Substantial And Profitable 19th Century Freehouse Inn For Sale

Business description

Substantial inn located in a popular tourist destination on the north east coast of Wales.
Victorian style Bar/Lounge (circa 30+ ) with feature fireplaces and high ceiling; Games Room;
Live Band Room; Quaint Snug.
Patio Area with covered smoking area.
Car park to rear.
Top floor with potential for conversion to 3 bed flat.
1st floor substantial flexible accommodation - currently 3 bedrooms and recording studio.
Advised turnover circa £89,362 (inc. VAT) to y/e July 2008 with recon net profit of circa £36,812.
Trade is 100% wet - massive scope for catering orientated operators.

A profitable business with further scope for catering and letting accommodation in a busy coastal town

Asking price £257,000 freehold to include fixtures & fittings, goodwill, excluding s.a.v.

The Property

This substantial inn is an impressive 3-storey property that has been subject to major external work (new windows, roof, doors, and chimney stacks) as part of the regeneration scheme. The inn was thought to be built towards the end of the Victorian period circa 1897.

The Bar/Lounge is of Victorian design with feature fireplaces, high ceiling carpet, part-panelled walls, circular tables, stools, games machines, jukebox and ornate Bar Servery.

Leading off from the Bar/Lounge is a Band Room with a stage that is currently used for Live Band nights - this could be converted for other uses (e.g. dining area) if desired.

There is a Games Room with a pool table and perimeter seating.

To the rear of the trading areas is a quaint Snug (circa 20) which is carpeted and features a piano, upholstered perimeter seating, circular tables, stools and fireplace. lows:Ladies and Gents W.C.s.

There is a commercial catering Kitchen (appliances not tested) that is not currently used. There are store rooms at the rear of the bar servery.

General Remarks

The property and business is being offered for sale freehold (although we have not had sight of the title deeds). All mains services are connected with gas central heating (no services tested). Business rates are advised as being £2,038 per annum.

The Business

The current owner purchased the business nine years ago and has run it as an alternative pub with live bands, pool league and entertainment. Our vendor client is reluctantly selling due to ill-health.

We are advised that accounts declare takings of circa £89,362 (incl. vat) in the year ending July 2008. We calculate the reconstituted net profits (adding back bank loans and depreciation) of circa £36,812.

Whilst the business is currently profitable, we feel that there is clearly further scope for newer 'hands-on' aggressive operators to exploit the obvious potential and take this business further. The inn is substantial and would be ideal for creating letting rooms/rental accommodation (subject to any necessary consents). The catering kitchen is currently not used and turnover/profits could be further increased by introducing both lunchtime and evening food.

Accounting information will be made available to interested parties after viewing.

Property information

Property:

Freehold

Living accommodation:

Owners Accommodation The owner's accommodation is situated on the first floor and currently comprises: large storeroom (possible double bedroom); large bedsitting room; double bedroom; double bedroom/lounge; kitchen; bathroom; and Recording studio with floating floor system. Letting Accommodation On the 2nd floor is a partly converted 3 bedroom flat, with kitchen area, bathroom and lounge, which could be rented out (subject to any necessary consent). External To the rear of the property is a patio area with covered smoking shelter and a small walled-in car park.

Location:

This substantial Victorian style inn is located in the coastal town of Rhyl, on the north east coast of beautiful North Wales. The inn is situated at the end of the High Street in the town centre adjacent to a large public car park and close to the railway and bus stations. Once an elegant Victorian resort, there has recently been a series of regeneration projects bringing in major investment. European funding, secured by the Welsh Assembly Government, has produced millions for the development of Rhyl's seafront. Rhyl offers three miles of golden sands and the tourist attractions include: a harbour, promenade, Suncentre, Ocean Beach Fun Fair, Crown Green Bowling Centre, Events Arena, Sea-Life Centre, Children's Village, Multiplex Cinema, the 80 metre high Skytower, paddling pool, boating pool and miniature golf. The area is rich in history and the surrounding countryside offers walks in Areas of Outstanding Natural Beauty and nature reserves. The town is surrounded by camping and caravanning sites along with a large number of holiday homes, making it a very popular area for tourists throughout the year.

The property has excellent road links with the main A55 close by and is accessible by rail, air via Liverpool Airport, and sea via Holyhead.

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:

Sun 12midday to 11pm

Mon-Thurs 11am to 12 midnight

Fri-Sat 11am to 1am

The current trading hours are similar to the above.

NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the NCPLH Qualification in readiness for their intended operation of the Public House. Guy Simmonds hold this 1 day NCPLH Course every 2 weeks.