Leicestershire Public House Restaurant & Former Hotel For Sale

Business description

Leicestershire Public House Restaurant & Former Hotel For Sale
Large imposing 2 storey building with full basement
Turnover £300,000pa with huge growth potential
Situated in the centre of a large residential area
Scope to reintroduce letting accommodation
Early viewing essential to fully appreciate
Superb opportunity for development
FREEHOLD

Business History

Meridian Business Sales are delighted to offer to the market this superb public house, restaurant and former hotel which has been in the careful hands of our clients since 1996. They only now wish to offer the business to the market due to our clients wish to take a well earned retirement. Since our clients took over the business they have refurbished the lounge and bar areas plus introduced a 60 seater restaurant that has proved to be a financial triumph thus making this business a true walk-in and trade opportunity. Our clients have continually upgraded the business by introducing new income streams which have enhanced the turnover on a year on year basis our clients inform us that the current turnover runs at £300,000 pa at a gross margin of 58%. This is derived from offering a community based public house and very successful 60 seater Indian cuisine restaurant. The business enjoys a strong reputation with its regular clientele and because of this enjoys high levels of repeat trade. Our clients are currently running the business at a pace to suit their lifestyles but inform us that the former hotel business and large fully equipped function hall could be re-instated and would be a popular and profitable decision for the new owners. The main asset to this large property and business is its development potential due to its position and large room format. Meridian Business Sales recommends early viewing on this business so as to fully appreciate the quality and future prospects.

Property information

Property:

Freehold

Living accommodation:

Well presented and maintained large imposing 2 storey Victorian red brick property under a pitched roof. GROUND FLOOR - Main entrance with original tiled floor leading to:- Double doors lead to main bar and lounge area fitted with full bar, glass fronted fridges, shelving for glass storage and back bar for display purpose. Bar area has quality carpets, fixed seating, wide screen TV and free standing furniture for 32 covers. Ladies and gents toilets. The lounge area has again quality carpets, fixed seating and free standing furniture for a further 30+ covers with full equipped bar. Ladies and gents toilets directly off the lounge. Large restaurant with quality carpet and décor with free standing furniture to seat 60+ covers. Full open commercial stainless steel kitchen to include 6 burner range, grills, tandori oven, fryers, preperation tables, hot cupboards, BBQ grill and full extraction unit. Wash up area with stainless steel sinks and storage plus commercial dishwasher. Staff toilets. Freezer room with a range of stainless steel freezers and fridges. Ladies and gents toilets. Rear storage area and lobby with staircase to first floor and basement. FIRST FLOOR - Large landing off main staircase with all rooms running off. 6 x large double bedrooms, all bedrooms need cosmetic finishing plus en-suite facilities if the new owners desire, the plumbing for water to all rooms is already in place. Large vaulted ceiling function hall / ballroom with solid oak floor measuring 7mtrs x 14mtrs with bar area and kitchen. Ladies and gents toilets plus lift to all floors including basement. ADDITIONAL FLOOR - Large basement with central hallway and all rooms running off. 1 x large cellar with fully equipped beer and soft drink lines. Second unused cellar measuring 8mtrs by 8 mtrs. Boiler room with full system for the main public areas and hotel. Second boiler system for bar and restaurant only. Large storage room. Large bottle store. All cellar rooms are full standing height and dry with own access and beer shoot. EXTERNAL - Large car parking to the front side and rear of the property, outside seating area, rear delivery yard and separate access to hotel.

Location:

This well established character public house and former hotel is located on the main through road of the Gypsy Lane area in the city of Leicester. The property stands on a large corner plot in a predominately residential area plus numerous commercial concerns to include small, medium and large retailers. The city of Leicester is a multi cultural society that has seen huge growth over the past 10 years culminating in an affluent and bustling city. The public house and restaurant enjoys a monopoly trade and is the only large facility of its type in the surrounding area. The city has strong road links via the M1 and M69 motorways and the A46 trunk road linking the close by cities of Nottingham, Derby and Birmingham.