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Well Presented Free Of Tie Public House For Lease

Devon, UK
Asking Price:
£35,000
Turnover:
£206,553
Net Profit:
Available on request

The property
The Royal Oak is a stone-built end of terrace character property which is presented to a high standard following recent refurbishment of the public areas and comes with a comprehensive inventory of fixtures and fittings, offering new owners the opportunity to move in and start trading. It briefly comprises:- Old Bar a traditional public bar area comfortably seating 22 plus standing room, New Bar a lounge bar area comfortably seating 28 plus standing room, Catering Kitchen with commercial appliances, first floor Games Room with pool table and a Family Sized Owners Apartment offering 2/3 Bedrooms, Sitting Room and a Bathroom. There is also a small Courtyard Area to the rear of the property.

Situation
The Royal Oak is situated in a prominent trading position within the town centre of Somerton, once the ancient capital of Wessex and a former market town. Somerton was also once the county town of Somerset and today has a population of around 5000. This historic town offers a good level of amenities with numerous independent retailers, a bank, library, doctor and dentist surgeries and primary schools. Secondary schooling is offered at nearby Huish Episcopi, plus there are 6th form colleges in both Yeovil and Street, also the home of Millfield School and Clarks Shopping Village. Mainline train stations are offered in nearby Castle Cary and Yeovil whilst road communications are excellent via the A303.

Internal details
Main customer entrance doors to the front leading into entrance lobby with doors into The Old Bar a traditional public bar area with tiled flooring, feature lighting, part wood panelled walls, feature fireplace with living flame gas fire, darts oche area, large screen television, freestanding tables, chairs and stools comfortably seating 22 customers plus adequate standing room, timber fronted and topped Bar Servery Area. The New Bar a traditional lounge bar with part carpeted and part tiled flooring, exposed ceiling timbers, part wood panelled and part exposed stone walls, feature lighting, feature brick fireplace with inset living flame gas fire, wall mounted colour television, free standing wooden tables, chairs and pew style bench seating comfortably for 28 customers plus adequate standing room. Substantial and brick fronted polished timber topped Bar Servery fitted with associated back bar fittings, display shelving, servery counter for the Old Bar, Altro flooring, stainless steel sink unit, commercial glass washer, double glass fronted bottle fridge, triple glass bottle fridge, EPOS touch screen cash register, and a range of optics. Ladies & Gents WC's. Beer Cellar temperature controlled on the ground floor, with Belfast sink, ice machine and wall shelving. Catering Kitchen with Altro flooring and part tiled walls, fitted with a range of commercial catering equipment to include:- extraction system with stainless steel canopy over, 6 burner range, commercial dishwasher, 2 microwave ovens, twin table top deep fat fryers, upright fridge, twin deep bowl stainless steel sink unit, plate warming cabinet, stainless steel work benches with shelving below, stainless steel handbasin. Dry Goods Store with Altro flooring, fully shelved, chest freezer and upright freezer. Games Room on the first floor with carpeted flooring, dual aspect windows to front and side, pool table, range of tables, chairs and stools seating 18.

Private accommodation
Arranged on the first floor with a private entrance door to the front is the Family Sized Owner's Accommodation which briefly comprises:- Sitting Room with vaulted ceiling and exposed ceiling timbers and part exposed stone walls. Boiler cupboard. Bedroom 1 good sized double room with aspect to the front. Bedroom 2 a good sized double room with aspect to the front. Office/Bedroom 3 a single room with no window. Bathroom with shower over bath. Agents Note: There is the opportunity to reconfigure the owner's accommodation and incorporate the Games Room to provide an additional bedroom, if required.

External details
To the rear of the property is a small enclosed Courtyard Area.

The business
The Royal Oak is a popular and well presented free of tie public house located within the town centre and with a strong established and regular clientele. Our client purchased the pub in 2017 and it trades as a traditional wet led public house, with no food having been offered, since March 2020. It is also free of all brewery ties. The Royal Oak is home to a pool team, a darts team, a cheese club, a pie club, a fortnightly quiz night and is a popular venue in the town for televised sport showing both Sky and BT Sports. No advertising or marketing of the business has been undertaken by our client.

