Profitable Town Pub For Sale

Business description

SIGNIFICANT PROFITABLE EASY TO RUN CLASSIC TOWN CENTRE PUB LOCATED IN THE LARGEST TOWN IN N.W.LEICESTERSHIRE WHICH IS ABOUT TO FURTHER BENEFIT FROM A MULTI MILLION POUND REGENERATION PROGRAMME

Property Details

> Sales running at a consistent £6-£7,000 per week with a resultant Net Profit circa £40-£50,000 year on year
> Central bar to locals lounge and games area (70)
> Same owners 7 years –only offered due to ill heath
> Excellent town centre “beer garden” & smokers solution (100+)
> Owners comfortable 3 bedroomed accommodation
> Fully renewable protected 21 year lease with beer discounts

THIS TRADITIONAL PUB DOES “EXACTLY WHAT IT SAY’S ON THE TIN” OFFERED AT A MOST SENSIBLE ASKING PRICE OF £59,950 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL PLUS S.A.V.

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LOCATION (LE67 3PE)
Coalville is the largest market town centre in North West Leicestershire. The role, image and performance of the town centre are of paramount importance to the economic success of the district. Coalville’s location at the heart of the National Forest and the 4 major cities of Birmingham, Derby, Leicester and Nottingham coupled with significant future housing growth provides an outstanding opportunity for the town which can only “add value” to the pub’s success. The pub holds a prominent position opposite the town centres pedestrianised “clock tower” square on BELVOIR ROAD being the 1st licensed business on the way into the towns leisure circuit from the residential areas of the town.

PROPERTY DESCRIPTION
The property is of brick construction under pitched roofs holding a corner position to the heart of the towns centre and suggests that it was built around the time that the railway came to the town in its early development stages. Initially the town and locale were geared specifically to the mining industry and related trades, with the industries decline the town has developed a “small business ethos” with many new business’s being opened and developed within the light and specialised industry sector along with training services and a growing professional sector. The renaissance of the town is being targeted by super stores and major retailers with there influx of spending and added value to the town with the pub close to its epicentre. The MAIN BAR (70) is of “L” shape in design with a games area and pool table to one end. Furnishings are simple but functional with a mix of fixed and loose furnishings providing cosy areas for customers to sit and talk (it is rare to find the bar empty at any time of the day as it has a client base for each time of day). BAR SERVERY is the focal point of the pub with a full range of Bright Beer pumps and real ale wickets (our client offers one real ale). BEER CELLAR is set below ground and fully chilled. CATERING KITCHEN is available but currently unused. TOILETS are well presented and functional. A FUNCTION ROOM currently unused could be re instated within the business if required (meeting rooms will become a possible income stream as the towns development gets underway)


OWNERS ACCOMMODATION
Located to the 1st floor comprises of a private kitchen, 3 double bedrooms, large living room, and family bathroom. There is also an office on this floor.

EXTERNALS
Definitely a ‘wow’ factor of this business are its outside public areas. The large part lawn beer garden (100) with patio and smokers solution provides a unique outside drinking area which is a rarity within a town centre


PREMISES LICENSES
We are advised that the business currently trades on hours of 11am till finish. Premises license allows for openings 10 am till 11.30pm Sun-Thurs with Thurs 12 midnight and 1am Friday & Saturday. A personal license will be required and our training associates can assist with this for you along with other licensed retail training inc BII courses

TENURE
We are instructed to offer this business as a LEASE ASSIGNMENT of 21 year lease from 2004 with a business rent of £36,000 pa with discounts on wet purchases including beers. The lease is fully protected under the Landlord & Tenant Act and renewable at its end for a further 21 years at no further cost. The lease is with W&D Brewers – Marsdons open house.

SERVICES
We are advised that the business benefits from connected mains, and central heating by GAS.

THE BUSINESS
Our client has owned the business for some 7 years running it as a Mother & Son business with a manager to assist. Average sales over the past 2 years show on accounts as £320,000 pa inc vat 100% wet driven, cascading down to a Recon Net Profit of between £41,000 and £53,000 p.a. on the books having lived out of the business. With its strong town centre positioning a new energetic owner should consider introducing some form of simple food offer during the late morning through lunch into the afternoon for which there is a most obvious call. The additional food sales and added incremental wet sales could see trade sour above the £400,000 pa marker wit an additional £40,000 gross profit to use. When the towns redevelopment has been completed the potential of this pub is unlimited.

THIS IS A PROFITABLE BUSINESS AND COMFORTABLE HOME WAITING FOR A NEW OWNER TO GROW IT FURTHER OR JUST ENJOY THE FRUITS OF THE BUSINESS AS IS – WE ADVISE TO CONSIDER THIS PUB AS A MATTER OF PRIORITY

Property information

Property:

Leasehold