Stunning And Thriving Historic Country Inn And Restaurant For Sale

Business description

17th Century village inn situated in a semi-rural location.
Attractive Lounge Bar, Snug with open fire, delightful Restaurant (circa 50 covers).
1st Floor Restaurant / Function Room (circa 30 covers).
Superb 2 bedroom owners' accommodation.
2 large car parks, patio and excellent beer garden.
Turnover circa of £517,863 (incl. VAT) year end May 2008 with gross profit of 60%.
Trade split is approx 68% food, 32% wet.
21 years remaining on private 'Free of Tie' lease.
Featured in The Good Pub Food Guide.
See website www.theizaakwalton.co.uk for more details.

A WELL ESTABLISHED BUSINESS IN A DESIRABLE LOCATION WITH RARE PRIVATE 'FREE OF TIE' LONG LEASE.

ASKING PRICE £59,000 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL, EXCLUDING S.A.V.

The Property

This substantial restaurant/inn is an attractive and impressive 2-storey property of brick construction under a pitched roof. The building is thought to date back to the mid 17th century as a humble Draycott Estate farmhouse. It began trading as a traditional country pub in the 1850s. Now fully-restored, the inn still retains its rustic, homely charm with open beams, wood panelling, traditional decoration and cosy fireplaces. The property is immaculate throughout and furnished to a high standard.

The Snug (circa 10 plus standing) has an attractive open log fire and is used as a reception area for diners.

The Lounge Bar is a cosy room with a warm and relaxing atmosphere. The room features a panelled wood central bar servery, fireplace, perimeter seating, loose tables and chairs.

The Restaurant (circa 50 covers in total) has a lovely ambiance and is split into 3 more intimate trading areas. All areas are furnished with loose wooden tables and chairs. The first area has a wooden floor, open roof rafters and patio doors leading to the rear. The second area is fully carpeted. The third area has an old feature fireplace and is carpeted.

Ladies, Gents and Disabled W.C.'s.

There are is a fully equipped commercial Kitchen (appliances not tested) with walk-in refrigeration. The easily run ground floor cellar has auto tilt stillage for real ales.

The 1st Floor Restaurant/Functions Room (circa 30 covers) has a wooden floor and exposed roof rafters. It offers a lovely environment making it a most appealing and desirable dining experience and is frequently used for weddings, funerals etc. Also on the 1st floor are a staff room and an office.

General Remarks

The business is offered for sale as a lease assignment with approximately 21 years remaining of a highly sought after FREE OF TIE full repairing and insuring agreement. We are informed that the rent is currently £89,443 per annum (linked to RPI), to be reviewed in 2009. We are advised that the inn benefits from all mains services (no services seen or tested). Business rates are advised as currently being £13,398 per annum.

The Business

The current owners purchased the business in 2004 following a complete renovation in 2003. They have established a solid trading foundation offering high quality food, wine and traditional cask ales in superb surroundings. The inn has been a Camra Pub of the Month winner, has been named as one of the ‘Top 15’ restaurants in the Staffordshire/Derbyshire/Cheshire area and also features in the Good Beer Guide. Our vendor clients currently have a leisurely lifestyle choosing only to work weekends which consequently necessitates employing excessive staff. The business is thriving with regular desirable clientele and excellent future bookings. Annualised turnover to May 2008 is circa £517,863 (inc VAT) with an excellent overall ross profit of 60% - sales split is circa 68% food and 32% wet. In our opinion, new hands-on enthusiastic partnership/family operators (especially if a qualified chef) would expect to dramatically reduce the present staff costs and increase the turnover substantially.
Accounting information will be made available to interested parties after viewing.

Property information

Living accommodation:

Owners Accommodation The owner's accommodation has been totally renovated. It is situated on the 1st floor and briefly comprises: 2 good sized bedrooms, lounge, fitted kitchen / dining area, small utility room, and bathroom. External To the rear of the building is a patio area with cast iron Victorian style furniture (circa 15) and large landscaped beer garden with timber benches/seating (circa 50). There is a paved car park (circa 30), with a second large car park (150) perfect for marquee events, car boot sales etc.

Location:

This delightful inn and restaurant is situated in the desirable semi rural village of Cresswell. On the southern edge of the Peak District, the Staffordshire Moorlands certainly rival their neighbour in terms of scenic attraction. It is an area full of character with charming scattered villages, historic market towns and a wealth of history. The city of Stoke-on-Trent with its excellent shopping facilities and its tourist attracting Potteries is within easy reach. Nearby is Alton Towers Theme Park! Undoubtedly one of the major 'days-out' attractions of the country, and producing a regular flow of tourists during the season.. Other attractions within close proximity are Croxton Abbey, Foxfield Steam Railway, Trentham Gardens, Churnet and Manifold Valley's. The Inn is located close to a cricket club, sports centre and business park.

The historic inn lies near the river Blythe, 3 miles SSW of Cheadle and has excellent road links via the nearby A50 and M6.

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-Sat 11am to 11pm

Sunday 12noon to 10.30pm

Current opening hours are:

Sun 12 noon to 10.30pm

Mon-Sat 12 noon to 11pm