Highly Desirable Rutland Detached Country Inn For Sale

Business description

Prominent and substantial inn situated in the affluent locale of North Luffenham.
L-shaped Traditional Bar (circa 40), Restaurant Area (circa 26 covers), pool room (circa (16).
3 very attractive letting bedrooms.
Charming garden (circa 40), patio (circa 30) with wooden tables, chairs & parasols.
2 bedroom owner's accommodation.
Advised turnover for y/e Feb 09 £176,299 (incl. VAT).
Trade split 70%wet; 20%dry and 10% accom.
Approx. 17 yrs left on a Marston's Lease with a current annual rent of £21,879.

An excellent opportunity to acquire a truly stunning village inn with enormous potential in the heart of this most attractive county of rutland

Asking price £35,000 leasehold to include fixtures & fittings, goodwill, excluding s.a.v.

The Property

This distinctive and substantial village inn is a 3-storey property of stone construction beneath a pitched slate roof, occupying a prominent main road position.

The Public Bar/Games Room and Locals Bar (circa 56) is full of character with beamed ceilings, carpeted floors and exposed stone walls. The rooms are set over two levels with the upper level benefiting from a bar server and the lower level having a pool table, machines and a TV.

The Dining area (26 covers) with wooden tables & chairs, bar server and inglenook fireplace are all in fantastic condition and well presented.

Ladies and Gents W.C.'s.

Fully fitted domestic/commercial kitchen with full extraction facilities and stainless steel appliances (appliances not tested) and separate wash & prep room.

The Ground Floor Cellar benefits from coolers, python system and bottle store.

The Business

The business has been owned by our clients for the past 6 years and has become the focal point of village life. There are currently 2 pool teams, quiz night and a dominoes team. The inn is predominately wet led and only has a light bar menu. From our knowledge of the area and the affluent and stunning location, in our opinion we feel that the business would benefit from a more sophisticated food menu which would attract more clientele, therefore increasing turnover and ultimately profitability. We are advised that the turnover for y/e 02/09 is £176,299 (inc vat) on a trade split of 70% wet, 20% dry and 10% accommodation. This business represents a fantastic opportunity for either a couple or sole trader wishing to purchase their first inn or an experienced chef looking for an inn/restaurant.

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

Property information

Property:

Leasehold

Lease terms:

The business is offered for sale as a lease assignment with approximately 17 years remaining of the Marston's full repairing and insuring, renewable agreement. We are advised that the inn is fully tied to all beverages. We are informed that the rent is currently £21,879 per annum to be reviewed in 2011.

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 & Tenant Act 1954. We are advised that the inn benefits from mains services (no services seen or tested). Business rates are advised as currently being circa £6,842 pa.

Living accommodation:

Owners Accommodation The owner's accommodation is situated on the 1st & 2nd floors and briefly comprises: 1 double bedroom with en-suite, double bedroom, lounge, kitchen and office. Letting Accommodation Situated on the first floor and comprising: 1 Quadruple bedroom 1 Twin bedroom 1 Single bedroom Shared bathroom with separate shower and in excellent decorative condition. External There is a generous outside trading area comprising: patio (circa 30) with wooden tables, chairs and parasols, garden (circa 40) with wooden picnic tables, floodlight Petang court, covered smoking solution, stone built double garage and car parking for circa 30 vehicles.

Location:

This beautiful and imposing inn is situated in Rutland, one of England's most stunning and desirable counties. The business which resides in the much sought-after village of North Luffenham can be easily reached via the A47 Leicester to Peterborough road. The historical market towns of Oakham, Uppingham, Melton Mowbray and Stamford are within close proximity and also many national and local attractions such as, Rutland water (one of the largest man- made lakes in Europe), Burghley House (regarded by many as the finest Elizabethan House in England) and Belvoir Castle (residence of the Duke & Duchess of Rutland). An enviable location to reside and a fantastic business opportunity.

Other information

Trading hours:

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

Mon- Sunday 11am to 1am

Current opening hours are:

Mon-Thursday 12noon to 11pm

Fri-Sat 12noon to 1am

Sunday 11:30am to 11pm

NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the NCPLH Qualification in readiness for their intended operation of the Public House. Guy Simmonds hold this 1 day NCPLH Course every 2 weeks.