Trading information
Accounts for the year ending 31st March 2020 show sales of £206,553 excluding VAT. Full detailed trading information can be made available to interested parties following a formal viewing appointment.

Opening hours
The current opening hours are from 4pm until close Monday to Friday, 12 noon until midnight on Saturday and 12 noon until close on Sunday.

Current staffing
The business is run by our client, a single working proprietor, with the assistance of 3 part time members of staff.

Potential
Our client advises that there is potential to develop all aspects of the trade still further, particularly by developing the food side of the business, which has not been exploited. There are also opportunities for longer opening hours. The Royal Oak represents an excellent opportunity to purchase a thriving free of tie wet led freehouse with family sized accommodation and strong levels of trade and potential to grow the business still further.

EPC
C - 69.

Rating
For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website

Services
All mains services are connected to the property.

Price & tenure
£35,000 for the valuable free of tie leasehold interest as a going concern business and full trade inventory. Wet and dry stocks to be additional at valuation. Vacant possession upon completion.

The Royal Oak is held on the remainder of a 10-year free of tie lease which commenced in September 2017 with a current base rent of £15,000 per annum, plus a turnover rent of 10% of all net sales between £150,000 and capped at £250,000. We are advised that the lease contains internal repairing obligations to exclude the doors and windows. Full details available upon request.


Viewings
Strictly by appointment with the vendors Sole Selling Agents.Tel: . Email:
You are recommended to contact us before visiting the property even for an informal viewing. We can then confirm whether or not it is still available.

Finance
An early discussion about finance can often save time and disappointment. If you would like independent specialist advice on funding this property or any other purchase, we recommend you contact us for a list of our approved brokers.

Please note: The fittings, equipment and services listed have not been tested by the agents, although we are informed that all items are in working order.

Property Information

Property:

Leasehold

Leasehold Type:
Existing
Lease Terms:

The Royal Oak is held on the remainder of a 10-year free of tie lease which commenced in September 2017 with a current base rent of £15,000 per annum, plus a turnover rent of 10% of all net sales between £150,000 and capped at £250,000. We are advised that the lease contains internal repairing obligations to exclude the doors and windows. Full details available upon request.

Leasehold Rent:

£15,000 per annum

Living Accommodation:

Arranged on the first floor with a private entrance door to the front is the Family Sized Owner’s Accommodation which briefly comprises:- Sitting Room with vaulted ceiling and exposed ceiling timbers and part exposed stone walls. Boiler cupboard. Bedroom 1 good sized double room with aspect to the front. Bedroom 2 a good sized double room with aspect to the front. Office/Bedroom 3 a single room with no window. Bathroom with shower over bath. Agents Note: There is the opportunity to reconfigure the owner’s accommodation and incorporate the Games Room to provide an additional bedroom, if required.

Location:

The Royal Oak is situated in a prominent trading position within the town centre of Somerton, once the ancient capital of Wessex and a former market town. Somerton was also once the county town of Somerset and today has a population of around 5000. This historic town offers a good level of amenities with numerous independent retailers, a bank, library, doctor and dentist surgeries and primary schools. Secondary schooling is offered at nearby Huish Episcopi, plus there are 6th form colleges in both Yeovil and Street, also the home of Millfield School and Clarks Shopping Village. Mainline train stations are offered in nearby Castle Cary and Yeovil whilst road communications are excellent via the A303.

Premises Details:

The Royal Oak is a stone-built end of terrace character property which is presented to a high standard following recent refurbishment of the public areas and comes with a comprehensive inventory of fixtures and fittings, offering new owners the opportunity to move in and start trading. It briefly comprises:- Old Bar a traditional public bar area comfortably seating 22 plus standing room, New Bar a lounge bar area comfortably seating 28 plus standing room, Catering Kitchen with commercial appliances, first floor Games Room with pool table and a Family Sized Owners Apartment offering 2/3 Bedrooms, Sitting Room and a Bathroom. There is also a small Courtyard Area to the rear of the property.

Business Operation

Employees:
The business is run by our client, a single working proprietor, with the assistance of 3 part time members of staff.

Franchise Information

Franchise opportunity:

Franchise Resale

Other Information

Related Documents:

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