Leasehold Cafe Bar in Affluent West Sussex Village For Sale

Business description

REDUCED! Private Free of Tie Lease Cafe Bar created from an old forge and smartly presented for up to 130 covers. Separate sports/pool room, patio, spacious owners' 2 bedroom flat, option to include nearby cottage with 4 en suite bedrooms. All in the affluent village of Findon, West Sussex.

Property information

Property:

Leasehold

Lease terms:

BAR:- 20 Year FRI Free of Tie Private Lease from October 2002 at current rent of £35,000 pa reviewed every 5 years.
COTTAGE:- New 14 Year FRI private Lease (same landlord) to run concurrently with the Pub Lease at an additional rental of £12,500 pa reviewed every 4 years. The premium for the Cottage Lease is £10,000 to include trade fixtures & fittings.

Living accommodation:

First floor flat over the pub comprising 2 spacious bedrooms, Living Room & Bathroom

Location:

The village of Findon lies just off the busy A24 around 5 miles north of Worthing. The Inn is "brown-signed" from this road and from the centre of the village and is a short distance along Nepcote lane. John Henr's Inn was converted from an old forge about 10 years ago by the freehold owner who is a local builder. Right opposite the Inn is Marigold Cottage which is currently operated as a Bed & Breakfast by the owner (same as Inn) who has indicated that he is prepared to lease the cottage to the new leaseholders of the Inn.

Other information

Expansion potential:

John Henry's has been run by the current husband & wife lessees for 6 years and a solid customer base has been established. However, there is obvious scope to increase food sales and to take the lease on the cottage which we believe generates around 40K per annum income for the owner at 50% occupancy.

Competition / Market:

There are two other pubs in the village which we understand are owned by pubcos.

Support & training:

The lessees will help as required between exchange of contracts and completion

Reasons for selling:

Need a new challenge and change of life-style

Trading hours:

Mon-Sat: 10am-Midnight; Sun: 10am-11.30pm

Financing available:

Our brokers will be pleased to discuss funding this valuable free of tie lease

Inventory / Stock value:

£5,000