Traditional Private Free Of Tie Pennine Inn For Sale

Business description

Prominent main road position.
Attractive characterful Bar area with wood panelling and 2 stone fireplaces (seats 50).
Traditionally furnished Dining Room, fully carpeted with beamed ceilings (seats 56).
Large spacious 2 bedroomed living accommodation.
Very quietly traded with advised turnover circa £120,000 (inc. vat) - trade split of 50/50.
Trading on extremely limited hours - not currently open Mon-Sat evenings - huge scope for new owner operators.
Same owner 16 years, genuine retirement sale.
Excellent new 12 yr private 'free of tie' lease.

A excellent opportunity to purchase a new "free of tie" lease in a superb traditional pennine inn

Asking price £29,950 free of tie leasehold to include fixtures & fittings, goodwill, excluding s.a.v.

The Property

Constructed around 1800 of local stone the property still retains many original and interesting features. The inn area has a Central Bar fully equipped for serving both cask and keg beers to both the Main Bar Area and the Dining Room. The main bar is fully carpeted, has beamed ceilings, wood panelling and 2 stone fireplaces, is traditionally furnished and has an immediate warm and welcoming feeling, mixed seating for 50 persons. The Dining Room is likewise furnished again with 2 fireplaces and seating for 56 persons.

Ladies and Gents Toilets are situated off the main bar.

There is a fully equipped Catering Kitchen (no equipment tested).

There is a large Basement Cellar which has been capable of producing 60 barrels per week. The cellar also provides freezer and drystore rooms.

The Business

Our vendor acquired the business nearly 16 years ago and since that time employing skills learned previously as a craftsman has slowly totally refurbished the inn. His work is to be seen everywhere with the care and attention paid obvious to the onlooker. Sadly during the last 12 months his personal circumstances have changed and he is unable to trade as he has previously. Because of this the turnover has dropped to circa £120,000 p.a. inc. VAT with trade split to 50:50.

The business is currently trading on extremely limited opening hours with no evening opening Mondays-Saturdays hence there is huge genuine scope for new operators to reap the obvious financial rewards.

The property is in excellent condition with a high standard of fixtures and fittings. There is no doubt that new and enthusiastic owners preferably with one having catering experience will quickly be able to re-establish a good profitable food led business capable of achieving £250,000 p.a. The owner is justifiably proud of the business he has built and is willing to help and advise the new tenants if necessary.

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

Property information

Property:

Leasehold

Lease terms:

The business is offered for sale as a new 12yr private free of tie lease agreement on the following terms:

1. The initial annual rent will be £18,000 RPI linked to inflation.

2. Rent review every 3 years.

3. There will be a 2 month rent free period to allow new tenants to re-establish trade.

4. Rent then payable monthly in advance.

5. Lease assignable after initial 2yr period.

6. Each party responsible for own legal costs relating to the transaction.

7. Free of all brewery and supply ties.

We are advised that the inn benefits from all mains services. Business rates are advised as being approximately £3,000 per annum (inc. upstairs accommodation).

Living accommodation:

Owners Accommodation Situated over the whole of the first floor and comprising 2 double bedrooms, bathroom and wc, kitchen and large lounge/dining 33ft x 17ft. External There is a beautiful stone flagged patio area with further seating for 16 persons. There is a car park for 10 vehicles.

Location:

Situated on the main A6026 road in Sowerby Bridge some 3 miles from the M62 Pennine motorway J24. The property has a superb frontage on the outskirts of the town centre but on the main road for persons travelling along the Calder valley from Yorkshire into Lancashire. The area has traditionally thrived as an industrial area but now boasts growth for smaller businesses and residential projects. Because of its position adjacent to the Calder canal the inn is popular with walkers and tourists to the area.

Other information

Trading hours:

We are advised that the business trading with the benefit of a Premises Licence (not seen) which permits the sale of alcohol between the hours of:

Monday - Saturday 11am - 11pm

Sunday 12nn - 10.30pm

The current opening hours are:

Mon - Closed

Tuesday - Saturday 12nn - 3pm

Sunday 12nn - 7pm

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.