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Public House Free Of Tie On Short Hours For Sale

Loughborough, Leicestershire
Asking Price:
£500,000
Turnover:
£42,000
Net Profit:
Available on request

Same Owner Since 1994£200,000 contribution offered to keep bus open from local community
Spacious 3 Bedroomed Accomodation
Free of Tie/ Scope to Improve Dry Sales
Retirement Sale
EPC - D

REF 5716 – Freehold Public House

Blacks Brokers are pleased to bring to the market this freehold property located in the much sought-after village of Osgathorpe in Northwest Leicestershire 4 miles south west of East Midlands Airport close to the University Town of Loughborough and the Market Towns of Ashby and Coalville

INTRODUCTION

The Storey Arms has traded since Victorian times and may have done so earlier it was associated with a farm until the late 1950's when the land was sold off. In the 1980's additional land was acquired allowing the outbuilding to be developed as an extension of the pub for occupation by employees. The previous owners on sale of the Storey retained the cottage and lived there selling it 10 years ago.

The present joint owners acquired the Storey in 1994 as a spacious property a replica of the previous living experience and in support of a family business interests. It also provided for the none driving joint owner an opportunity to extend the 24 years’ experience enjoyed in the licensing trade with the minimum of travelling.

LOCATION

Osgathorpe is a desirable leafy village in Northwest Leicestershire set in a vale with rising ground to the N/W and S/E and a stream running through the village S/W to N/E a tributary of the River Soar. The village lies 8 miles West of the University Town of Loughborough 4 mile East of the market town of Ashby del a Zouch and 4 miles North of Coalville. The Storey Arms is positioned on the corner of Main Street and Meadow Lane with the village of approximately 130 properties extending to the North and along the stream vale to the N/East a new development of 16 properties are currently being erected on the Northern boundary. The village is served on the north side by the A 5324 and in the South by the A 512, ½ a mile away, both roads are Loughborough to Ashby.

BUILDING LAYOUT AND DESIGN

The business is housed within a large and impressive two storey, detached property on a spacious corner plot. Inside, the business is presented well with traditional pub feel and décor. The public bar with seating for 28 and having a pool table and cosy snugs for seating and socializing. The lounge bar offers seating for a further 36 and is again, presented traditionally with carpet throughout and open fireplaces to both bar and lounge. The pub benefits from a ground water cooled beer cellar, inside customer toilets and kitchen come storeroom.

To the rear is a plastic roof covered area opening out on to the car park useful for semi outdoor activities under which the beer festival is held each year it is also used for storage of community used equipment. Adjacent to this and the building is a car park offering space for around 20 cars beyond is the lawn and adjacent field where further land is available for additional car parking by negotiation. To increase the pub customer base as a community asset, schemes supported by members of the community to populate the surrounding area and with an idea for a village hall and a long sort after village recreational ground and amenity field are just some of the possibility which can be derived from this opportunity.

The outdoor porta cabin on the lawn area is used by The Storey Arms Homing Pigeon society.

On the first floor is the owners accommodation of 1330 sq.ft, approximately, comprising of three good size double bedrooms kitchen large bathroom/utility and open plan lounge/dining room, a further large double bed size room is used as an office/storage facility. All areas are reasonably tidy, if a little tired but are well presented with various renovation currently being undertaken.

STAFF

The Storey is currently operated by one family member supported by the other two.

FINANCIAL DETAILS

Financial details summarized for the past 23 years are available upon a viewing of the business which has trade solidly over its history to the best that the community supports it the current turnover for the 52 weeks to the 31/7/17 is £42,235 with 99% generated from wet sales the property enjoys the benefit of s/b rate relief having a current ratable value of £2,100 and in not VAT registered at present. The majority of customers come from the local area with the rest motoring in from slightly further afield.

SUMMARY

The freehold business delivers its weekly takings from wet sales only. There is much scope to develop the business further with a food service concept with potential to construct an extension to the rear to expand the floor space there is also scope for expansion into bed and breakfast which is very much in demand in the area with a first and even 2nd floor development this proposition may be of interest to a similar business or large chain looking for opportunity in this area of Loughborough or a developer looking for such a building for other business opportunity, additional land is available. Or for someone who is seeking a large home with considerable potential. Early viewings are strongly advised.

Property information

Property:

Freehold

Business Operation

Trading hours:

Run on short hours 20 - 25 hours a week over 7 days

Contact Information

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  1. What will I happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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