Freehold Or Leasehold Lincolnshire Public House For Sale

Business description

Advent Business Sales are pleased to offer to the market this extremely well established and profitable free of tie public house.

The public house, which dates back over 400 years, has been in the hands of the two vendors for over 6 years and is only now being reluctantly offered for sale due to their ill health.

The business has spacious premises, offering enormous potential. Sales are currently split 60/40% wet/dry. There is an excellent commercial kitchen/stores which briefly consists of:

• 6 ring gas burner with oven under
• Large electric griddle
• Double deep fat fryer
• Electric bain marie
• 3 microwaves
• Carvery unit with hot cupboard
• Overhead heat lights
• Panini griddle
• Meat slicer
• 2 single fryers
• Burgot boiler
• Large griddle
• 4 chest and 4 upright freezers
• 2 upright fridges
• 2 dishwashers
• Double stainless sink with double drainer
• Prep sink
• Racking for dry goods

For special events they erect a large marquee, which is approx 6m x 12m in size, which has an 85 seat capacity. They have ample tables and chairs available to meet the capacity. In addition, they also have 2 mobile outside bar units with 4 pumps and 2 coolers.

The pub has an excellent reputation for a good hand pulled pint and for freshly prepared home cooked meals with many customers coming from miles around to enjoy the personal friendly ambience.

A 42 cover restaurant has recently been added, although 20 covers are available in the bar area with a further 75 covers possible by removing the pool tables. This area then doubles as a function room for weddings, buffets, christenings and parties.

Leasehold option is available for £30,000 +sav with a rental of £20,000 pa
We are advised that stock at cost is approximately £3,000.
REF: 9298PE


DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through Advent Business Sales. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967).

Property information

Property:

Freehold

Lease terms:

Freehold or Leasehold
Original lease: 9 years
Remaining lease: 9 years
Review every: 3 years
Rent: £20,000 P.A.

We are advised that the annual business rates are currently: £900 – private rates

If purchased on leasehold there will be the option to purchase the freehold after 1 year.

Living accommodation:

Private accommodation – lounge, 2 double bedrooms, fully fitted bathroom with separate shower cubicle, w/c, sink, vanity unit, tiled floor and heated towel rail

Location:

This charming period public house occupies a prominent position in the centre of an upmarket village in rural Lincolnshire.

The main road access to the area is the A17 with the historic town of Spalding an Kings Lynn nearby.

The pub has its own large car park, which can accommodate circa 40 vehicles with additional free of charge on street parking also available al around the area.

Premises details:

BUSINESS PREMISES:
Large spacious premises briefly consisting:

Ground Floor
• Two storey detached property with the private accommodation on the first floor
• Fitted and presented throughout to a high standard, following the refurbishment carried out by the vendors
• Lobby entrance into the attractive open plan public lounge bar
• Servery
• Till
• Dartboard throw area with 2 boards
• 3 pool tables
• Newly erected dedicated restaurant served by a well equipped commercial kitchen with side stores
• Cellar with refrigerated barrel store room, compressor
• Male, female and disabled toilets
• Back office
External
• 1 single and 1 double garage
• Bbq area
• Large private car park with 40 spaces
• Attractive wall mounted hanging baskets all around the pub with auto irrigation system

Business Operation

Expansion potential:

Whilst already a successful public house, it still offers excellent scope to increase both sales and profits by:
1. Opening at lunch times and on Wednesday’s
2. Having themed food nights
3. Having live music nights in the area where the pool tables are and also dancing

Trading hours:

Mon-Tues: 7pm – 11pm
Wed: closed
Thurs – Fri: 7pm – 11pm
Sat: 4pm – 11pm
Sun: 12 – 11pm

Employees:

The pub has 2 full time and 2 part time employees including the 2 vendors and numerous other part time staff, who are on an as required basis.

Other information

Related documents:

• 
• Sales Particulars

Leasehold asking price:

£25,000