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Pub, Restaurant, B&b With C1 Planning Permission Approved For Sale

Norfolk
Asking Price:
£1,250,000
Turnover:
Available on request
Net Profit:
Available on request

Reason for Sale

This is a genuine retirement sale.

Business Profile

The vendors have owned this 16th century pub for 15 years. They have developed the restaurant trade and converted a barn to offer en-suite B&B accommodation. Website and social media introduced. Planning Permission granted by South Norfolk Council on 1st February 2017 for rear extension to provide Use Class C1 accommodation for 10 x 2 bed units.

Services

In brief, the business offers the following:
• Free house, traditional pub
• A very good selection of
o Real ales & bottle beers
o Quality wines & spirits
o Soft & hot drinks
• Bar area & seating (seats 35)
• Restaurant, with up to 40 covers
• 5 x en-suite B&B accommodation (occupancy rate 82.5%)
• Planning Permission granted for rear extension to provide Use Class C1 accommodation for 10 x 2 bed units
• Decked outside dining space (seats 55)
• Events marquee
• Beer garden with Petanque
• Equipped play area for children

Customers

The business enjoys a wide range of customers as you would expect for a pub/restaurant in a countryside village.

Handover

The vendor is prepared to work with a new owner for a limited period to ensure a smooth handover and to give the necessary introductions

Key Strengths

• Character property with exposed beam; open fire & historic charm
• Extremely well established
• Well known brand name
• Destination restaurant
• Good mix of customers
• Attracts visitors to local businesses who need accommodation
• Occupancy rates above 80%
• Established online presence
• 96% of TripAdvisor reviews 3* and above, with 65% being 5*
• Proven event and wedding venue
• Numerous accolades including: The Independent - 50 Best Country Pubs; and South Norfolk - Community Pub of the Year
• On 1st February 2017 Planning Permission granted for rear extension to provide Use Class C1 accommodation for 10 x 2 bed units


EPC rating - D


Viewings:


To arrange a viewing please contact the agent.



DISCLAIMER: Viewing is essential to fully appreciate this business and is strictly by appointment only through the agents. All negotiations must be conducted through Advent Business Sales. Businesses/Properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants.
These particulars are provided as a general outline only for the guidance of intended purchasers or lessees and do not constitute all or part of an offer or contract.
All information supplied via Advent is based upon information supplied by the Vendor who has warranted to Advent that all of the information is accurate. Nevertheless, details are given without responsibility by Advent Business Sales Ltd for any or all descriptions, dimensions and reference to condition or value. Intending purchasers should not rely on these details as statements or representations of fact but must satisfy themselves of their accuracy by inspection, by independent advice and/or other appropriate means.
No person representing Advent Business Sales Ltd has any authority to make or give any representations or warranty whatsoever in relation to this or any other property.

Property information

Property:

Freehold

Location:

The business is located in Tacolneston, a rural Norfolk village, on the B113.
It is situated circa half way between Wymondham (A11) & Long Stratton (A140).
The fine city of Norwich is 12 miles away. There is ample free parking on site.

Premises Details:

Very briefly the premises include:
• Charming 16th century pub
• Part Grade 2 listed
• 40 cover restaurant
• 5 x B&B en-suite bedrooms
• Fully decked outside dining space
• Events marquee
• Beer garden with Petanque
• Equipped play area for children
• Ample car parking
• Planning Permission granted for rear extension to provide Use Class C1 accommodation for 10 x 2 bed units
• Unused land at rear, which the vendors are considering a further planning application to build 3 houses to accommodate staff – if successful, the value will increase and the asking price adjusted accordingly

Energy Performance Rating:
D

Business Operation

Expansion Potential:

• Planning Permission granted for rear extension to provide Use Class C1 accommodation for 10 x 2 bed units
• Unused land at rear, which the vendors are considering a further planning application to build 3 houses to accommodate staff – if successful, the value will increase and the asking price adjusted accordingly
• Potential acquisition for an existing player in the pub, restaurant, B&B sectors
• Further scope to significantly develop:
o Wedding venue with further accommodation once the rear extension has been built
o Business visitors
o Base for corporate events
o Holiday makers
o Tourists

Trading hours:

Normal trading hours have been:
• Mon to Fri: 5pm to 11pm
• Saturday: 5pm to 11:30pm
• Sunday: 12pm to 5pm
However, The Pelican has been closed since September 2016, whilst a planning application has been pursued, which has now been successfully obtained from the district council, with full planning permission approval.

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