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Durham - Public House & Restaurant For Sale

Bishop Auckland, Durham
Asking Price:
£350,000 Furniture / Fixtures included
Turnover:
£270,000
Net Profit:
Available on request

Retirement Sale
Turnover Of £270,000
Potential to Expand Hours
Outline Planning Permission for Hotel
Same Owner Since 2000
EPC - C

REF 5505 – Freehold Pub & Restaurant

Blacks Brokers are proud to bring to the market this freehold pub and restaurant located in the much sought after area of Escomb, Bishop Auckland.

INTRODUCTION

The Saxon Inn has been in operation for over 400 years here on Saxon Green and over that time it has firmly established itself within the local community. Our client has been in ownership here since 2000 and has enjoyed this exceptionally popular pub, with loyal customer base and great reputation.

LOCATION

Escomb is a village on the River Wear close to Bishop Auckland. The area is well populated and very much sought after. This business is situated in the heart of the village, within an affluent residential area.

REASON FOR SALE

The business is only being offered for sale due to retirement, opening up an exciting opportunity for a new owner to enjoy this busy and popular pub.

LEASE

This is a freehold sale. No lease details applicable.

BUILDING LAYOUT AND DESIGN

The business is housed within a beautiful, centuries old property, with manicured and pretty surroundings. This elevated corner location gives the building a real feel of grandeur before even seeing inside. The position within a historic village means that the business benefits from both local trade and tourism. To the rear of the building is a large, private car park for patron use.
Inside, the pub area is cosy and welcoming with a traditional feel and bar. The restaurant area is more modern, with spotlights, colour themed décor and matching accessories – the business offers seating for 72, 40 of which are in the restaurant and 32 in the lounge diner. The building also benefits from a beer cellar and garage. All areas are well presented.
The property has plenty of space for expansion into a potential bed and breakfast or hotel opportunity, with planning permission for up to ten, en-suite rooms.

STAFF

The business currently has nine members of staff in place on PAYE contracts.

FINANCIAL DETAILS

Financial details are available upon a viewing of the business and the business has traded solidly over its trading history. The business generates an annual turnover of £270,000 with strong gross profits. Most customers are from the local area as one would expect, with additional, passing trade from visitors and tourists to the area.

SUMMARY

This freehold business offers a solid income stream, with much scope to develop the business further through some changes to this impressive and sizeable building. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Property information

Property:

Freehold

Business Operation

Trading hours:

MON: 12:00 - 14:00 // 17:30 - 23:00
TUE: 12:00 - 14:00 // 17:30 - 23:00
WED: 12:00 - 14:00 // 17:30 - 23:00
THU: 12:00 - 14:00 // 17:30 - 23:00
FRI: 12:00 - 14:00 // 17:30 - 23:00
SAT: 12:00 - 14:00 // 17:30 - 23:00
SUN: 12:00 - 14:00 // 17:30 - 23:00

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