Cock Inn Character Pub For Sale

Business description

Well known character pub – free of tie & retirement sale.

2 bars, restaurant areas (100+). Spacious private accommodation, large garden & car park. Regular trade; £469k T/O. Situated just off the A418 at the heart of the village of Wing, The Cock Inn is well placed to capitalise on both local and passing trade as well as drawing custom from the nearby market town of Leighton Buzzard. Notable local employers include BE Aerospace and Taylor Woodrow. With Luton and Milton Keynes also within easy striking distance it is easy to see why The Cock Inn is a popular year round destination. The Cock Inn is a spacious character free house with elements of the building dating back to the 16th century. The property has some lovely period features which are complemented by the clean contemporary decor. There is a smart beamed restaurant with its own bar and carvery, a large and welcoming public bar and two further cosy areas. With all this space it is possible to offer over 130 covers.

The first floor private accommodation is particularly spacious and with refurbishment offers a number of possibilities, such as the potential for letting bedrooms or a large flat for owners. Our clients have been operating the business since 2000 and in that time they have taken great care of the property, making a number of improvements. Turnover has remained consistently strong during the period so anyone looking for a business that offers a well balanced wet and dry trade will not be disappointed. Despite this success our clients wish to retire and as a result have decided to sell. This presents a wonderful opportunity to acquire a well established and profitable business with good untapped potential.

THE PROPERTY
Grade II Listed with parts dating back to the 16th century. Built on ground and first floor levels with a basement cellar, the property is of brick and timber frame construction with tile roofs and some tile hung elevations.

PUBLIC AREAS
The Public Bar has a long “L” shaped wood panel fronted bar/servery and is in three distinct areas, the Main Bar (24), Snug (16) and Games Room (15). There is comfortable buttoned banquette seating and a pretty exposed brick hearth. The Restaurant includes a separate bar area (18) with a similar panelled servery and leads into a carvery area and formal dining room sub-divided into two distinct sections, (total capacity of over 60). There is a wealth of period features including exposed beams and brick hearth open fire.

OWNERS’ / STAFF ACCOMMODATION
In two distinct areas; above the restaurant is a comfortable 2-bedroomed staff flat with dining room, lounge, fitted kitchen and bathroom. To the other side is an unmodernised area comprising 4 storage rooms, office, changing room, WCs, shower room and lobby. If this area was renovated it could provide either spacious owners’ accommodation or letting bedrooms (subject to the necessary consents).

SERVICE AREAS
Good commercial kitchen, dry store, 2 walk-in fridges; 2-room cooled cellar.

OUTSIDE
Large Car Park (over 40) and pretty trade garden laid to lawn, with 6 A-frame tables.

LOCAL AUTHORITY AND SERVICES
Mains electricity, mains water, mains drainage and mains gas. Gas fired central heating.

LICENCE
The property has a Premises Licence.

TRADE
Management accounts for the year to March 2008 show turnover of £469,262 whilst certified accounts for the previous year demonstrated trading profits of £59,630 on net sales of £468,836. It should be emphasised the vendor enjoys very good living benefits out of the business but despite this has decided after many years of working in the catering industry he now wants to fully retire. This consequently presents an excellent opportunity for younger or enthusiastic proprietors who should undoubtedly be able to boost both profits and turnover still further.

LEASE
“Free of Tie” FRI lease expiring 25th December 2015, subject to review in 2010. The current passing rent is £63,000 per annum.

PRICE
Offers in the region of £75,000 for the benefit of the leasehold interest to include goodwill, fixtures, fittings and trade contents (according to inventory), excluding personal items. Stock at valuation.

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 prospective purchasers on request.

MILEAGES
Leighton Buzzard 3, Aylesbury 7, Dunstable 10, Milton Keynes 14, Luton 15, London 46. From the A418 turn into the High Street, the property can be found a short way down 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.

Property information

Property:

Leasehold