Cotes Mill Public Bar Function Room & Restaurant For Sale

Business description

Beautifully situated on the banks of the River Soar surrounded by open countryside, Cotes Mill truly is a special place.

This centuries old building, situated just 2.5 miles from Loughborough, exudes a rare timeless charm and quality with its attractive bar and restaurant alive with appealing features. Cotes Mill sits on a site of 7.15 acres (unmeasured) including river frontage, mill pond, a large car park, gardens and a field occasionally used as a campsite. Occupying an unspoilt position in the village of Cotes and just a few minutes drive from Loughborough, the location ensures that the pub could be a popular port of call for the many visitors of nearby attractions such as the Great Central Railway, Snibston Discovery Park as well as those visiting the villages and local businesses in and around Loughborough. After 17 years in the hands of a regional brewer, Cotes Mill is now available on a new 25 year 'Free of Tie' lease and offers that rare combination of status, style and potential.

To maximise the property's potential as a trading business, a programme of significant improvement is required. However, as a destination business the pubs' location is perfect, being within a 20 miles radius of Nottingham, Derby and Leicester. A superb opportunity for enthusiastic, entrepreneurial operators.

THE PROPERTY
A Grade II Listed Watermill believed to date back to the 16th Century, altered and enlarged in the 19th Century.

PUBLIC AREAS
A wooden stairway at the front of the property leads to the trading areas on the first floor where from the reception there is access into both the Bar and Snug and a stairway leading to the Restaurant on the second floor. At present, a window in the reception area overlooks one of the original mill wheels which is worthy of becoming a more prominent feature in any future programme of improvements. The Bar is full of character having stone walls, timber beams and traditional furniture seating around 30 and was popular with many local clubs who held regular meetings at Cotes Mill. Off the Bar is a small Snug which seats 10. The Restaurant on the second floor is currently set up to accommodate around 82 people and operated on Sundays only with a carvery style menu. Finally the function room on the ground floor has its own bar servery, dance floor and is licensed for 120. There are two rooms on the third floor which, subject to obtaining the necessary planning permission and consent, could be developed and utilised as further trading areas.

SERVICE AREAS
Bar snacks were served Monday to Saturday from the galley kitchen off the bar whilst on Sundays a carvery was served from the open catering kitchen which is fitted with a range of stainless steel equipment and is adjacent to the restaurant on the second floor. Ground floor level beer cellar and bottle store.

OWNERS' ACCOMMODATION
The self contained owners' house can also be accessed from within the pub and is delightfully situated overlooking the Mill Pond. It has a lounge, dining room, kitchen, 4 bedrooms and a bathroom.

TRADE
There is no historic trading information available and therefore no guarantee can be made in respect of the previous levels of trade.

LICENCE
Premises Licence

TENURE
Leasehold. To be let on a new 25 year fully repairing and insuring, free of tie lease.

RENT
Rent and rent review pattern to be negotiated.

PRICE
£20,000 for the leasehold property.

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 upon request.

LOCATION
Prominent road side location on the A60 close to the junction with the B676, approximately 2.5 miles north of Loughborough, 13.5 miles south of Nottingham, 20 miles south east of Derby and 13 miles north of Leicester.

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

Property information

Property:

Leasehold