Public House And Restaurant For Sale

Business description

We have been instructed to offer for sale this busy and popular pub restaurant with still further potential.

Long established and in the hands of the current owners for over 3 years, it is now reluctantly offered for sale due to the vendors new family commitments.

Having been fully refurbished by the vendors in the time that they have owned the business, it has been increased substantially from a small local pub to a popular destination pub restaurant.

Decorated to a high standard throughout, the premises now consists of up to 40 covers on the ground floor plus bar and lounge areas, with a further 50 covers in a restaurant setting to the first floor. In addition to this, there is family living accommodation consisting of a self contained flat including 2 double bedrooms.

The business has seen remarkable growth since being under the ownership of the current vendors. It now attracts customers from the local towns of Newark and Ollerton as well as all the outlying villages within approximately a 10 mile radius.

The pub has an excellent reputation for good quality food at competitive prices. This has resulted in the split now being approximately 65% wet and 35% dry sales.

The business is leased from Punch Taverns and is part tied consisting of beers and bottled beers only, with current stock in the region of approximately £5,000.
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Property information

Property:

Leasehold

Lease terms:

TENURE: Leasehold with Punch Taverns
Original lease: 15 years
Remaining lease: 11.5 years
Review every: 5 years
Rent: £33,000 per annum

We are advised that the annual business rates are currently: £1,788

Living accommodation:

BUSINESS PREMISES An attractive detached two storey premises decorated to a very high standard throughout and consisting of the following:Ground Floor . Entrances to front and back of premises and also side of premises from car park leading to . Main bar area with seating and stairs to first floor decorated to high standard including open fire place, pool table area, snug, fully equipment commercial kitchen, staff stairs leading to first floor to rear of bar . Dining area consisting of 40 covers First Floor . Dining area consisting of 50 covers . Self contained living accommodation consisting of: lounge, kitchen, family bathroom, 2 double bedrooms External . Small seating area to front of premises . Car park to side of premises with parking for up to 18 vehicles

Location:

This destination pub restaurant is located in an attractive rural Nottinghamshire village and benefits from no direct local competition. There is a customer car park for approximately 18 vehicles. There are excellent transport links to the A1M which is approximately 2 miles away.

Other information

Expansion potential:

While already a successful business, there is still excellent potential for further expansion as the business is currently not advertised.

There is potential to vastly increase sales by marketing locally in local press etc.

Trading hours:

7 Days a week 12noon - 11pm

Financing available:

Please let us know if you require finance for the purchase of a business.

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