Exquisite 17th Century Inn In Wolverhampton For Sale

Business description

A substantial and attractive 17th Century property situated in the sought after location of Penn Common.
Traditional and characterful Main Lounge Bar (60+).
Well equipped Commercial Catering Kitchen.
Highly impressive 2 bedroom owner's accommodation.
7 years remaining on renewable Punch Taverns lease.
Sales for Y/E 30th April 07 circa £507,000 (incl. VAT) with a reconstituted net profit of circa £64,000.
60% wet and 40% food.
Enviable lifestyle for entrepreneurial partnership.
CAMRA Best Real Ale Country Pub 2009 West Midlands.

An unmissable opportunity to acquire this 1st class well established business and home with a solid trading foundation and excellent profits.

Asking price £79,950 leasehold to include fixtures and fittings, goodwill excluding s.a.v.

The Property

This fantastic inn is an attractive and impressive property situated in a prominent position. This substantial and traditional 2-storey property believed to date back to circa 1630 is of brick construction under a pitched, tiled roof.

The main entrance at the front leads into the Main Lounge Bar.

Main Lounge Bar (60+) having 2 delightful seating areas is a good sized characterful and atmospheric traditional room with a feature return bar servery of timber construction with a solid polished counter with a matching back fitting having a full range of trade optics and refrigerated bottle coolers (not tested) which is complimented by the attractive part quarry tiled and part carpeted flooring. Adding to the charm of this lounge bar is the fixed upholstered perimeter seating with loose polished tables and a mix of upholstered chairs and upholstered stools. This traditional lounge bar is a warm and inviting room with a wonderful ambience which is enhanced by the part panelled walls and the lovely exposed beamed ceiling. Access to the beer garden.

Ladies and Gents W.C's.

Ground Floor Cellar with barrel delivery access, python, pumps, cooler and barrel racks.

Catering facilities include a well equipped commercial Kitchen with stainless steel appliances and preparation surfaces (appliances not tested).

General Remarks

We are advised that the inn benefits from all main services except gas and uses LPG for cooking and central heating (no services seen or tested).

The business is offered for sale as a lease assignment with approximately 7 years remaining of the original Punch Taverns full repairing and insuring, renewable agreement.

We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium - subject to the provision of the Landlord and Tenant Act 1954. We understand the lease is Partially Tied to draught beer, bottled beers, cider and alcopops only. Business rates payable are to be advised. Rent is currently £40,000 per annum reviewed in 2010.

The Business

Our vendor clients, in situ for the past 9 years have successfully operated this delightful traditional inn on a full time ‘hands-on’ and part time ‘hands-off’ partnership basis respectively with the assistance of 2 full time and 7 part time members of staff. Due to health problems our vendor clients have reluctantly decided to sell this excellent business. This delightful inn is a successful and profitable business and already having a solid trading foundation still offers new enthusiastic owner operators immense potential to increase the sales by simply extending the trading hours. Trade split is currently 60% wet and 40% food. Sales for Y/E 30th April 2007 circa £507,000 (incl. VAT). Reconstituted net profit (ie after adding back finance costs, depreciation and other expenses) of circa £64,000. Our vendor clients have established an excellent reputation which can be fully emulated by new enthusiastic operators. The asking price reflects the location and quality of fixtures and fittings.

Accounting information will be made available to interested parties after viewing.

Property information

Property:

Leasehold

Living accommodation:

Owners Accommodation Presented in superb decorative order and is situated on the first floor and briefly comprises: 2 good sized bedrooms, lounge, kitchen and bathroom. External Good sized enclosed lawned beer garden with timber benches/seating and children’s play area with swings and slides. There is a private enclosed courtyard with a storage unit and storage shed. Patron’s parking facilities with lined spaces for circa 18 cars.

Location:

This delightful traditional and highly desirable inn is situated in the sought after location of Penn Common, Wolverhampton and is a well used and popular venue for local and commercial trade emanating from the surrounding and affluent catchment areas; and also having an excellent level of passing and repeat trade and is also ideally situated to draw an abundance of trade from Wolverhampton and Dudley. This charming and characterful inn can be easily reached from junction 10 of the M6 motorway. Situated twixt Wolverhampton and Dudley and close to Birmingham airport with easy access to the M6, M5 and M40 motorways makes this busy location an extremely popular commuter area for the major motorways and the major international airports of Birmingham and Manchester.

Other information

Trading hours:

We are advised that the inn trades with the benefit of a Premises Licence (not seen) which permits the sale of alcohol during the hours of:

Mon - Wed - 11.00am - 11.00pm

Thurs - Sat - 11.00am - Midnight

Sunday - Midday - 10.30pm

he current trading hours are as follows:

Mon - Fri - Midday - 2.30pm and 6.00pm - 11.00pm

Saturday - Midday - 11.00pm

Sunday - Midday - 10.30pm