operator to make good profits from this already well established business.

The owner has decided to sell the business due to his family commitments, with young children and his other business taking up increasing amounts of his time.

Customer Service:

The business has established a good local reputation, (mainly by word of mouth), for offering the best value for money with a friendly service. Staff pay strict attention to cleanliness and hygiene and are always polite and friendly, which has led to repeat business and customer loyalty.

Key Strengths:

As well as being a’ locals pub’ this is also a venue pub that people travel to from some distance to enjoy the Sky sports, darts teams, pool table and football team, as well as regular disco, live music and karaoke events.

Having the University close by with several young people who thoroughly enjoy what this pub has to offer means they are usually very busy indeed, as reflected in the weekly takings of the pub. Weekly takings, which although currently are very good, are still continuing to grow.

Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

Current turnover is circa £8,200 per week with very good net profits. This is broken down on weekly basis to circa £6,500 wet, £1,000 dry, £700 weekly from the fruit machine and the pool table. However the pub has been steadily increasing in trade and turnover for the last 18 months and food has only just been introduced, so the owner feels it is reasonable to expect turnover and profits to continue rising to significantly higher levels yet.

Property information

Property:

Leasehold

Lease terms:

Operating on a renewable 10 year Enterprise lease which expires in 2012, the rental paid is just £30,000 per annum.

Location:

Operating on a renewable 10 year Enterprise lease which expires in 2012, the rental paid is just £30,000 per annum. This comprises of a large bar area, commercial kitchen, office and domestic kitchen on the ground floor, with a basement cellar including beer drop, dry store and garden bar. On the first floor is the living accommodation of large living room, 3 double bedrooms and a newly fitted bathroom.

To the rear is an enclosed and secure garden area with a two tiered decking and patio area with a barbeque, well maintained grass garden, children’s play area with a large commercial climbing frame, sandwich/seafood bar (subject to planning), 2 large storage sheds, a large commercial bouncy castle, marquee and smoking area, with external stairs leading to the main bar area.

The whole of the premises has been fully refurbished over the last two years to a high standard at a cost of approximately £80,000.

Other information

Expansion potential:

This business offers an excellent opportunity for the successful buyer who is seeking a well-established business with the capacity to increase turnover, possibly expanding further into dry sales, functions and developing the outside summer trade. There is a large and well decorated living quarters with the benefit of a private kitchen. There is also a large walk in loft which, subject to planning could be turned into further rooms/bedrooms. With local businesses and the university in close proximity the pub could also offer bed and breakfast.

Competition / Market:

Much of the business's revenue is a result of word of mouth recommendation and location, bearing strong testimony to the excellent reputation enjoyed by the business since its inception. As there is currently no advertising the owner is aware that a more active sales and marketing campaign, including producing a website, would certainly improve sales and profitability and will increase its market exposure and revenues.

Support & training:

The owner will provide a handover period and is happy to provide ongoing support thereafter.

Reasons for selling:

The owner has decided to sell the business due to his family commitments, with young children and his other business taking up increasing amounts of his time.

Trading hours:

Monday – Sunday 10.00 – midnight (closing at 12.30 Friday & Saturday)