Gate Inn Lovely Award Winning Business For Sale

Business description

Offers Around: £775,000 Freehold

Lovely Award Winning 17th Century food-led inn. Fringe of Lake District and close to M6. Bar (28), spacious restaurant (35) and 2 bed owners' cottage. £325,108 net t/o - PP for 10 beds, restaurant extension and spa. The Gate Inn is a delightful Cumbrian village inn combining the character and charm of a centuries old inn with the smart appeal of recently extended restaurant facilities. The attraction of The Gate Inn is immediately evident on walking through the front door and it is easy to see why the owners have been able to build a strong and profitable business given the successful formula of good location, a mix of old world character and of course, very good food and drink. In addition the owners have gained the very valuable asset of planning permission for a substantial extension to the rear providing 10 en suite letting bedrooms, extended restaurant facilities and spa. Situated on a pleasant country road close to Penrith and the M6 motorway, The Gate Inn is easily accessible to Penrith and surrounding villages. The business is thus able to attract good all year round trade, which is boosted throughout by a long tourist season by clientele visiting the Lake District and the beautiful Eden Valley just to the east of the M6. Indeed, the B5320 passing The Gate Inn links with Ullswater, which is only about 4 miles away and is a popular tourist route in its own right. The present owners acquired The Gate Inn in 2004 and have carefully upgraded not only the main bar but also the restaurant to the very highest of standards. This has been complemented by the complete refurbishment of the owners' cottage and the inn, which together with the high quality food and many impressive reviews have made The Gate Inn into not only a profitable business but a comfortable family home. Having enjoyed their years at The Gate Inn, the owners are now ready to move on to join their family in another project.

THE PROPERTY
Thought to date back in part to the 17th Century, the property is of traditional detached construction principally in render with pitched slate roof. The accommodation is on ground and first floors plus basement cellar.

PUBLIC AREAS
Front entrance lobby leading into the attractive and characterful bar to seat 28 with beamed ceiling, lovely open fireplace with stone surround, stone feature walling, window seat and bar with well-equipped servery. Restaurant, a delightful room in 2 sections for up to 35 diners. Doors leading to the gardens.

GATE COTTAGE
The excellent and newly renovated private accommodation at the Gate Inn is arranged on ground and first floors and is completely selfcontained with ground floor quality fitted kitchen and utility room. To the first floor there are two double bedrooms, family bathroom/wet room and open plan living room.

SERVICE AREAS
Commercial kitchen with wash-up area off. Outside refrigeration/dry goods store. Beer cellar.

OUTSIDE
Good size car park, lawned areas with shrubbery and terrace for outside dining. Detached garage for 2 cars plus ample storage space. Shared access across the very rear of The Inn to 2 neighbouring residential properties.

SERVICES
Eden District Council at Penrith. Mains electricity and water. Liquid gas and drainage.

LICENCE
Premises Licence

2008 LISTINGS
The Good Pub Guide Michelin Eating Out in Pubs The Michelin Guide AA Pub Guide - AA Britain's Best Pubs Alistair Sawday Guide Cumbria Dining Pub of The Year 2007 Cumbria Tourism Newcomer of The Year 2005

PLANNING
Planning Permission (ref: 06/0663) was obtained on 05/04/07 for a substantial extension including 10 en suite letting bedrooms, extended restaurant and spa.

TRADE
Certified accounts as prepared by the owners' Chartered Accountants in the form of a Trading & Profit and Loss Account for the year ended 31 July 2007 show net turnover of £325,108.

PRICE
Offers around £775,000 for the freehold complete with goodwill and trade contents (according to inventory), excluding personal items. Stock at valuation.

DIRECTIONS
From junction 40 of the M6 motorway, head towards Scotch Corner on the A66 and at the next roundabout turn right towards Eamont Bridge on the A6. Shortly after crossing the bridge, turn right at the mini roundabout onto the B5320 and Yanwath Village will soon be found on the right hand side with The Gate Inn on the left. Penrith 2 miles, M6 Motorway (J40) 2, Pooley Bridge and Ullswater 4, Keswick 20, Carlisle 20, Kendal 27 and London 275 miles.

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:

Freehold